Here’s what $1M worth of prime real estate looks like in the world’s top cities: Knight Frank

In Hong Kong, it buys you a guest bath, but in New York ...

TRD NEW YORK /
Mar.March 03, 2016 12:32 PM

What does $1 million get you in luxury real estate? New Yorkers know that the answer, at least in prime Manhattan, is “not a hell of a lot.” But since many luxury apartment buyers are choosing between New York and a host of other alpha cities, the folks at Knight Frank thought it would be interesting to compare different cities across the globe and see what part of a home one could afford with a $1 million budget.

In Manhattan, your money would get you a charming 290-square-foot study. Faced with that budget in Miami, however, you’d be able to get yourself a nice, ocean-facing 829-square-foot terrace. In the City of Angels, you’d be able to secure a 700-square-foot master bedroom.

Outside the U.S., the numbers get even more interesting. Along with its incredible historical heritage and cosmopolitan scene, buyers in Istanbul could afford a palatial, 1,011-square-foot dining room. In Hong Kong, you’d get a humble guest bath, whereas London would allow you a fine master bath.

The most uppity of them all? In Monaco, the world’s foremost playground of the super-rich, $1 million would get you a 183-square-foot dressing room.

(Source note from Knight Frank/The Wealth Report 2016: Price ranges for Hong Kong, Beijing and Shanghai are for properties considered “Super-Prime.” Prices used in the calculation for Sydney and Hong Kong are based on apartments only and for New York, Los Angeles and Miami based on condos only. All currency calculations are based on the prevailing rate as of Dec. 31, 2015.)


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Vornado Realty Trust’s Steven Roth and 220 Central Park South (Credit: Roth by Bruce Glikas/FilmMagic; Jim.henderson via Wikipedia Commons)

Vornado inks another $52M closing at 220 Central Park South

Chrissy Teigen and John Legend with 374 Broome Street (Credit: Karwai Tang/Getty Images; Google Maps)

John Legend, Chrissy Teigen snap up another Nolita penthouse

Marc Jacobs with 68 Bethune Street (Credit: Jacobs by Randy Brooke/WireImage; Townhouse by Nest Seekers via StreetEasy)

Marc Jacobs gets what he paid for West Village pad: $10.5M

The Gretsch at 60 Broadway in Williamsburg. (Credit: Douglas Elliman via StreetEasy)

Williamsburg pad hits market for almost $9M

Dennis and Karen Mehiel with 3 East 95th Street (Photo by Will Ragozzino/Patrick McMullan via Getty Images; Sotheby's)

Carhart Mansion duplex returns to market after four years

arrow_forward_ios
Loading...