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 LA ...

TRD LOS ANGELES /
Mar.March 03, 2016 01:00 PM

From the New York website: What does $1 million get you in luxury real estate? Angelenos know that the answer, at least in prime neighborhoods, is “not a hell of a lot, but more than it does in New York.” But since many luxury apartment buyers are choosing between a host of 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 the City of Angels, you’d be able to secure a 700-square-foot master bedroom. 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.

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
Gary Winnick and Casa Encantada. Inset photo dates from 1939 (credit: Winnick & Company, The Huntington Library)

At $225M, Bel Air’s Casa Encantada becomes America’s priciest listing

Sabah Al-Khalid Al-Sabah and the 157-acre Mountain of Beverly Hills (Credit: Wikipedia and iStock)

Kuwaiti royal was defrauded of $160M investment in Mountain of Beverly Hills: lawsuit

The top five listings of the last seven days

Here are the priciest resi listings in LA County last week

Stacy Gottula, Fredrik Eklund, and Palazzo di Amore

Eklund-Gomes snags a big fish from The Agency

Clockwise from top left: 1155 Angelo Drive, 1116 Laurel Way, 613 N. Sierra Drive, 32453 Pacific Coast Highway and 705 N. Arden Drive (Credit: Redfin)

Beverly Hills dominates list of top resi sales in LA County last week

Russell Weiner and the Bird Streets home

Russell Weiner wants to flip his newly-bought Bird Streets manse like a Rockstar

The four top listings (Credit: Zillow and Redfin)

Here are the priciest resi listings in LA County last week

Celebrity real estate sales: Ellen DeGeneres, Jonah Hill

This week in celeb real estate: Ellen DeGeneres flips for Santa Barbara and Jonah Hill settles down in Santa Monica…and more

arrow_forward_ios