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 Miami...

TRD MIAMI /
Mar.March 03, 2016 03:45 PM

From the New York websiteWhat does $1 million get you in luxury real estate? For Miami, as a crop of new developments push waterfront condo prices into the stratosphere, the answer seems to be “not very much.” But since many luxury apartment buyers are choosing between Miami, 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
Four Seasons Residences at the Surf Club in Surfside

Miami condo sales go up, but dollar volume falls

Miami condo sales go up, but dollar volume falls
Map of condo sales and the Surf Club Four Seasons (Credit: Google Maps)

Down again: Miami condo sales declined last week

Down again: Miami condo sales declined last week
Map of condo sales and Grove at Grand Bay at 2675 South Bayshore Drive (Credit: Google Maps)

Miami condo sales rise in first week of September

Miami condo sales rise in first week of September
Map of priciest condo sales and One Bal Harbour (Google Maps)

Condo sales rise, but dollar volume falls again in Miami-Dade

Condo sales rise, but dollar volume falls again in Miami-Dade
Map of priciest condo sales and One Thousand Museum (Credit: Google Maps)

Miami-Dade condo sales rise while dollar volume falls again

Miami-Dade condo sales rise while dollar volume falls again
Map of priciest condo sales and Turnberry Ocean Colony (Credit: Google Maps)

Condo sales rise, but dollar volume falls in Miami-Dade

Condo sales rise, but dollar volume falls in Miami-Dade
Map of priciest condo sales and Bayview Fisher Island (Credit: Google Maps)

Weekly condo sales fall again in early August

Weekly condo sales fall again in early August
Map of priciest condo sales and 321 Ocean (Credit: Google Maps)

Miami’s condo market rebounds, led by $22M sale at 321 Ocean

Miami’s condo market rebounds, led by $22M sale at 321 Ocean
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...