What $1 Million Buys in Housing Markets Around the Globe

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April 24 2014 2:16 PM

What $1 Million Buys in Housing Markets Around the Globe

La Condamine, Monaco
161 square feet for the low, low price of $1 million.

Photo by Sean Gallup/Getty Images

This post originally appeared in Business Insider.

When it comes to luxury real estate, a million dollars goes a lot further in Dubai than it does in Monaco.

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According to the latest Wealth Report from real estate consulting firm Knight Frank, Monaco has the most expensive luxury real estate in the world, with $1 million buying just 15 square meters (161 square feet) of prime property—about the size of California’s smallest legal apartment.

In Cape Town, South Africa, on the other hand, $1 million will buy more than 14 times that much space.

The chart below, via Knight Frank, gives a great visualization of what $1 million buys in various luxury housing markets around the globe.

140424_BI_GlobalHousing1

Knight Foundation

At the high end of the spectrum, luxury real estate in Monaco costs as much as $6,800 per square foot. In Cape Town, it’s as low as $470 per square foot. See the full range of prices in the table below.

140424_BI_GlobalHousing2

Knight Foundation

Julie Zeveloff is a deputy editor at Business Insider. Follow her on Twitter.

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