How Much Real Estate Will $1 Million Buy?

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Posted: Jun 15, 2022

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“There are three things that matter in property: location, location, location”

Those are words from Harold Samuel, a British real-estate mogul from the 1900s. Broadly speaking, it’s a quote that still holds true—property values in the world’s best cities have always been worth a pretty penny. Of course, certain cities simply hold more appeal for wealthy people, and as a result, competition in the prime real estate market can be fierce.

The scarcity of real estate is driven by trends such as urbanization — the migration of people into cities. While the first examples of cities were built thousands of years ago, it was only recently that the majority of the population began to live in them. In fact, the urban population just overtook the rural population for the first time in 2007. To learn more about the sky-high cost of prime property in cities, the infographic on the opposite page visualizes data from Knight Frank’s Prime International Residential Index (PIRI 100).

What’s a Million Dollars Good For? The following table lists the number of square feet that you could buy with one million dollars in various cities. There are more cities on this list than in the graphic to create a more

City CountryTotal sf of prime property $1 million U.S. dollars can buy
MonacoMonaco157                                                                                             
Hong KongChina229                                                                                          
London United Kingdom329                                                                                   
New York United States 358                                                                         
Singapore Singapore  381                                                                              
GenevaSwitzerland  399                                                                                
Sydney Australia 446                                                                              
Shanghai China452                                                                                    
Los Angeles United States454                                                                                     
Paris France 455                                                                                     
Beijing China 601                                                                               
Tokyo Japan 692                                                                                  
Berlin Germany 786                                                                                   
Miami  United States833                                                                             
Melbourne Australia 907                                                                                  
Madrid Spain  1136                                                                            
Mumbai  India1164                                                                               
Dubai  UAE 1469                                                                               
Cape Town South Africa2363                                                                                    
São Paulo  Brazil 2759

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