_How much real estate can one million dollars buy you across the globe?
Postage stamp or palace? Shoebox or stadium? When it comes to value for your money, the amount of square metres US$ 1 million can buy you varies significantly across the globe.
Knight Frank's annual Wealth Report reveals the least affordable global cities through to the most affordable, with Monaco and São Paulo coming bottom and top respectively in terms of relative value.
In the tiny city-state of Monaco - home to some of the world's wealthiest and famous for the Grand Prix race, superyachts and casinos - US $1 million would afford you just 16 sq m of real estate; about the size of a large luxury bathroom. Hong Kong ranks just below Monaco where the price tag stretches to around 22 sq m of prime property. The same amount of cash would buy you 73 sq m of property in Berlin and 97 sq m in Melbourne, according to the latest research.
Identified as cities offering the best value for money are Dubai, Cape Town and São Paulo where the six figure sum will buy you approximately 200, 177 and 143 sq m respectively - the size of a roomy family home.
To help visualise bang for your buck, we look at what US $1 million can buy you across the globe by narrowing down properties that fall within the price tag and that are currently available through Knight Frank's global network of offices. The question being, will it fit just you and the cat or stretch to your classic car collection?
Hong Kong
What can I buy and how much for?
Property: One bedroom apartment in Kennedy Town
Asking price: $1,016,589.59
Area: 38 sq m
A one bedroom apartment in a 24-storey high rise building in Hong Kong's Kennedy Town.
New York
What can I buy and how much for?
Property - One bedroom apartment on in the Financial District, New York
Asking price - $1,100,000
Area - circa 52 sq m
An 'oversized', Armani/Casa designed west-facing loft in the acclaimed 20 Pine - a luxury downtown condominium in the heart of NYC's Financial District.
London
What can I buy and how much for?
Property - Two bedroom apartment in Wapping
Asking price - $1,060,948.96
Area - 78 sq m
Part of the popular Wapping development this bright two bedroom apartment with views over Hermitage Basin is moments from St Katharine Docks and a short walk to the City.
Paris
What can I buy and how much for?
Property - One bedroom apartment in the 8th arrondissement
Asking price - $1,190,288.49
Area - 52 sq m
A one bedroom apartment situated on the 3rd floor of a recently constructed luxury building with concierge in the upmarket 8th arrondissement - home to the Avenue des Champs-Elysée and the Hotel de Crillon.
Berlin
What can I buy and how much for?
Property - One bedroom new build apartment in Berlin-Mitte
Asking price - $1,031,883.36
Area - circa. 114 sq m
Sitting in the creative heart of Berlin-Mitte, this one bedroom new build apartment forms part of the A Space. Carved from an 1900's industrial building are exclusive loft units suitable for both living and working. The green areas of Mauerpark and the high streets of Kastanienallee and Oderberger Strasse in the Prenzlauer Berg district are a short walk away.
Dubai
What can I buy and how much for?
Property - Three bedroom apartment for sale in The Address Jumeirah Resort and Spa
Asking price - $1,086,453.36
Area - 172 sq m
Currently under construction, this three bedroom unit sits in the prestigious JBR Address, Dubai. Perks include resident access to pools, a spa, beach and gym as well as a concierge service and 24-hour security.
Miami
What can I buy and how much for?
Property - Three bedroom condominium in 3131 NE 7 Ave, Miami
Asking price - $1,032,132.59
Area - 156 sq m
A brand new three bedroom residence at the luxurious One Paraiso tower, designed by world-renowned Italian architect Piero Lissoni Enjoy unobstructed and panoramic views of Biscayne Bay and Miami Beach from the private terrace. Five star resident facilities include a state-of-the-art fitness center, a waterfront restaurant by award-winning Chef Michael Schwartz, tennis courts, two pools and spa.
Cape Town
What can I buy and how much for?
Property - Seven bedroom house in Bishopscourt, Cape Town
Asking price - $1,099,000
Area - 315 sq m & 2,782 sq m of land
A huge seven bedroom family home ringfenced by 2,782 sq m of lush garden with pool and cricket net. Adjunct to the main property are two self-contained income earning cottages as well as parking for six cars. Bishopscourt is a small, exclusive residential suburb of Cape Town.
This article is has been complied from research featured in The Wealth Report 2019 - Knight Frank's annual publication which brings together the latest intelligence and the sharpest insights into the issues that matter most to the world's wealthy, including global real estate trends and analysis.