{"id":1530181,"date":"2025-04-14T02:35:00","date_gmt":"2025-04-14T06:35:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1530181"},"modified":"2025-04-14T02:35:00","modified_gmt":"2025-04-14T06:35:00","slug":"what-1-million-can-buy-in-prime-real-estate-around-the-world","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/what-1-million-can-buy-in-prime-real-estate-around-the-world\/1530181\/","title":{"rendered":"What $1 Million Can Buy In Prime Real Estate Around The World"},"content":{"rendered":"

What $1 Million Can Buy In Prime Real Estate Around The World<\/span><\/p>\n

\n

Across global luxury property markets, $1 million doesn\u2019t go as far as it used to.<\/strong><\/p>\n

In Dubai, for instance, a $1 million dollar property in 2020 is worth $2.7 million today. Meanwhile, in Miami, it would be worth $1.9 million. However, in some markets, cracks are beginning to show amid higher rates and\u00a0frothy valuations<\/a>\u00a0spurred by the pandemic.<\/p>\n

This graphic, via Visual Capitalist’s Dorthy Neufeld,<\/a> shows what $1 million can buy in prime real estate across 20 markets worldwide, based on data from\u00a0Knight Frank<\/a>.<\/p>\n

<\/a><\/p>\n

Luxury Properties Are Getting Pricier<\/h2>\n

Below, we show the square footage that $1 million covers across luxury real estate markets, defined as the top 5% of residential listings as of 2024:<\/p>\n

<\/a><\/p>\n

As we can see, $1 million covers just 205 square feet in\u00a0Monaco<\/strong>, with an average new build costing a staggering $39 million in 2024.<\/p>\n

Monaco\u2019s appeal for the ultra-rich largely stems from its tax-haven status as it has no income tax, inheritance tax, or capital gains tax. Additionally, the scarcity of land met with high demand contributes to high property values.<\/p>\n

Despite economic challenges,\u00a0Hong Kong<\/strong>\u00a0ranks as the second-most expensive luxury market. While many properties of Chinese real estate tycoons have sold at a sharp discount since the collapse of China Evergrande, it still commands top dollar for the most exclusive residences. Overall, buying power has moderately decreased compared to 2014 levels.<\/p>\n

On the other hand, buying power has risen notably in\u00a0London<\/strong>\u00a0due to a falling pound against the dollar and a property market correction. Over the last decade, it has increased by 43%, the biggest jump across cities analyzed.<\/p>\n

In many ways, this bucks the trend of a majority of prime real estate markets globally. In particular,\u00a0Dubai<\/strong>\u00a0has seen buying power drop 59% since 2014, followed by\u00a0Miami<\/strong>\u00a0(-54%)\u00a0Lisbon<\/strong>\u00a0(-51%), and\u00a0Shanghai<\/strong>\u00a0(-47%) amid robust demand and rising affluence.<\/p>\n

To learn more about this topic from a real estate perspective, check out this\u00a0graphic<\/a>\u00a0on the world\u2019s least affordable housing markets.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 04\/13\/2025 – 22:35<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/what-1-million-can-buy-prime-real-estate-around-world<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

What $1 Million Can Buy In Prime Real Estate Around The World Across global luxury property markets, $1 million doesn\u2019t go as far as it…<\/p>\n","protected":false},"author":0,"featured_media":1530182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1530181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1530181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1530181"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1530181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1530182"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1530181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1530181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1530181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}