Size of luxury property one million dollars can buy worldwide 2018, by city

The statistic presents the amount of square meters of luxury property that one million dollars could buy in selected cities worldwide in 2018. It was found that one million dollars could buy 16 square meters of luxury property in Monaco in 2018.

Luxury real estate – additional information

Real estate is considered to be one of the best long term investments and it certainly is one of the major investments one might make during a lifetime. As far as luxury real estate is concerned though, only the most affluent individuals or prominent real estate companies can afford to invest in prime properties in the world’s most attractive locations.

Monaco was the leading city in terms of most expensive luxury real estate worldwide in 2018. One million dollars could buy only 16 square meters of luxury property there. In London, the same amount of money could purchase 31 square meters of luxury real estate. In Tokyo one million dollars was enough to buy 67 square meters of prime real estate in 2018.

Prices of luxury real estate are greatly influenced by its location, view and proximity to various services, but also depend on economic conditions and therefore are subject to fluctuation. In 2018, the highest rate of luxury real estate price growth could be observed in Manila, Philippines, where prices increased by 11.1 percent. Other cities with substantial prime real estate property price growth were Edinburgh (10.6 percent), Berlin (10.5 percent), Munich (10 percent), Buenos Aires (10 percent), and Mexico City (9.5 percent).

Size of luxury property that one million dollars could buy in selected cities worldwide in 2018

Size in square meters
Sao Paulo200
Cape Town177
Dubai143
Istanbul109
Mumbai100
Melbourne97
Miami93
Berlin 73
Tokyo67
Beijing67
Shanghai57
Sydney52
Paris46
Geneva41
Los Angeles*39
Singapore36
London31
New York*31
Hong Kong22
Monaco16
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Source

Release date

2019

Region

Worldwide

Survey time period

Q4 2018

Special properties

results based on responses from almost 900 of the world’s leading private bankers and wealth advisors.

Supplementary notes

*New developments only.
All currency calculations are based on the exchange rate on 31 December 2018.

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