When it comes to luxury real estate, a million dollars goes a lot farther in Monaco than it does in Dubai.
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 $US1 million buying just 15 square meters (161 square feet) of prime property — about the size of California’s smallest legal apartment.
In Cape Town, on the other hand, $US1 million will buy more than 14 times that much space.
The chart below, via Knight Frank, gives a great visualisation of what $US1 million buys in various luxury housing markets around the globe.
At the high end of the spectrum, luxury real estate in Monaco costs as much as $US6,800 per square foot. In Cape Town, it’s as low as $US470 per square foot. See the full range of prices in the table below.
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