Where $1 million buys the least: The most expensive cities for real estate globally
According to the 2024 Knight Frank Wealth Report, the world's most expensive cities for real estate are ranked based on the amount of prime residential space that $1 million can purchase. This metric highlights the exclusivity and high demand in these urban centres.
Here are the top 5:
Monaco: Maintaining its position as the priciest real estate market globally, $1 million in Monaco secures just 16 square metres (approximately 172 square feet) of prime residential property.
Hong Kong: In this dense financial hub, $1 million buys about 22 square metres (approximately 236 square feet) of luxury living space, reflecting its limited land availability and high demand.
Singapore: Known for its robust economy and status as a global financial centre, Singapore offers 32 square metres (approximately 344 square feet) of prime property for $1 million.
London: Despite recent market adjustments, London remains a premium market where $1 million can acquire about 34 square metres (approximately 366 square feet) of luxury property.
Geneva: As a hub for international diplomacy and finance, Geneva's real estate market is highly competitive, with $1 million purchasing around 37 square metres (approximately 398 square feet) of prime residential space.
