The consulting company Knight Frank has calculated how many square meters of luxury housing can be bought for $1 million in different cities of the world.
Monaco retains the title of the most expensive housing market in the world. However, in 2022, due to the dollar exchange rate, the total area of housing in Monaco increased by 2 m2 for its money compared to last year.
New York (33 m2) overtook London (34 m2), again due to the dollar, making it the third most expensive city.
Despite the fact that the annual price growth in Dubai amounted to 44%, the city ranks only 16th in terms of the cost per square meter. For $1 million in Dubai, you can buy 105 m2 of very high quality luxury real estate, which is five times more than in Hong Kong.
In Cape Town or Sao Paulo, the same budget offers more than 200 m2.
