_How much bricks and mortar does $1 million buy you across the globe in 2021?
Each year, Knight Frank's award-winning research teams calculate how many square metres in prime cities across the globe US $1 million will buy you.
We bring the data to life with examples of properties around the price bracket and currently on the market through Knight Frank in key cities featured in The Wealth Report - our flagship publication charting global wealth, investment trends and property markets.
Raising few eyebrows, Monaco and Hong Kong offer the least amount of square metres for the six figure sum - 15 and 23 sq m respectively. They are still the world’s most expensive residential markets – positions they have held for the past decade.
London retains its third spot with New York in fourth place. Geneva has moved up the rankings this year, while cities in emerging markets such as Cape Town and São Paulo offer more space for your money than last year, due to a combination of softening prices and currency shifts against the dollar.
We give colour to this year's data, applying the price tag to a selection of properties available to purchase through Knight Frank's network of global offices to illustrate proverbial bang for your buck across cities and continents.
London - 1-bedroom apartment in The Arc, Old Street
Guide price: $1,147,000
Area: 50 sq ft
A stylish, freshly launched apartment 1 bedroom apartment with private 60 sq ft balcony on the 8th floor of The Arc - a collection of 100 1, 2 and 3-bedroom interior-designed apartments, just a five minute walk from Old Street station.
Residents will enjoy communal outdoor spaces and an exclusive collection of amenities including a 7th floor terrace, yoga studio, screening room, golf simulation, residents' lounge and a fitness suite.
New York - 1-bedroom house with private deck in Greenpoint, Brooklyn
Guide price: $1,195,000
Area: 90 sq m
Beautiful, turnkey duplex studio apartment with over 860 square feet of private exterior space spread over two levels available at 173 Bayard Street, Greenpoint. Residence 1R epitomizes industrial chic throughout its 972 square feet of interior space with polished concrete floors, exposed brick and steel beams.
Paris - 1-bedroom apartment in the heart of the Marais, 3rd/4th arrondissement
Guide price: $930,000
Area: 49.6 sq m
Located in the heart of the Marais, one of the city's oldest and most characterful districts, on the fourth floor of a beautiful 17th century building, this charming apartment of 49.6 sq m benefits from a beautiful light and a delightful view of the Saint-Claude church. This is a great investment and would make an ideal base for long weekends or work.
Berlin - 2-bedroom apartment with terrace in Berlin's Tiergarten district
Guide price: $1,181,000
Area: 119 sq m
This 2-bedroom light-filled apartment sits in 3 Hoefe - a new city centre development offering a mix of 223 studios, penthouses and apartments focused around three green courtyards.
A space to breathe in the heart of Berlin, the new development sits on redeveloped Lützowstrasse in Berlin's popular Tiergarten area in the Mitte and a short walk from iconic Potsdamer Platz.
Miami - 1-bedroom condominium, Miami Beach
Guide price: $1,140,000
Area: 83 sq m
5-star hotel condo hotel living with access to all services and amenities including private residential lobby fully staffed with a concierge, valet, doorman, front desk, housekeeping, in-room dining, 14,000 sq ft gym, rooftop pool with panoramic views of the Miami skyline, restaurants and more.
The flexible rental policy provides for a great investment property with the option of participating in the hotels rental program, rent privately or enjoy for personal use.
Cape Town - 4-bedroom house in Higgovale, Cape Town
Guide price: $1,162,000
Area: 903 sq m
A large north facing family home located high up in Higgovale offering exceptional views of Lions Head, Signal Hill and the Cape Town city bowl. Situated on a 903 sqm plot and zoned GR2, the property offers an ideal opportunity for a buyer to extend or fully develop the property.
With a double and spacious single garage, plus generous off-street parking spaces, this prime Higgovale property truly offers an exceptional lifestyle and investment opportunit.
To deep dive into some of the findings and explore exactly what each aspirational city has to offer and why, visit The Wealth Report 2021.
Knight Frank's much anticipated yearly publication offers unique research and thought-leadership on emerging and established urban hotspots that investors, in their search for stability or wealth, should have on their radars in a post-Covid world.