Global Property Prices: How Much Space $1 Million Gets In Top Cities

If you’ve ever wondered how much space $1 million can actually buy in different parts of the world, the answer might surprise you. From ultra-luxury hubs to relatively spacious markets, property prices vary dramatically across global cities. According to data by the 2026 Knight Frank Wealth Report (Q4 2025), the same budget can get you anything from a compact studio to a fairly large home, depending entirely on where you’re buying.

1. Monaco — 16 sq m
At the top of the list, Monaco remains the priciest real estate market in the world. With just 16 square metres for $1 million, you’re essentially looking at a compact studio. Limited land and ultra-high demand from the wealthy keep prices sky-high.

2. Hong Kong — 23 sq m
Hong Kong continues to be one of the least affordable housing markets globally. Even with a million dollars, space is tight, reflecting the city’s dense population and high demand.

3. Geneva and Singapore — 28 sq m
Both Geneva and Singapore offer similar value for money. While these cities are known for their high quality of life, property comes at a premium, limiting the space buyers can afford.

4. London — 33 sq m
London’s real estate remains expensive despite market fluctuations. A million dollars gets you a modest apartment, especially in central areas.

5. New York — 34 sq m
In New York, particularly Manhattan, space is a luxury. Buyers can expect a small apartment, with location playing a huge role in pricing.

6. Los Angeles — 36 sq m
Los Angeles offers slightly more room than New York, but prime neighbourhoods still come at a steep cost.

7. Paris and Tokyo — 37 sq m
Paris and Tokyo strike a balance between price and space. While still expensive, buyers get marginally more room compared to top-tier markets.

8. Sydney — 42 sq m
Sydney’s property market offers a bit more breathing room. However, its popularity and lifestyle appeal keep prices elevated.

9. Shanghai — 44 sq m
Shanghai provides relatively better value among major global cities, reflecting its rapidly growing but still evolving property market.

10. Miami — 58 sq m
In Miami, buyers can enjoy significantly more space. The city’s real estate market offers better value compared to other major US hubs.

11. Berlin — 59 sq m
Berlin stands out in Europe for offering more space at comparatively lower prices, despite rising demand in recent years.

12. Dubai — 62 sq m
Dubai offers strong value for money, with modern infrastructure and relatively spacious properties for the same budget.

13. Madrid — 75 sq m
Madrid is one of the more affordable European capitals on this list, allowing buyers to secure a comfortable-sized home.

14. Melbourne — 83 sq m
Melbourne provides generous space compared to most global cities, making it attractive for buyers seeking value.

15. Mumbai — 96 sq m
Interestingly, Mumbai offers the most space on this list for $1 million. While still expensive by Indian standards, buyers get significantly more room compared to global luxury hubs.