What $1 Million Buys in Real Estate Across 10 Cities (2026)
What $1 million buys in real estate varies dramatically across global cities. In Monaco, $1M buys a 400-square-foot studio. In Dubai, it buys a 1,800-square-foot apartment on the Palm. The differences reflect local market dynamics, land scarcity, and demand from HNW buyers.
The $1M Global Property Comparison
| City | Property Type | Size (sq ft) | Neighborhood | Annual Cost of Ownership |
|---|---|---|---|---|
| Monaco | 1-bedroom apartment | 400–500 sq ft | Central | €5K–€10K |
| Hong Kong | 1-bedroom apartment | 500–600 sq ft | Mid-Levels | HKD 30K–50K |
| London | 1-bedroom apartment | 700–800 sq ft | Zone 1 | £5K–£10K |
| New York | 1-bedroom apartment | 700–900 sq ft | Manhattan | $15K–$25K |
| Singapore | 2-bedroom apartment | 800–1,000 sq ft | Core Central | SGD 15K–25K |
| Sydney | 2-bedroom apartment | 800–1,000 sq ft | CBD/Inner | AUD 10K–15K |
| Paris | 2-bedroom apartment | 800–1,000 sq ft | 6th/7th arr. | €3K–€6K |
| Tokyo | 2-bedroom apartment | 800–1,100 sq ft | Minato/Shibuya | ¥500K–1M |
| Miami | 2-bedroom condo | 1,100–1,400 sq ft | Brickell/South Beach | $10K–$15K |
| Dubai | 2-bedroom apartment | 1,500–1,800 sq ft | Palm/Dubai Marina | AED 15K–25K |
Price per Square Foot
| City | Price per SQFT | Rank |
|---|---|---|
| Hong Kong | $2,000–$2,500 | 1 |
| Monaco | $2,000–$2,500 | 2 |
| Singapore | $1,500–$2,000 | 3 |
| London | $1,200–$1,600 | 4 |
| New York | $1,200–$1,500 | 5 |
| Paris | $1,000–$1,400 | 6 |
| Sydney | $800–$1,200 | 7 |
| Miami | $700–$1,000 | 8 |
| Tokyo | $600–$900 | 9 |
| Dubai | $500–$800 | 10 |
What $1M Buys in Each City
Monaco ($2,000–$2,500/sqft)
$1M buys a 400–500 sq ft one-bedroom apartment in the Port or Monte Carlo areas. No new supply is coming to market, and prices continue to rise 5–10% annually. The zero income tax premium is baked into every square foot.
London ($1,200–$1,600/sqft)
$1M buys a 700–800 sq ft one-bedroom apartment in Zone 1 (Knightsbridge, Marylebone, Notting Hill). Leasehold terms average 100–150 years. Annual service charges are £5K–£10K.
New York ($1,200–$1,500/sqft)
$1M buys a 700–900 sq ft one-bedroom pre-war apartment in Manhattan (Upper East Side, Upper West Side, Greenwich Village). New development units at this price are rare.
Dubai ($500–$800/sqft)
$1M buys a 1,500–1,800 sq ft two-bedroom apartment on the Palm Jumeirah or in Dubai Marina. Alternatively, a one-bedroom apartment in the Burj Khalifa area. Zero property tax means annual holding costs are minimal.
Frequently Asked Questions
Where does $1M go furthest in real estate?
Dubai offers the most space for $1M (1,500–1,800 sq ft) with the lowest annual holding costs (AED 15K–25K).
Where does $1M go least far?
Monaco and Hong Kong offer the least space (400–600 sq ft) for $1M.
Is $1M enough for a luxury property?
In Dubai, Miami, and Tokyo — yes, $1M buys a genuine luxury home. In Monaco, London, Hong Kong, and New York — $1M buys a modest one-bedroom.
Which city has the best value for $1M?
Dubai offers the most space, best quality, and lowest holding costs. For lifestyle, Tokyo offers surprisingly good value at $600–$900/sqft.
Last updated: February 2026. Prices are subject to market fluctuation. Verify with local real estate agents.