Tuesday, March 20, 2018 / by Rich Hernandez
It seems like it wasn’t long ago that putting $1 million into a piece of property could guarantee you’d live in the lap of luxury. Nowadays buyers get comparatively less for their dollar. Next time one of your clients is frustrated about not being able to find a dream home in their price range, help them put that amount of money into perspective:
- For $1 million, you can buy 172 square feet in Monaco (about the size of a walk-in closet)
- For $1 million, you can buy 236 square feet in Hong Kong
- For $1 million, you can buy 270 square feet in New York
Prices in Los Angeles; Cape Town, South Africa, and Sao Paulo, Brazil get progressively more affordable. A whole array of rankings is available for if you want to know what real estate costs all over the world.