What a $1 million home looks like in Cape Town, New York, London, and Paris
Cape Town’s property prices continue to rise, with only the Chinese city of Guangzhou rising more over the last year, according to the latest PIRI Index.
Property group Knight Frank compiled a brief snapshot of just how many square metres of prime property your money would buy you in the most desirable locations across the globe.
Cape Town features on the list, and when compared to other top property destinations, Knight Frank pointed out that prime property is relatively cheap in the Mother City, with $1 million (R11.85 million) buying an average of 157 square metres of prime space.
In contrast, London (at an average of 28 square metres for $1 million), New York (25 square metres), and Paris (46 square metres) are all considered far more expensive options – with number one ranked Monaco only offering an average of 16 square metres of prime property per $1 million.
BusinessTech looked at homes from the major cities to see just how much $1 million can buy you around the world.
2 bedroom apartment for sale in Clifton – R10.5 million ($891,660)
1 bedroom apartment in New York – $980,000
3 bedroom apartment in Paris – €820,000 ($1,021,000)
1 bedroom apartment in London – £800,000 ($1,116,000)
Read: What $1 million buys you in Cape Town, Paris, London, and New York
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