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<\/a><\/p>\nKnight Frank’s data shows that property buyers can also expect to pay more for prime real estate per square metre, globally.<\/p>\n
The group calculates this based on typical luxury residential values and the exchange rate at the end of 2020, compared to how many square metres $1 million will buy you.<\/p>\n
“Monaco and Hong Kong are still the world\u2019s most expensive residential markets \u2013 positions they have held for the past decade. London retains its third spot, with New York in fourth place,” the group said.<\/p>\n
“Geneva has moved up the rankings this year, while cities in emerging markets such as Cape Town and S\u00e3o Paulo offer more space for your money than last year, due to a combination of softening prices and currency shifts against the dollar.”<\/p>\n
Based on the above data, BusinessTech looked at what R5 million will buy you in some of these key prime residential markets, including Cape Town and London.<\/p>\n South Africa<\/strong><\/p>\n 4 bedroom house in Constantia, Cape Town – R4.65 million<\/strong><\/a><\/p>\n 4 bedroom house in Rosebank , Cape Town – R5.25 million<\/a><\/strong><\/p>\n 4 bedroom house for sale in Mowbray, Cape Town – R4.65 million\u00a0<\/a><\/strong><\/p>\n UK<\/strong><\/p>\n Studio flat in Romford, London – R4 million (\u00a3200,000)<\/a><\/strong><\/p>\n 2 bedroom flat in Heathcote Grove, London – R4.4 million (\u00a3220,000)<\/a><\/strong><\/p>\n Australia<\/strong><\/p>\n 1 bedroom apartment in Melbourne, Australia – R4.9 million (AUD $450,000)<\/a><\/strong><\/p>\n Canada<\/strong><\/p>\n 1 bedroom apartment in Toronto Canada – R5.9 million (CAD $519,000)<\/a><\/strong><\/p>\n<\/a><\/p>\n
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