Properties around the world you can buy with $1M
Have you ever wondered what kind of properties you can buy around the world if you had a million dollars to invest? Once hallmarks of luxury, now more and more commonplace, these million-dollar homes can look very different based on where you want to live. To help property investors around the world, we looked at data from some of the most popular cities to give a better understanding of how different real-estate investments are the world over. Investors in the UAE, UK and Europe looking to buy real estate within this budget, would have to set aside AED 3.67M, $772.2k or €882.2K respectively based on the current exchange rate. So if you have been thinking of the best places to buy property worth $1 Million around the world, read on to find out more!
According to a wealth report from Knight Frank, when it comes to property prices around the world, sale trends have changed significantly over the years. In some places, the prices have dropped while in others they have increased. For instance, in Dublin, property prices rose by 13.7% while in Gurgaon, India, they declined by 7%. Owing to these fluctuations in prices, Monaco, a sovereign city in France, where you could think of getting a reasonable unit for $1M earlier, all you can get now is a 16 sq.m, which is not much bigger than a walk-in closet. Similarly, in Hong Kong, with $1 million, you can only buy a 236 sq.ft property.
Curious about what kind of properties you can buy around the world for 1M dollars? Get ready to find out now!
United States of America
In America, if you plan to buy property worth $1 Million, depending on the area you want to live in, you could get anything from a 2-bedroom apartment in New York to a stately manor in West-Virginia.
Los Angeles and San Francisco
If you want to buy a luxury home in Los Angeles for $1M, you can expect to get a 3500 sq. ft home with a terraced backyard, offering a breathtaking mountain view in Burbank. However, if you want to buy property for a million in San Francisco, chances are that you will be living in a 1600 sq.ft home. You would be surprised to know that this is 19% less square footage than a year ago, so prices are going up for properties in SF.
Washington D.C and Chicago
Washington D.C and Chicago are relatively more affordable than some of the other states in the US. If you plan tobuy property worth $1 million in SF you would get a much smaller apartment than what you can find in Washington and Chicago. In the Washington real estate market, buyers can easily find a 4300 sq. ft house of 4:5 bedroom to bathroom and 4:6 bedroom to bathroom ratio.
In Chicago, buyers can expect to get a 3000 sq.ft house for $980,000 in Lakewood Balmoral and Old Town. When it comes to Michigan Avenue they can get a house with built-up areas in the region of 1500 sq.ft for just over $1M.
Virginia
With $1M to invest, buyers can get houses ranging from 2000-7000 sq.ft in areas such as John Browning, Luganboy, Cloughergoole, Croaghan, 57 Yew Park, and Waterton in Virginia.
Boston
In Boston, it is more difficult to find a 1-bedroom apartment with the same ease as in Los Angeles or Washington D.C but not impossible. Murray Hill and Kips Bay offer 2-bedroom apartments for $1M. In fact, if you stretch the budget a little, you could even get a newly constructed condominium with a built-up area close to 1000 sq.ft in Fan Pier for $1.25M.
New York
Though New York’s real estate market is considered the third most expensive market in the world, you can still find 2 to 5-bedroom apartments in New York in places like Fifth Avenue, Charlton Street, Midtown East, 717 Fenimore St, and Greenwich Street for a million bucks.
Canada
Depending on the region you are interested in, there are 2 to 8-bedroom apartments in Canada that you can easily purchase if you have a million dollars to invest in real estate.
Toronto
If you are looking for a unit in Toronto, you can expect to find 2 to 8-bedroom apartments in 26 Rustywood Dr, 2808-88 Blue Jays Way, 2102-65 St.Mary Street, and 1805 B-660 Sheppard Ave E, 110 Eastwood Ave, 630 Huntingwood Dr, and 228 Hallmark Avenue.
Calgary
Though the prices in Calgary have increased in the last couple of years, you can still find some amazing 1 to 4-bedroom apartments in Calgary in areas like 512 & 516 32 Street, 1403, 6 Street Northwest, and 150, Elbow River Road.
Montreal
Montreal has a variety of 2 to 4-bedroom houses that you can look into if you want to buy a property worth $1M. In fact, you can get a 3-bedroom condo, 2-bedroom loft and a 2-storey house in some of the more upscale areas like 454 Rue De La Gauchetiere Ouest.
United Kingdom
In the United Kingdom, you can find everything from modest studios to luxurious mansions if you are looking to buy $1 million properties. But remember one thing, it is harder to buy properties for a million in the UK i comparison to some of the other places on this list.
London
London is a permanent fixture on most lists featuring the most expensive cities to live in the world. So it’s easy to see why it would be relatively more expensive to buy properties in London than the other popular cities in the UK. That said, you can purchase 1-bedroom flats within this budget in some of the upmarket areas in West London and Chelsea Island.
Middlesborough
If you are planning to move to Middlesborough, and invest in a property for $1M, you will have no shortage of choice. You can buy 3-bedroom houses in areas like 4365 State Highway 1804,514 Pinnacle Aly and Harrogate. For larger 4-bedroom independent villas, the properties on Hubbard Springs Road are a good bet within this price range. If you are looking for still larger properties, Middlesbrough will not disappoint, as McGhee Street and Jellico have a fair few 5-bedroom villas that you can buy for $1M.
Manchester
One of the popular cities towards the north of the UK, in Manchester you can find 2-4 bedroom properties ranging from duplex penthouses to larger townhouses depending on the area of choice. Some of the popular areas for semi-detached 4-bedroom houses within this price range, include Salford, Stockport, Cheetham Hill, and Wilmslow. If you are looking for something closer to the Northern Quarter or Piccadilly Gardens, 2-bedroom apartments would be more common.
Europe
An extremely popular option for property investors from the world over, Europe has an abundance of choice when it comes to buying properties worth $1M.
Paris, France
Like other popular cities of Europe, Paris has a multitude of property units that you can buy for $1M. Ranging between 110 sq. ft to 950 sq. ft, there are various 1, 2-bedroom apartments and 3-bedroom condos in Paris that you can pick based on your requirements and personal preference. The apartments have spacious bedrooms, clean bathrooms, large living rooms with parquet flooring, and beautiful balconies overlooking the rolling greens of the garden. They also lie close to schools, restaurants and the Paris Metro Line 14 making it a convenient location, for both families and working professionals in the city.
Rome, Italy
From spacious 2- 3-bedroom apartments or large commercial units, you can find pretty much everything if you are looking to purchase property for $1 million in Rome. In terms of size, you can find properties with a built-up area from 430 sq. ft to 1450 sq. ft in both commercial and residential units in areas such as Cornelia, Ernesto Nathan, Angelo Tittoni, and Gaetano Mazzoni.
Barcelona, Spain
In the suburbs of Barcelona, you can find various 1,2, and 3-bedroom apartments with built-up area ranging from 1000 sq.ft to upwards of 2500 sq.ft. Built with wooden ceilings and clay tiles, these flats have large bedrooms with well-appointed bathrooms and an additional guest toilet. A private terrace on the top floor, lounge area, and a utility room are the other convenient spaces you can find in such apartments.
United Arab Emirates
Dubai
Given the fact that Dubai’s real estate market is a newcomer in comparison with the globally established markets, the properties in Dubai tend to be more economical than other cities on this list. Here, with $1M or AED 3.67M, you can easily buy a large home with a built-up area of over 3000 sq.ft. According to the current property listings on Bayut, there are over 34,000 properties in Dubai that fall under the price range of $1 million some of which are located in ultra-luxurious residential communities. You can find around 21,000 apartments in places like Palm Jumeirah, Business Bay, Dubai Silicon Oasis, Dubai Sports City, and Mirdif. If you are looking for a larger family unit, you can pick from an assortment of over 8000 villas in Arabian Ranches, Jumeirah Golf Estate, The Meadows, and The Springs. Apart from residential spaces, you can also find various commercial properties in Dubai in areas like Jumeirah Village Circle, Dubai Investment Park, The Greens, and Barsha Heights.
Abu Dhabi
Abu Dhabi is famous for its comfortable living standards and growing list of affordable housing options. In Abu Dhabi, you can select from well over 4000 properties, if you are looking to make an investment of $1 million or AED 3.67M. These properties come in various configurations, including studios, 1,2, and 3-bedroom apartments, 4 to 7-bedroom villas, penthouses, offices, shops, and various other commercial and residential buildings. Owing to the fact that there has been a recent fall in prices in the real estate market of the United Arab Emirates, it is very likely that you get to buy even more units than you would have initially expected.
Sharjah
Following the footsteps of Dubai and Abu Dhabi’s real estate market, Sharjah is another affordable option when it comes to average property prices around the world. You can find a whole variety of property units within $1M in Sharjah. From 1,2 and 3-bedroom apartments to villas and commercial spaces, there are plenty of properties on sale in Sharjah in popular areas like Al Suyoh, Al Tai, Al Taawun, Aljada, and Sharjah University City.
In short, there are a lot of choices if you are looking to buy property worth $1 Million from so many different houses around the world.
So which of these cities sounds the most exciting for you to considering investing in a property worth $1 million around the world?
