The lucky few that can afford to spend big money on property have lots of exotic options. Here’s what $1m will buy you across the globe.
It’s no secret that the global economy is taking strain. Growth is muted in many parts of the world and some countries have slid into outright recession. That said, there is still a lot of money around and there will always be those who can afford to spend big on property.
Here’s what $1m will buy in some of the world’s most prominent cities:
A bite of the Big Apple:
$1m will buy you this designer condo in Manhattan. Situated on the 11th floor of a 1928 Manhattan ‘landmark’, this studio condo comprises one bedroom, one bathroom, an open plan lounge and kitchen. The condo was refurbished in 2009 and boasts Armani/ Casa fittings. Notable features include a massive spa bath, ample closets, a comfortable sleeping alcove and a full line of Sub-Zero and Miele appliances. The building also offers a full set of amenities including a 24-hour concierge, a gym, a health spa offering a multitude of services, a swimming pool, a hot tub, a billiards room, a golf simulator, a roof deck with pool, a bike room, several lounges and an on-site cleaner. The condo is surrounded by a variety of popular amenities and lies within striking distance of all downtown attractions.
Minimalist living in Geneva:
This 60sqm studio apartment in Geneva, Switzerland comes in at just under the $1m mark. The apartment was recently refurbished and features an entrance hall, one bedroom, one bathroom with shower, an open plan kitchen and living area and a balcony with garden views. The building offers a cellar, basement parking, a laundry and a communal garden. All manner of major amenities lie within easy reach.
The country life in Auckland, New Zealand:
This home is situated around an hour from Auckland Central. Described as large and sunny, this four-bedroom property is priced around the $1m mark but will probably far exceed that as Auckland property prices are currently on the boil. In addition to the bedrooms, this property features two bathrooms, a spacious kitchen with scullery and a separate lounge which flows out to a large outdoor entertainment area. A popular school, beaches, a forest and vineyards all lie within close proximity.
Apartment in need of an overhaul in London:
This second-floor $945 255 apartment at Philbeach Gardens, Kensington comprises a reception room, two bedrooms and a bathroom as well as a roofed terrace off the main bedroom. At 195sqm’s, the apartment is large by London standards but is in need of an overhaul which would add considerably to the cost. Other plus points acting in this property’s favour include the fact that it is situated in a quiet, one-way residential street and lies within close reach of numerous shopping and restaurant options. Good transport links also add to this property’s appeal.
This grand Cape property sits astride 1,496sqm’s in the upmarket suburb of Rondebosch. It features five bedrooms, an office, a large kitchen, two bathrooms, a lounge and dining room, garages for two cars, seven covered parking spaces, a pool, a fully equipped outside entertaining area and staff accommodation. Oregon flooring, stained glass windows, walk-in closets and original working fire places feature throughout the property. A magnificent, established garden and central locality completes the package.
View this 5-bedroom house in Rondebosch here.
According to Knight Frank’s latest Prime Residential Index, the following are the top 10 most expensive cities in the world to buy property in, based on how many prime square meters $1m will buy:
• Shanghai: 46.2sqm’s
• Moscow: 43sqm’s
• Paris: 41.7sqm’s
• Sydney: 41.2sqm’s
• New York: 40.2sqm’s
• Geneva: 34.7sqm’s
• Singapore: 32.6sqm’s
• London: 25.2sqm’s
• Hong Kong: 20.6sqm’s
• Monaco: 15sqm’s
Unsurprisingly, when shopping around it’s all about location. If Knight Frank’s figures are anything to go by, you might need to set your sights elsewhere if you want more space and ‘only’ have $1m to spend in a prime area.