In the world of real estate, the value of $1 million can vary drastically from one city to another. Today, we compare two of the most sought-after cities for property investment: Dubai and Singapore.
Dubai, known for its luxurious lifestyle and towering skyscrapers, offers a wide range of real estate options for a budget of $1 million. Analysis shows that $1 million would buy a property of around 1,485 square feet in the emirate. This is three to four times the size of what can be attained in cities like London, New York, or Hong Kong.
For example, a million dollars in Dubai can purchase a two-bedroom apartment at the branded residences of SO/ Uptown Dubai or a one-bedroom property at Dubai Harbour with sea views, private beach access, swimming pools, parks and more.
In contrast, the real estate market in Singapore is significantly different. With $1 million, investors are faced with the choice of several property types. For instance, for under $1 million buy a 506 sq. ft. one-bedroom apartment at Neem Tree, Jalan Kemaman. Another option is a 431 sq. ft. one-bedroom apartment at Soho 188, Race Course Road.
Here is a comparison of what $1 million will get you in Dubai and Singapore:
Burlington Square
Price: $1,100,000
Features:
- One-bedroom, one-bathroom
- 667 sq. ft.
- Condo facilities
- Season parking
- High-level, corner unit
- Close proximity to MRT (Mass Rapid Transit system).
The Sanctuary, Jumeirah Village Circle (JVC)
Price: AED3,400,000 ($925,673)
Features:
- Three en-suite bedrooms
- Reception rooms
- Four bathrooms
- Pool, gym access
- 3,609 sq. ft. built-up area
Lincoln Suites
Price: $1,100,000
Features:
- Studio with one bathroom
- City view
- Open-kitchen
- Balcony
- Prime location
The Springs
Price: AED3,999,950 ($1,089,024)
Features:
- Three bedrooms
- Study room, convertible to a fourth bedroom
- 4,263 sq. ft. plot
- Powder room
- Laundry room
The choice between Dubai and Singapore depends on individual preferences, investment goals, and risk tolerance. The emirate presents an opportunity for luxury properties, branded residences, and potential high returns, while Singapore offers the potential for long-term growth.
Despite the differing market conditions, both Dubai and Singapore offer unique investment opportunities, depending on investors’ risk tolerance, liquidity needs, and investment horizons.
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