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Sat 14 Mar 2020 12:57 AM

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Revealed: how Dubai luxury residential prices compare globally

Knight Frank's Wealth Report 2020 shows that $1m will buy you 154 sq m of prime real estate in Dubai compared to just 16.4 sq m in Monaco

Revealed: how Dubai luxury residential prices compare globally
Luxury living in Dubai can be achieved for a bargain in Dubai compared to the likes of Monaco and Hong Kong.

Luxury residential property prices in Dubai are 10 times cheaper than the world's most expensive city, it has been revealed.

The Prime International Residential Index (PIRI 100), part of Knight Frank's Wealth Report 2020, showed that for $1 million investors can snap up 154 sq m of prime real estate in Dubai where values fell by 0.7 percent last year.

By comparison, a list of the world's most expensive cities was topped by Monaco where the same price tag will only buy you 16.4 sq m, followed by Hong Kong (21.3 sq m) and London (30.4 sq m).

Kate Everett-Allen, head of international residential research at Knight Frank, said: “Monaco continues to be the most expensive city in which to buy luxury residential property.

"$1m buys just 16.4 square metres of accommodation here - the equivalent of a bedroom. This is followed by Hong Kong and London. New York slipped to fourth place in 2019 although the gap between London and New York is small with currency shifts also proving influential.”

How many square metres of prime property does $1m buy in key cities?

Monaco 16.4
Hong Kong 21.3
London 30.4
New York 32.2
Singapore 35.5
Geneva 37.5
Los Angeles 39.0
Paris 44.6
Sydney 50.4
Shanghai 58.2
Tokyo 64.7
Beijing 67.9
Berlin 77.5
Miami 89.7
Melbourne 95.6
Mumbai 102.2
Istanbul 115.1
Dubai 154.7
Cape Town 174.3
Sao Paulo 202.3

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