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USD 1 million can buy you almost seven times more living space in Dubai than in the world's financial capital — London, and almost nine times more space than in the world’s luxury capital Monaco. This information was provided in the latest comparative study by Knight Frank consultancy.
In square meters, this is expressed as follows: having USD 1 million at your disposal, you can buy an 155 square meter apartment in Dubai, while the same sum in London will get only a small-sized 21 square meter studio, and Monaco can offer you no more than a 17-sq meter attic or a hut, so to speak, although in case of Monaco, the idea of a hut is rather metaphorical, for the world’s luxury capital has much more to offer.
USD 1 million can also buy you a 20 sq m apartment in Hong Kong or a 39 sq m residential unit in Singapore.
For the same amount of money you can become an owner of a 41 sq m apartment in Sydney, Australia, or a 50 sq m unit in Paris, or 79 sq m apartment in Moscow.
Dubai took a second to the last place in Top-20 world capitals and major cities with the highest per sq m residential property cost. The only one "competitor" has sidestepped Dubai in this anti-rating. It was Cape Town, which took the last place with an average of 248 sq m residential units offered at a price of USD 1 million. But Dubai has all the advantages of a modern, developed social and economic center; it is a magnet for tourists, by wright bearing its title of the "future city" and the "city of wonders."
Besides, in March 2016, as imexre.com has previously reported, Dubai was ranked fifth in the top ten of the world cities most important for Ultra High Net Worth Individuals (UHNWIs), i.e. people with over $30 million excluding their primary residence. In this ranking the emirate rose ahead of cities such as Shanghai, Paris and Sydney. Additionally, due to its perfect road-transport system, the emirate has risen two ranks as the one of the best-connected cities in the world in the top ten most comfortable global cities.
