What a Million dollars buys you in The Bahamas vs The World

A Million Dollars in The Bahamas vs The World


A Million dollars might seem like a lot, but how much house will it buy in the worlds most luxury cities? Your idea of a Million dollar home will never be the same! According to CNBC, $1 Million will hardly buy you a 1 bedroom apartment in the top 10 most expensive markets in the world but where does The Bahamas stack up against the rest of the world? R.E. Properties Bahamas is here to demonstrate this tremendous value! With twelve months of summer and the most beautiful beaches in the world, you might be surprised how affordable your dream vacation home in The Bahamas really is!


Number 1; Monaco, a country about the size of New York City's Central Park located on the Southern coast of France, is famous as a tax haven for the ultra-wealthy. One in three Monaco residents is a millionaire — and they need to be because the city-state has some of the steepest real estate prices on the planet.

 

$1 million buys 162 square feet of luxury property

Cost of a 1500-square-foot luxury flat: $9.3 million

Cost of a 2,500-square-foot luxury home: $15.4 million

Cost of a large 4,000-square-foot luxury home: $24.8 million

Number 2; Hong Kong's economy has boomed in the past decade, and property values have rapidly expanded along with it, growing by more than 300 percent, according to The New York Times. With property costing about $4,510 per square foot, microflats have become a popular option in Hong Kong. One microflat — 275 square feet — on the outskirts of the city sold for $722,000 in 2014.

 


$1 million buys 221.7 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $6.8 million

Cost of a 2,500-square-foot luxury home: $11.3 million

Cost of a large 4,000-square-foot luxury home: $18 million


Number 3; London, a major global financial hub and densely populated metropolitan area, London has long been a pricey place to live. Home prices in some parts of London surged by 32 percent in 2014 alone, reports The Daily Mail, and the average home price in the historic city is nearly 20 times the average salary in Britain, according to The New York Times.

 


$1 million buys 271 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $5.5 million

Cost of a 2,500-square-foot luxury home: $9.2 million

Cost of a large 4,000-square-foot luxury home: $14.7 million


Number 4; Singapore is a bustling city that has attracted the ultra-wealthy of Asia and beyond. As its population has climbed to around 5.5 million, the city's cost of living has shot up, earning it the distinction of being named the most expensive city in the world of 2015 by the Economist Intelligence Unit, according to the BBC. For $1 million, you can get a space of about 19 square feet.

 


$1 million buys 351 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $4.3 million

Cost of a 2,500-square-foot luxury home: $7.1 million

Cost of a large 4,000-square-foot luxury home: $11.4 million


Number 5; A lakeside city in Switzerland, Geneva is an idyllic location popular among tourists and wealthy expatriates enticed by the country's substantial tax breaks. Living in the city means paying some of the highest housing prices in the world, however.

For $1 million, a home buyer can get a space about half the size of an average hotel room in the U.S. Buying a condominium in Geneva costs 14.6 times the national average income, far above the costs of homes in other Swiss cities, according to a report from Swiss bank Credit Suisse. The report also projects that Geneva housing prices will fall by 2.8 percent in 2015.

 


$1 million buys 374 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $4 million

Cost of a 2,500-square-foot luxury home: $6.7 million

Cost of a large 4,000-square-foot luxury home: $10.7 million


Number 6; New York City continues to rule lists of the most expensive places to live in the U.S., and home prices are a big reason why. The median listing sales price in New York City is $1.2 million according to Trulia.

 


$1 million buys 433 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $3.5 million

Cost of a 2,500-square-foot luxury home: $5.8 million

Cost of a large 4,000-square-foot luxury home: $9.2 million


Number 7; Sydney, Australian home prices have risen 24 percent in the past three years, but most of the housing cost increases have been limited to Sydney and other major cities, according to The Sydney Morning Herald. Sydney has seen prices jump 39 percent, an increase that the Reserve Bank of Australia governor called "crazy."

 


$1 million buys 444 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $3.4 million

Cost of a 2,500-square-foot luxury home: $5.6 million

Cost of a large 4,000-square-foot luxury home: $9 million


Number 8; Paris, Despite a decline in housing prices in 2013, Paris is still one of the most expensive housing markets in the world. For $1 million, home buyers can purchase a space that's about 21 square feet. With the dollar strong compared to the Euro and housing prices trending down, now might be a good time for American expatriates to consider investing in a residential property in Paris.

 


$1 million buys 449 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $3.3 million

Cost of a 2,500-square-foot luxury home: $5.6 million

Cost of a large 4,000-square-foot luxury home: $8.9 million


Number 9; Despite having experienced housing booms in the past decade, Russia's economy has been hurt by a fall in oil prices in late 2014 and sanctions against the country, reports Financial Times. Russia's largest city and capital, Moscow, is feeling the pain of the downturn. Much of the decline in Moscow property values, however, can also be attributed to the strengthening of the dollar over the rouble.

 


$1 million buys 463 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $3.2 million

Cost of a 2,500-square-foot luxury home: $5.4 million

Cost of a large 4,000-square-foot luxury home: $8.6 million


Number 10; In Shanghai, China's most expensive city, a luxury property priced at $1 million would be about the size of a small one-bedroom apartment in the U.S. High down payment costs and other factors have kept the current housing bubble in China from bursting, and relaxed policies on second and third home sales have kept the Shanghai real estate market stable, according to Forbes. Chinese news site Shanghai Daily reported in June that Shanghai new home prices have continued to rise, especially in the luxury sector.

 


$1 million buys 497 square feet of luxury property

Cost of a 1,500-square-foot luxury flat: $3 million

Cost of a 2,500-square-foot luxury home: $5 million

Cost of a large 4,000-square-foot luxury home: $8 million


So how does this compare to The Bahamas? On Paradise Island, The Bahamas most Luxury Real Estate Market, 1$ million buys 2,000 square feet of luxury property. That is 12 times the amount of square feet that you would get in Monaco for the same price! What about the $24.8 Million dollars that buys you 4,000 square feet in Monaco, well for $21 Million you could own a 12 bedroom, 12 bath, 24,000 square foot home with 175 feet of dockage at the rear of the property. 

 


For those who aren't quiet in the $21 Million dollar range, Nassau has many new luxury developments which offer homeowners world class amenities such as tennis courts, 24 hour security and beach access for a very affordable entry level of $400,000. To view these properties and more visit www.repropertiesbahamas.com 


Information source: MSN News