Revealed: how big a home $1 million can buy

123RF

Dubai is the place to be if you are looking for high-end properties that are quite spacious.

According to real estate consultancy Knight Frank's Prime International Residential Index, US $1 million (AED 3.67 million) can fetch you a 143 square metre home in the emirate.

That’s nearly five times more than what you are likely to get in New York (31 square metres), London (31 square metres) or Singapore (36 square metres).

Monaco continues to be the most expensive city, with $1 million buying just 16 square metres of accommodation.

The report also found that luxury residential prices in Dubai dropped by 3.4 per cent last year, while Manila was the best performer with prices rising by more than 11 per cent.

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 11:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • Lunch with Lloyd

    11:00am - 2:00pm

    No one knows entertainment better than veteran Dubai broadcaster Mark Lloyd.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!