Monaco ($1M) Offers 16 Sq Meters in Luxury Real Estate Market

AI Summary

According to Knight Frank's Wealth Report, $1 million buys 16 square meters (172 square feet) in Monaco, down from 17 square meters (182 square feet) in 2020. In Hong Kong, the same amount offers 22.5 square meters (242 square feet), whereas in New York, it secures 33.9 square meters (365 square feet). Prime real estate prices increased by 3.2% last year, outpacing the 2.9% growth of mainstream global housing prices. The report highlights Miami, Mumbai, and Brisbane as future luxury real estate hotspots for ultra-high-net-worth individuals (UHNW).