The Wealth Report 2016, released Wednesday by real estate firms Knight Frank and Douglas Elliman, looked at what $1 million can buy around the world.
According to the report, Monaco remained the world’s most expensive residential real estate market on a square-meter basis, with $1 million buying only 17 square meters, or 183 square feet. That means for $1 million you can get a 12-by-15-foot room, likely overlooking a water-treatment plant the rather than the marina.
Hong Kong was the second most-expensive market, with $1 million buying 20 square meters, or 215 square feet. London ranked third with 22 square meters, or 236 square feet.