What $1M can get you in the world’s priciest real estate markets?

With a $1 million budget, buyers can acquire 22 square meters of luxury housing in Hong Kong, whereas the same amount provides 32 square meters in Singapore, according to a recent study.

, released earlier this month by data researcher Knight Frank.

In Hong Kong, $1 million fetched just 23 square meters of typical luxury housing in 2014, underscoring persistently high prices.

Globally, Hong Kong trailed only Monaco, where $1 million bought 19 square meters last year.

Singapore came third in costliness at 32 square meters. A decade ago, the same budget yielded 41 square meters, indicating a price jump of 22%.

Mumbai emerged as the least expensive market on the list, offering 99 square meters for $1 million. The Indian financial hub’s buying power has held steady over the past decade, making it a standout bargain in the luxury segment.

London’s property appeal appears to have waned. Last year, $1 million bought 34 square meters, compared 23 square meters in 2014, suggesting a softening market.

Dubai, however, offers the greatest profit potential. A $1 million budget secured 78 square meters last year, down from 188 square meters a decade ago. This implies a 59% rise in luxury accommodation prices.

Knight Frank also listed Dubai – the most populous city of the United Arab Emirates – as the best market in the world for five-year growth potential in luxury property.

It was followed by Palm Beach, Manila, Miami and Aspen.