Location, lifestyle, and provenance, especially in the luxury residential real estate market, are the hallmarks of value for affluent homebuyers. Once upon a time, “a million,” (whether US dollar, euro, or pound sterling) was considered the entry point for a luxury home.
These days, it can be at least five times as much to buy into prime and resort-destination markets. Buyers can get more for their million in smaller markets, such as the American South and Midwest, South America, Southeast Asia, and Central and Eastern Europe.
Indeed, there are surprising values available out there: Consider a pied-à-terre in the world’s tallest building, the Burj Khalifa in Dubai, or a canal-front apartment in Venice; or escape to a tropical villa on the paradisal Thai island of Phuket or the Gilded Age splendor of a 19th-century manor in Estonia.
Read on to discover just what—and where—US$1 million can buy.