What $1Million Buys Around the World

15 January 2015

 

Seriously, what kind of house do you think $1 Million can buy? I’m sure you have your own musings on what a $1 Million USD house would look like, right? Sure, it will have a sprawling lawn, an amazing 3 to 4-bedroom structure with a bathroom and toilet each room, a guest room, a huge, modern kitchen a foyer and a garage that can house 2 cars. Well, you might be amazed what $1 Million USD can buy around the world. It’s no secret that housing has gone haywire in the US, but New York is taking over Hong Kong as the most expensive retail location in the world. Likewise, the affordability of a million dollar house that equates to a luxury lifestyle remains strong as world drifts point to more money being funnelled to real estate. 

 

New Buying Projections in the US

New Buying Projections in the US

Photo: Ines Hegedus-Garcia

The last quarter of 2014, did you know that the 1 million dollar home buying is speaking volumes in North America? Depending on the location, the price tag of $1M USD can be considered a luxury home in the average American standard. There is an increased number of millionaires added to the million dollar stakeholders per Forbes report. The rank worksheet had presented before the year ended. You may say that the ordinary notion of a millionaire is one who has amassed millions in fortune. The world over, millionaires are known to have been self-made, have their businesses, own houses and facilities, collect cars that appreciate in value. Most of all, they choose to live a frugal life. Based on a lifestyle and the volatility of the housing market, a million dollar home might not value much per today's assessment standards. It can probably compare to the front lawn of Bill Gates; a garage to Ingvar Kamprad of Sweden or a day stay in a luxury hotel for the King of Dubai.

 

A Country House in Spain

A Country House in Spain

Photo: Lucas Fox Barcelona - Ibiza

What do you think a million-dollar house looks like in Spain? Spain lifestyle revolves around work and mobility that take off later in the day. The shops and businesses open late and extend in the late hours of the evening. People like nightlife and are into a lot of festivals, mostly in line with the Catholic religion. They don't stay much in the city during the summer and the holidays. They prefer to stay in the outskirts, to connect to family relatives. Soon after, they go back to the city for work. As far as taxes are concerned, you will be relieved that Spain follows a socialized property tax scheme. For a million US dollars, you can buy a  country house in Pinoso, Alicante Spain. It has a 300 m2 size, six bedrooms, two bathrooms, two kitchens, with covered balcony, roofed terrace, a covered porch sprawled in 300.00sq, meters floor size. It totals to 5,000 sq meters lot in an inland location.

 

A Two-Bedroom Flat in United Kingdom

A Two-Bedroom Flat in United Kingdom

Photo: Carol Green

Yes, despite the discrepancy in the euro and dollar currency exchange, a million US dollar you can afford to buy a dwelling property in England. The average earner in England goes for housing accommodations known as flats. Most expatriates choose this lifestyle of housing for their affordability. Taxes considered; most will think twice settling with a solo house ownership in the UK. One million dollars will buy you A Bed/Bath-2 bedrooms and a bathroom- apartment (flat) situated on the second floor. The neighborhood boasts of restaurants and shops within walking distance in this downtown London area. The flat belongs to the Belsize Village. It follows a Victorian style of architecture.

 

The Studio Apartment in New York

The Studio Apartment in New York

Photo: NYC: Time Warner Center

You might be thinking a nice warm country house in Texas, or a mansion in Miami. Sure, a 1-million dollar home in the US is a luxury home. Especially in New York where real he high-rise real estate or studio apartments in rallies side by side with London in the race for the most expensive global retailer spot to overtake Hong Kong in the latest economic reader. Yes, one million dollars might be a tight budget for a place called home in the Big Apple. Still, the amount can buy you a place to live in. As you race the city's daily busy and enjoy the city's tourists luxury, you will be relieved that for a million dollars (or less) you can buy yourself this. From the Upper East Side, Upper West Side, and a Murray Hill listing, you have a choice of a bedroom studio with elevator access to the different floors. Keys are provided to access a park across the property. New York City real estate taxes are quite a sum. 

 

A Waterfall Villa in Fiji

A Waterfall Villa in Fiji

Photo: Tivoli e Villa Est 2007

But the lifestyle you want to spend while in the city should compensate for the price you will pay in taxes that follows property ownership. A Villa Beach Front Property in the Fiji Islands known for its waterfall villa in Vanua Levu Fiji Islands has three bedrooms, two baths, a garage separate from the house, and a two parking space. Covered area totals to 2375 square feet and a living area of 1710 square feet. As hurricanes are common in Fiji, a ceiling made to stand the hurricane winds is in place. The ceiling is of a Dakota Salusalu material. Basalt rock works compliment a spiral staircase that leads to a pool overlooking the beach.

 

A million dollars may not command big in luxury house buying, but yes, this can give you a comfortable home in other parts of the world.

 

 

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