This is how big your $1 million home would be in top cities

Mar 1, 2023

By: Rounak Jain

Mumbai 18th most expensive residential market in the world

In US dollar terms, India’s financial capital is the 18th most expensive residential market in the world.

Credit: Canva

A million dollars for 113 sq mtrs in Mumbai

A million dollars (approx. ₹8.25 crore) will only get you a well-spaced double bedroom, house, kitchen (2BHK) flat (approx. 1,216 sq ft) in Mumbai’s prime residential areas.

Credit: Canva

Million dollars go twice as far in Delhi

In India’s capital, a million dollars will fetch twice as much space as Mumbai at 226 square metres (approx. 2,435 sq ft)– which should be adequate for a well-spaced 3BHK, at the very least.

Credit: Canva

Bengaluru will fetch you 3x the space

A million dollars in Bengaluru will fetch you 385 square metres (approx. 4,144 sq ft) of space in the prime parts of the city, according to the report. So one can think of a duplex or even better – an individual home or a luxurious villa.

Credit: Canva

Mumbai 37th best market in terms of price appreciation

Home owners in Mumbai have seen their property value appreciate 6.4 percent in 2022, making it the 37th best market in the world.

Credit: Canva

Bengaluru and Delhi see much slower appreciation

Owners in Bengaluru and Delhi saw their property values appreciate by a meagre 3 percent and 1.2 percent respectively in 2022.

Credit: Canva

Dubai the best performer in the world

Property prices in Dubai appreciated by a whopping 44.2 percent in 2022, far outpacing the inflation of 5.2 percent during the year.

Credit: Canva

2022 the second-best year for property appreciation

With a 5.2 percent appreciation in the value of properties in prime areas, 2022 was the second-best year since the 2008 global financial crisis.

Credit: Canva

The hunt for safe havens

The world’s rich drove the appreciation of prime properties in 2022 in their hunt for safe havens for their capital.

Credit: Canva

Removal of commission caps for insurance agents likely to boost innovation, customer-centricity