27 Mar 2021
The Wealth Report 2020: Insight 6 of 6
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
Prime Property is defined as the top 5% of the most desirable and most expensive property in a given location.
According to The Wealth Report, London globally has the highest number of prime properties at 68,189 followed by Dubai at 42,356 and Sydney in third place with 27,436 residential prime properties.
The Prime Property threshold for London is £2m (AU$3.6m) plus while it is Dh3.6m (AU$1.29m) plus for Dubai and AU$3m plus for Sydney.
Interestingly however, London comes in third when you consider the number of square metres of Prime Property that you get for US$1m (AU$1.31m).
Sydney comes in 9th with US$1m (AU$1.31m) only buying you 45 square metres of Prime Property while Melbourne offers much better value at almost double the square metres for the same price.
Click for chart.
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