PHOTO: Map of the World

  • In Monaco, the world’s most expensive city on a per-square-foot basis, $1 million gets you 162 square feet of prime real-estate, according to a report from real-estate brokerage firms Douglas Elliman and Knight Frank.
  • Hong Kong ranked as the second-most expensive city, with $1 million buying 226 square feet.
  • London ranked third with 323 square feet, while in New York, $1 million buys 344 square feet.
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When it comes to real estate, $1 million doesn’t go as far as it used to — especially in the world’s top cities.

In Monaco, the world’s most expensive city on a per-square-foot basis, $1 million gets you 162 square feet of prime real estate, according to a report from real estate brokerage firms Douglas Elliman and Knight Frank. Basically, it’s a one-bedroom — with only the bedroom.

Hong Kong ranked as the second-most-expensive city, with $1 million buying 226 square feet. London ranked third with 323 square feet, while in New York City, $1 million buys 344 square feet.

READ MORE VIA CNBC