Given the challenges with comparing prices , I have instead opted to take a look at some well-known areas to see what is available for around $ 1 million , and compare what you would get in Australia . This will allow you to see exactly what you get for your money .
One bedroom apartment in a global city
The Australian dollar is pretty weak at the moment . $ AU1 million will only get you around $ US715,000 , £ 525,000 or € 610,000 . But if you ’ re dreaming of New York , London or Paris , this is enough to buy you a one bedroom , one bathroom apartment close to Central Park , close to the City of London or near the River Seine . This is roughly similar to the median for our most global city , Sydney where the median for an apartment is $ 960,000 . If you want a much cheaper option , you could look at Melbourne CBD where the median for an apartment is $ 460,000 .
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