Five luxury homes you can buy for $1m

A million dollars may not get you a luxurious residential property in the heart of London, New York, or even Dubai.

Prime property prices have been growing steadily across the world, and on average, increased by 8.4 per cent and 7.3 per cent in North America and Australia respectively in the year to March 2015, according to a recent report by consultancy Knight Frank.

Its Prime Global Cities Index, which tracks the performance of luxury residential prices, has climbed 47 per cent since its financial crisis low in the second quarter of 2009.

However, $1 million still holds a lot of value in several emerging property markets, and can buy you a home complete with private pools, breathtaking views and beachfront living in some parts of the world such as Jeddah, Saudi Arabia, according to property website Lamudi.

Residential property prices in Jeddah, specifically for villas, grew only 2.5 per cent in Q1, compared to the same period last year, a recent report by consultancy JLL found.

Prices are further forecast to see a slowdown in growth over the next six months as prices near their peak, the report added.

Here are five homes across the world that come with a price tag of about $1 million or less, as listed by Lamudi.

1. Villa with mountain views in Marrakesh, Morocco

Price: 9,000,000 Moroccan dirham ($923,370)

Facing the Atlas Mountains, this single-storey villa was inspired by traditional Berber design and architecture. Built on a 2,244 sqm block, the landscaped villa features a reception room with fireplace, three suites with bathrooms, an equipped kitchen and a terrace overlooking the garden and swimming pool. The property is part of the Domaine Royal Palm estate, which includes a restaurant, clubhouse and fitness center.

2. Waterfront apartment in Jeddah, Saudi Arabia

Price: SAR3.5 million ($933,245)

Measuring 198 sqm, this brand new apartment is located in Bay La Sun within the King Abdullah Economic City megaproject. The unit has three bedrooms, four bathrooms, an equipped kitchen, staff quarters and sea views. Residents have access to a swimming pool, gym, children’s play area and several F&B options.

3. Penthouse in Metro Manila, the Philippines

Price: 44,000,000 Philippine Pesos ($984,350)

This 290 sqm condominium is located in the ultra-luxury Essensa East Forbes development in Metro Manila and offers views over the surrounding Makati district. The semi-furnished lower penthouse unit offers three bedrooms, four bathrooms and features wooden floorboards, granite kitchen benchtops and high-end finishes.

4. House with gardens in Nairobi, Kenya

Price: 98,000,000 Kenyan shillings ($1.02 million)

Located in the suburb of Runda, this Scandinavian-style house features a spacious kitchen and breakfast area, a living room with garden views, a master bedroom, a family room, an office, staff quarters and wooden finishing.

5. Villa by the beach in Bali, Indonesia

Price: 13,750,000,000 Indonesian Rupiah ($1.04 million)

This four-bedroom luxury residence is located in Brawa, within walking distance of the beach and a short drive from Seminyak’s shopping and dining district. The property features open living areas, a modern kitchen with appliances, two upstairs master suites with walk-in wardrobes and seating areas, two guest bedrooms and a covered outdoor lounge area overlooking the pool and gardens.