In Capetown, South Africa, $1 million goes a pretty long way. A million-dollar home sounds like a major luxury. But $1 million buys something vastly different in cities around the world. In New York City, for example, where the median home sale price is $1.2 million, a million bucks buys a decent one-bedroom apartment. In Buenos Aires, on the other hand, it buys a four-bedroom pad in a fancy neighborhood.