This Toronto penthouse property costs just under that price tag and makes a rather large first impression.
With three bedrooms, a den, four bathrooms and an impressive view, this condo costs $2,300 per square foot.
Michael McLachlan, with Re/Max Ultimate Realty, says it's a good value.
The average price per square foot in the city, however, is about $500.
So just who is buying units like this?
“[Often] we're seeing buyers from India, China, the Middle East and Europe seeing Toronto as great destination,” said Gurinder Sandhu. executive vice president for Ontario-Atlantic Canada Re/Max.
“They see it as a great investment. Equally important, they see Toronto as a great city to live in.”
Maintenance for the unit is around $5,500 per month.- For more on the story from CBC's Nil Koksal watch the video above.