One-bedroom house in Queenstown: $1 million

The house, on Park Street, sits on a 600 square metre section. Photo: RNZ / Peter Newport

It was built to satisfy planning rules that require dwellings on land which is being subdivided. Photo: RNZ / Peter Newport

The house has amazing lakeside views and is fully insulated with double glazing for winter. Photo: RNZ / Peter Newport

Owner Allan Mitchell says he once threw a party for 20 people inside the house - which would work out to about 1.5 square metres per guest. Photo: RNZ / Peter Newport

The house is more expensive per square metre than average properties in central New York or Paris, according to the Global Property Guide. Photo: RNZ / Peter Newport