Location, lifestyle, and provenance are the hallmarks of value in luxury real estate.

Indeed, those hallmarks can be just as important as price, even when a property’s market value approaches US$5 million.

To be sure, price points vary across different markets around the world: Five million dollars goes much further in smaller, “below-the-radar” markets, while buyers in prime markets and apex resort destinations must expect to spend more for comparable levels of luxury.

In this edition of Luxury Defined, we investigate homes priced in the neighborhood of US$5 million—and what a lovely neighborhood it is: Choose among a glamorous apartment in the heart of Paris, a contemporary ski chalet in Japan’s northernmost prefecture, a Georgian manor in England’s West Country, a shorefront estate in coastal Maine, and a tropical hideaway in the West Indies.

1.19th-Century Apartment in Paris, France

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This grand residence has a most prestigious location in Paris’s 16th arrondissement, a stroll away from the lively Rue de Passy and the leafy Bois de Boulogne.

The home occupies the third floor of an elegant turn-of-the-century building with a southwesterly aspect on the Haussmannian streetscape below.

The entrance hall opens to more than 214 square meters (2,303 square feet) of living space (as conservatively defined by France’s Carrez Law). Each room has been sensitively renovated in keeping with the past. The triple reception room is the standout, with its parquet floors and high ceilings. Farther along is an elegant dining room and an elegant Art Deco-inspired kitchen with a breakfast booth, prep island, and top-of-the-range appliances.

The private quarters comprise three en suite guest rooms and the luxurious primary suite. A studio apartment on the sixth floor of the building is offered separately.

The private quarters comprise three en suite guest rooms and the luxurious primary suite. A studio apartment on the sixth floor of the building is offered separately.

2. Koa Super Villa 1 in Niseko, Japan

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Located in Upper Higashiyama, just a short walk from the ski lifts, Koa Super Villa 1 sets the standard for luxury turnkey homes in Japan’s premier ski resort, Niseko United.

The modern Scandinavian-Japanese inspired exterior of the home has been meticulously designed by Craig Takahata, founder and creative director of ZOO Design Group. Takahata has experience designing for the world’s leading hotels, including Raffles and Shangri-La.

The exterior opens to 3,981 square feet of immaculately presented, fully furnished interiors curated by Tokyo-based interior design firm Bond Design Studio.

Among the bespoke details are deluxe Italian and Japanese furnishings, German kitchen appliances, a Mahjong table by André Fu Living, a Finnish hinoki wood sauna, and in the Japanese tradition, an onsen natural stone bath.

3. Frenchay Park House in Frenchay, Gloucestershire, England

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Frenchay Park House is a fine Georgian country house in the Gloucestershire village of Frenchay, some five miles from the city of Bristol.

This handsome Grade II-listed building was built in the mid-18th-century as a private estate and later served as a hospital in World War II. It was owned by the NHS Trust until a decade ago, when it was purchased and extensively restored by the present owners.

The interiors extend to 20,000 square feet across five floors, presently arranged as four parts: The east wing is set over two floors and includes the magnificent inner hall. The west wing spans three floors and features a vast, garden-view roof terrace. Two apartments (one bedroom and two bedroom) are on the upper floors. The basement includes a wine cellar and commercial-grade boiler rooms.

Throughout the 10-bedroom residence are numerous retained period details, such as stone floors, fireplaces, wood paneling, sash windows, and a grand central staircase.

The 18th-century ha-ha overlooks the parkland that lies to the south. Just beyond are level lawns leading down to a plunge pool and a charming garden house. A five-car garage, a three-bay carport, and two forecourts are further highlights.

4. Felicity Villa in Saint Thomas Lowland, Nevis, Saint Kitts and Nevis

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Aptly named, Felicity Villa is an idyllic oceanfront turnkey home with resort-grade amenities and superb guest accommodations on 1.29 acres on the Caribbean island of Nevis.

The main house’s great room looks out to sea across the wide verandah and infinity-edge pool and spa of Portuguese blue-tile. There is also a games room, pickleball court, pro-grade fitness studio with a relaxing waterfall shower, a massage room—even a hair salon.

An entire wing of the house is devoted to the primary suite, with its walk-in wardrobe, an adjoining study and French windows onto both the verandah and a private balcony. A second en suite bedroom has two queen-size beds, windows on three sides, and a generous bathroom with a tub, a walk-in shower and twin vanities.

A guest apartment beneath the main house has its own full kitchen, laundry, a workspace with almost implausible views, and a bathroom with a huge walk-in shower.

A separate modern cottage in the gardens, currently used as an artist’s studio, has vaulted ceilings over its primary suite and whirlpool tub. An open-plan kitchen serves its sitting and dining space.

5. Glidden Ledge in South Bristol, Maine

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Glidden Ledge is a 13.35-acre waterfront estate overlooking Fitch Cove and the Damariscotta River on Maine’s Pemaquid Peninsula.

The Shingle Style main residence has a comfortable and sophisticated layout, anchored by a great room, with adjoining gourmet kitchen and dining space under a magnificent timbered cathedral ceiling. It’s warmed by a monumental stone fireplace, as is the expansive screened-in porch.

There are four bedrooms in the main house and another two in the guest cottage. The property also includes a three-car garage, a shed, and a dock system with three floats and a mooring.

The grounds have been cultivated over the years and include mature flowering gardens, outdoor recreational spaces and more than a mile of walking paths through the woods and along the shorefront, which extends to 2,716 feet with several coves, a pocket beach, and a small island.

Glidden Ledge is a haven for wildlife, such as bald eagles and seals. There’s excellent bass with fishing just off the ledge. Pemaquid Beach, Waweneck Golf Club, and the towns of Damariscotta and Newcastle are but a short drive away.

Seek a home for $5 million or thereabouts? Start here.

Writer’s bio: Lucy Carsen is a regular contributor to the Luxury Defined blog and has written for luxury lifestyle publications including Worth, Christie’s and Christie’s International Real Estate magazines.