According to My Dolce Casa, the average price per square foot in Manhattan, New York is $1,500.
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Manhattan, New York is notoriously expensive. The city is consistently ranked as one of the most expensive places to live in the world.
It would cost about $750,000 to buy a 500-square-foot apartment in New York City, according to research blog My Dolce Casa. The study was based on real estate agent data showing the average price per square foot in New York City is $1,500.
In effect, you could trade in your tiny studio apartment in the city for a 7,000+ square foot mansion in Sicily, Italy, or choose another Mediterranean property that is roughly 10 times the size of the studio apartment.
According to an August report from My Dolce Casa, for the price of a 500-square-foot apartment in New York City, here’s what you can get for a trip to 10 popular Mediterranean destinations.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 7,000 square feet in Sicily, Italy.
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Sicily, Italy
Lot size: 7,212 square feet
Known for its rich history, beautiful beaches and charming hilltop towns, the Italian island of Sicily is a popular tourist destination attracting more than six million visitors annually, according to a July report from Worldmetrics.org.
Buying property on the Italian island can be a big profit despite its popularity. Sambuca di Sicilia in Sicily made headlines in recent years when it auctioned off homes with bidding starting from 1 euro.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 4,000 square feet in France’s Loire Valley.
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France, Loire Valley
Lot size: 4,013 square feet
According to My Dolce Casa, in the Loire Valley, known for its beautiful landscapes, historic towns, and world-class wines, the average price per square foot is $187, meaning you could trade in a New York studio apartment for a home eight times larger.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 3,000 square feet in Porto, Portugal.
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Norte (Porto), Portugal
Lot size: 3,289 square feet
Porto is Portugal’s second-largest city, known for its rich history, architecture and fortified wines. Here you can buy a property that’s more than six times the size of a 500-square-foot apartment in New York. Portugal is becoming increasingly popular among retirees as a safe, sunny and affordable place to live.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 3,000 square feet in Tuscany, Italy.
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Tuscany, Italy
Lot size: 3,165 square feet
The Italian region of Tuscany is a popular tourist destination, with over 44 million overnight stays in tourist accommodation in 2022, according to Statista.
Home to the Leaning Tower of Pisa and Michelangelo’s “David,” you can buy a property six times the size of a New York City apartment.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 3,000 square feet in Crete, Greece.
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Crete, Greece
Lot size: 3,488 square feet
According to My Dolce Casa, real estate prices on Greece’s largest island average $215 per square foot. You could even trade your New York condo for Crete and enjoy island living in a home that’s over 3,400 square feet.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 3,000 square feet in Catalonia, Spain.
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Catalonia (Barcelona), Spain
Lot size: 3,061 square feet
Catalonia, which stretches for hundreds of miles along the Mediterranean coast and is home to Barcelona, is expected to welcome more than 18 million international tourists in 2023, according to Statista. Homes as large as 3,000 square feet are expected to be affordable here, according to the report.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 2,800 square feet in Spain’s Canary Islands.
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Canary Islands, Spain
Site area: 2,830
The Canary Islands, a Spanish archipelago off the coast of Morocco, is also a popular tourist destination, with international visitors reaching about 14 million in 2023, according to Statista. Here, you can escape your New York studio and enjoy the year-round good weather in a 2,800-square-foot home overlooking the Atlantic Ocean.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get almost 3,000 square feet on the Italian Riviera.
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Liguria (Italian Riviera), Italy
Lot size: 2,930 square feet
Famously known as the Italian Riviera, Liguria is home to some of Italy’s most picturesque destinations, including Cinque Terre and Portofino. Known for its delicious cuisine and breathtaking views, you can get a property here that’s almost six times the size of a New York City condo.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 2,000 square feet in Provence, France.
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Provence-Alpes-Côte d’Azur
Lot size: 2,100 square feet
The Provence region is located on the Mediterranean coast of southeastern France and is home to the popular port city of Marseille, which, according to recent data, welcomed more than 16 million tourist overnight stays in 2023. The world-famous French Riviera is also located in Provence, and is home to the popular city of Cannes and the coastal town of Saint-Tropez.
For the price of an apartment in New York City, you can get a property four times that size in Provence.
According to My Dolce Casa, for the price of a 500-square-foot apartment in New York, you can get a property that’s over 2,000 square feet in Madrid, Spain.
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Madrid, Spain
Lot size: 2,131 square feet
According to the Madrid Convention Bureau, the Spanish capital is expected to attract 10.6 million tourists in 2023. The city is known as the financial center of Spain, has beautiful parks and a vibrant arts scene.
Known as one of the top destinations for expatriates, the city allows you to trade in your New York apartment for properties over 2,000 square feet in size.
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