When it comes to the real estate market in Manhattan, New York, prices can seem astronomical to many. With a median price per square foot of $1,500, buying a property in the city can be a daunting task for most people. However, a recent report by My Dolce Casa sheds light on just how far your money can go in other popular destinations, particularly in the Mediterranean.
Sicily, Italy, known for its rich history and beautiful beaches, offers a stark contrast to the hustle and bustle of Manhattan. With the opportunity to purchase a property over 7,000 square feet for the price of a 500-square-foot apartment in NYC, Sicily presents an alluring alternative for those looking to invest in real estate.
The Loire Valley in France, famous for its world-class wines and historic towns, boasts an average price per square foot of $187. For the cost of a small studio apartment in NYC, you could own a home that is eight times larger in this picturesque region of France.
With its rich history, architecture, and fortified wine, Porto, Portugal, offers a compelling option for those seeking a more affordable yet sunny destination. Buying a property over 3,000 square feet in Porto, for the price of a 500-square-foot apartment in NYC, provides an enticing prospect for retirees looking to settle down.
Tuscany, Italy, a popular destination among tourists, offers a unique blend of art, culture, and history. With the opportunity to own a property six times the size of an NYC apartment, Tuscany beckons those looking to immerse themselves in the Italian way of life.
The largest Greek island, Crete, offers a serene environment with an average real estate cost of $215 per square foot. Swapping your NYC condo for a spacious home overlooking the Atlantic Ocean on Crete Island provides a tranquil escape from the fast-paced city life.
Catalonia, home to Barcelona and stretching along the Mediterranean coast, offers a diverse range of experiences for residents and tourists alike. With the opportunity to own a house as large as 3,000 square feet for the price of a small NYC apartment, Catalonia presents a compelling choice for those looking to relocate.
Located off the coast of Morocco, the Canary Islands offer a warm climate and stunning views of the Atlantic Ocean. With approximately 14 million international visitors in 2023, the Canary Islands provide an attractive alternative for those looking to escape the urban jungle of Manhattan.
Italian Riviera: A Slice of Paradise
Liguria, famously known as the Italian Riviera, boasts some of Italy’s most picturesque destinations. With the opportunity to own a property almost six times the size of an NYC condo, Liguria offers a harmonious blend of good food, breathtaking views, and a relaxed lifestyle.
Provence, situated on the Mediterranean coastline, is renowned for its charming towns and world-famous French Riviera. With Marsille and Cannes as popular destinations within the region, owning a property over 2,000 square feet for the price of a 500-square-foot apartment in NYC is an attractive proposition for many.
Madrid, Spain: A Blend of Culture and Art
As the capital city of Spain, Madrid holds a special allure for expats and tourists alike with its bustling art scene and beautiful parks. Offering properties over 2,000 square feet in size for the price of a small NYC apartment, Madrid presents a unique opportunity for those looking to live in a vibrant and dynamic city.
While Manhattan, New York, may be notorious for its sky-high real estate prices, exploring alternative destinations in the Mediterranean reveals a world of possibilities for those looking to invest in property. Whether it’s the historic charm of Sicily, the vibrant culture of Barcelona, or the laid-back lifestyle of the Canary Islands, there are plenty of options to consider beyond the confines of the Big Apple.