The median price per square foot in Manhattan, NY is $1,500, as reported by My Dolce Casa. Known for its high cost of living, purchasing a 500-square-foot condo in New York City can set you back by approximately $750,000. However, for the same amount, you can acquire significantly larger properties in various Mediterranean destinations.
In Sicily, Italy, a property over 7,000 square feet can be yours for this price, offering rich history and beautiful beaches. Loire Valley, France, known for its landscapes and world-class wines, offers 4,000-square-foot homes. Similarly, Porto, Portugal presents properties over six times the size of a NYC studio at around 3,000 square feet, with the region becoming popular among retirees.
Tuscany, Italy, with its iconic landmarks, and Crete Island, Greece, where real estate averages $215 per square foot, offer properties around 3,000 square feet. In Catalonia, Spain, home to Barcelona, you could get a property spanning 3,061 square feet, while in the Canary Islands, Spain, you can own a 2,830-square-foot home with year-round good weather.
The Italian Riviera in Liguria provides nearly 3,000 square feet properties. Provence-Alpes-Côte d’Azur in France, known for its Mediterranean coastline, offers properties around 2,100 square feet, and in Madrid, Spain’s capital, a property over 2,000 square feet is attainable.
In essence, trading a small NYC condo can grant you much larger and often more scenic properties across these popular Mediterranean destinations, according to My Dolce Casa’s August report. This trend highlights the significant real estate disparities between Manhattan and other global cities. Sign up for CNBC’s new course on earning passive income and their newsletter for success tips at work and in life.
Original Story https://www.cnbc.com/2024/08/30/you-can-trade-in-your-nyc-condo-for-these-10-mediterranean-properties.html
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