Manhattan, New York has long been known for its exorbitant cost of living, with the median price per square foot reaching a whopping $1,500. Purchasing a modest 500-square-foot condo in the city can set you back a staggering $750,000, according to research by My Dolce Casa. However, there are alternatives that allow you to trade your small studio apartment for a sprawling mansion in the picturesque Mediterranean.
One of the options available for the price of a 500-square-foot apartment in NYC is a property over 7,000 square feet in Sicily, Italy. Sicily is renowned for its rich history, stunning beaches, and charming hilltop towns. This popular tourist destination attracts over 6 million visitors annually and offers a great value for real estate investment, making it an attractive option for those looking to escape the high prices of Manhattan.
There are several other popular Mediterranean destinations where you can find ample property for the price of a tiny apartment in NYC. From Loire Valley, France, where you can get a property over 4,000 square feet to Porto, Portugal, where a property over 3,000 square feet can be yours, the options are diverse and enticing. Tuscany, Italy offers a property over 3,000 square feet and Crete Island, Greece provides a home over 3,400 square feet, all for the price of a small apartment in NYC.
Catalonia, Spain welcomes you with a property of 3,000 square feet, while the Canary Islands offer a home with almost 3,000 square feet overlooking the Atlantic Ocean. The Italian Riviera, also known as Liguria, boasts properties of almost 3,000 square feet, and Provence, France provides a property over 2,000 square feet for the price of a 500-square-foot apartment in NYC. Madrid, the capital city of Spain, offers a property of over 2,000 square feet, making it an attractive option for those looking for more space and a change of scenery.
Escaping the high cost of living in Manhattan is possible by looking towards the Mediterranean for affordable and spacious property options. With a wide range of destinations to choose from, each offering unique attractions and amenities, trading your NYC apartment for a mansion in the Mediterranean is a viable choice for those looking for a change of pace and a more spacious living environment.