The median price per square foot in Manhattan, NY is $1,500, according to My Dolce Casa.
Alexander Spatari | Moment | Getty Images
Manhattan, New York is infamous for being expensive. The city consistently ranks as one of the world’s most costly places to live in.
Purchasing a 500-square-foot condo in New York City can cost you about $750,000, according to research blog, My Dolce Casa, which based its study off Realtor data showing that the median price per square foot in the city was $1,500.
You can effectively trade your small studio apartment in the city for a mansion that sprawls over 7,000 square feet in Sicily, Italy, or opt for other properties in the Mediterranean, about 10 times the studio’s size.
Here’s what you’ll get across 10 popular Mediterranean destinations for the price of a 500-square-foot apartment in New York City, according to an August report by My Dolce Casa:
For the price of a 500 square foot apartment in NYC, you can get a property over 7,000 square feet in Sicily, Italy, according to My Dolce Casa.
© Marco Bottigelli | Moment | Getty Images
Sicily, Italy
Size of property: 7,212 sq. ft
Famous for its rich history, beautiful beaches and charming hilltop towns, Sicily, Italy is a popular tourist destination, seeing over 6 million visitors a year, according to a July report by Worldmetrics.org.
Despite its popularity, you’ll get a big bang for your buck purchasing real estate on the Italian island. Sambuca di Sicilia, a commune in Sicily, went viral in recent years when it auctioned off homes with starting bids at one euro.
For the price of a 500 square foot apartment in NYC, you can get a property over 4,000 square feet in Loire Valley, France, according to My Dolce Casa.
Manfred Gottschalk | Stone | Getty Images
Loire Valley, France
Size of property: 4,013 sq. ft
Known for its beautiful landscape, historic towns and world-class wines, where the average price per square foot is $187, you can trade in your NYC studio apartment for a home that’s eight times bigger in Loire Valley, according to My Dolce Casa.
For the price of a 500 square foot apartment in NYC, you can get a property over 3,000 square feet in Porto, Portugal according to My Dolce Casa.
Bondart | Istock | Getty Images
Norte (Porto), Portugal
Size of property: 3,289 sq. ft
Porto, is the second biggest city in the country and is known for its rich history, architecture, and fortified wine. Here you can buy a property over six times the size of a 500-square-foot NYC apartment. Portugal has become a hot spot for retirees, as a safe and sunny, yet affordable destination to settle down in.
For the price of a 500 square foot apartment in NYC, you can get a property over 3,000 square feet in Tuscany, Italy, according to My Dolce Casa.
Shaun Egan | The Image Bank | Getty Images
Tuscany, Italy
Size of property: 3,165 sq. ft
Tuscany, Italy is a popular destination among tourists and saw a more than 44 million overnight stays in tourist accommodation establishments in 2022, according to Statista.
Home to the Leaning Tower of Pisa and Michelangelo’s “David” statue, you can buy a property that’s six times the size of an NYC apartment here.
For the price of a 500 square foot apartment in NYC, you can get a property over 3,000 square feet on Crete Island, Greece, according to My Dolce Casa.
Roberto Moiola / Sysaworld | Moment | Getty Images
Crete Island, Greece
Size of property: 3,488 sq. ft
On the largest Greek island, real estate costs an average of $215 per square foot, according to My Dolce Casa. You can swap your NYC condo to enjoy island-life in a home more than 3,400 sq. ft in size on Crete Island.
For the price of a 500 square foot apartment in NYC, you can get a property over 3,000 square feet in Catalonia, Spain according to My Dolce Casa.
Alexander Spatari | Moment | Getty Images
Catalonia (Barcelona), Spain
Size of property: 3,061 sq. ft
Catalonia, spanning hundreds of miles on the Mediterranean coast, and home to Barcelona, welcomed more than 18 million international tourists in 2023, according to Statista. Here, you can expect to get a house as large as 3,000 square feet, according to the report.
For the price of a 500 square foot apartment in NYC, you can get a property over 2,800 square feet in the Canary Islands, Spain, according to My Dolce Casa.
Andrea Comi | Moment | Getty Images
Canary Islands, Spain
Size of property: 2,830
The Canary Islands, a Spanish archipelago located off the coast of Morocco, is also a popular tourist destination. In 2023, it saw about 14 million international visitors, according to Statista. Here you can swap your NYC studio to enjoy good weather throughout the year in a 2,800 square foot home overlooking the Atlantic Ocean.
For the price of a 500 square foot apartment in NYC, you can get a property almost 3,000 square feet in the Italian Riveria, according to My Dolce Casa.
Fokkebok | Istock | Getty Images
Liguria (Italian Riviera), Italy
Size of property: 2,930 sq. ft
Liguria, famously known as the Italian Riviera, is home to some of Italy’s most picturesque destinations like Cinque Terre and Portofino. Known for its good food and breathtaking views, here, you can get a property that is almost six times the size of an NYC condo.
For the price of a 500 square foot apartment in NYC, you can get a property over 2,000 square feet in Provence, France, according to My Dolce Casa.
Fraser Hall | The Image Bank | Getty Images
Provence-Alpes-Côte d’Azur
Size of property: 2,100 sq. ft
The Provence region sits on the coastline of the Mediterranean in southeastern France, and is home to Marsille, a popular port-city that saw over 16 million tourist overnight stays in 2023, according to recent data. The world-famous French Rivera is also located in the Provence region, housing the popular city of Cannes and coastal town of St. Tropez.
For the price of a condo in New York City, you can get a four-times larger property in Provence.
For the price of a 500 square foot apartment in NYC, you can get a property over 2,000 square feet in Madrid, Spain, according to My Dolce Casa.
Alexander Spatari | Moment | Getty Images
Madrid, Spain
Size of property: 2,131 sq. ft
Madrid, the capital city of Spain, saw 10.6 million visitors in 2023, according to the Madrid Convention Bureau. The city is known as Spain’s financial center, houses beautiful parks and has a bustling art scene.
Known as one of the best destinations for expats, you can trade your NYC apartment for a property more than 2,000 square feet in size here.
Want to make extra money outside of your day job? Sign up for CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories.
Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life.
