For the Price of a Tiny N.YC. Apartment, You Could Snag a Sprawling Villa in Calabria, Italy

New York City is consistently one of the most expensive places to live, so it’s no wonder more and more Big Apple residents are packing up their postage-stamp apartments and heading abroad in search of more space for less money. And, if you’re considering pulling a real-life Emily in Paris and escaping to Europe, you might be pleasantly surprised just how much more bang for your buck you can get when it comes to real estate.

A new study from My Dolce Casa, an expat-oriented blog about living and retiring overseas, has done the hard part and calculated what the same amount of money can buy you in the Mediterranean versus Manhattan. The website based its research on Realtor.com’s median listing price for a 500-square-foot apartment in New York City, which was approximately $750,000 or $1,500 per square foot. Using that value as a guide, it then determined what size house you would be able to purchase for a similar cost in countries like Italy, Spain, Portugal, Greece, and France. Let’s just say the results are nothing short of enticing.

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During the pandemic, Americans descended on Italy for a taste of la dolce vita. When it comes to getting the most for your money in Bel Paese, the mountainous region of Molise—due east of Rome on the Adriatic coast—topped the chart in terms of value with an average price per square foot of $90. Here, for example, $750,000 will get you a sprawling 8,333-square-foot villa. Similarly, if you wanted to settle down further south in Calabria, the same amount of money would afford a whopping 8,242 square feet of space, which translates to about $91 per square foot. By comparison, a condo of that size would run you upwards of $12 million in Manhattan, according to The New York Times.

Spain’s Castilla-La Mancha, a vast region in the center of the country, landed in third place. The desert-like area includes the historic city of Toledo and was the setting of the famous Don Quixote novel. It also has the country’s lowest population density, so essentially it’s the complete opposite of New York City. Here, you can expect a home as large as 7,813 square feet, while over in Extremadura, which borders Portugal, you could pick up a 7,426-square-foot country home. For all The White Lotus fans, the Italian island of Sicily notched the fifth spot. With an average price per square foot of $104, you could live big like Quentin (Tom Hollander) in your very own 7,212-square-foot palazzo.

Greece has long drawn tourists during the summer months, but if putting down roots in the so-called cradle of Western civilization appeals to you, for the price of a 500-square-foot studio in Manhattan, you could snap up a 5,859-square-foot abode in Thessaly, one of the most important regions of ancient Greece and known for its impressive mountain ranges and idyllic landscapes. On the other hand, if pink-sand beaches, archaeological sites, and a thriving wine scene float your expat boat, you could stretch out in a scenic 3,488-square-foot villa on Crete, Greece’s largest island.

You can find the full ranking below.

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