As housing prices in the United States continue to soar, many Americans are setting their sights on Europe, where they can find far more spacious homes for the cost of a modest Manhattan apartment. A recent study by My Dolce Casa, a research blog focused on living and retiring abroad, offers a fascinating comparison of how much space $750,000 can buy in Europe versus in Manhattan. This comparison spans 68 regions across five European countries: Italy, Spain, Greece, Portugal, and France.
Italy’s Affordable Real Estate: Top Regions for Spacious Homes
Italy is the country where $750,000 can buy the most space. Leading the list is Molise, a mountainous region that gained recognition on The New York Times’s 2020 list of 52 places to visit. In Molise, $750,000 buys a staggering 8,333 square feet of home, equating to just $90 per square foot. Calabria, located in southern Italy, follows closely behind, offering 8,242 square feet for about $91 per square foot. To put this into perspective, these homes would cost approximately $12 million if priced according to Manhattan’s real estate market.
Spain: A Close Contender with Regions Rich in Space and Culture
While Italy dominates the top spots, Spain presents compelling options for American buyers. Castilla-La Mancha, located south of Madrid and famously associated with Cervantes’s Don Quixote, offers 7,813 square feet of home space for $96 per square foot. Extremadura, located on Spain’s border with Portugal, ranks fourth, providing 7,426 square feet at $101 per square foot. The Italian island of Sicily rounds out the top five, with 7,212 square feet available for $104 per square foot.
Other European Destinations Offering Value
For those not interested in Italy or Spain, Greece offers attractive alternatives. In Thessaly, $750,000 can purchase a 5,859-square-foot home at $128 per square foot. However, in Lisbon, Portugal, where real estate prices have been rising due to growing popularity, the same amount only buys 1,974 square feet or $380 per square foot.
While France does not crack the top 20, it still offers regions where buyers can find more space than in Manhattan. Burgundy, for example, comes in at 22nd place, offering 4,880 square feet for $154 per square foot—still a considerable value compared to New York City.
Finding Space and Value Abroad
For American buyers looking to maximize their real estate investment, Europe presents an array of opportunities to purchase spacious homes at a fraction of Manhattan prices. Whether it’s the vast properties in Italy or the culturally rich regions of Spain, these European destinations offer an appealing mix of space, value, and lifestyle.
As more Americans explore these opportunities, they may find that their dream of owning a spacious, affordable home is possible and within reach across the Atlantic.
