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The Real Deal Miami

U.S. real estate cheap in comparison with other countries

October 12, 2011 12:58PM


Source: Credit Sesame 

Economists may still be calling U.S. real estate overpriced, but property in the nation’s biggest cities is still relatively affordable compared with the rest of the world, a chart compiled by credit management system Credit Sesame shows (see chart above). At an average of $1,068 per square foot, Manhattan homes seems cheap compared to Paris, which costs an average of $3,287 per square foot for a residence, according to Credit Sesame’s data. Also more expensive than Manhattan are cities such as Oslo, Luxembourg, London, Hong Kong and Beirut. Living in Houston, Texas is much more affordable than living in Al Kut, Iraq, $54 per square foot compared to $262 per square foot respectively. Miami comes in at $182 per square foot. — Katherine Clarke