The United States has seen its ups and downs when it comes to real estate. In fact, analysts are still unsure of when we’ll hit the true bottom of the market. According to the Commerce Department the median sales price has recently dropped 7.7% over the course of one short year. While we may feel discouraged by real estate prices dropping so drastically, many Americans don’t realize that the global market is experiencing similar trends.

Americans understand the meaning of overpriced real estate. Manhattan’s real estate is averaged at $1,068 per square foot, a price that many Americans wouldn’t dream of affording. Compared to the rest of the world, however, American real estate is actually relatively cheap.

Here is a breakdown of some real estate from around the world. The price per square foot has all been converted to U.S. Dollars, to help with comparing. We will start with some of the cheapest real estate in the world:

Houston, Texas – $54 per square foot
Phoenix, Arizona – $79 per square foot
Atlanta, Georgia – $132 per square foot
Santiago, Chile – $160 per square foot
Miami. Florida – $182 per square foot
Denver, Colorado – $183 per square foot
Al Kut, Iraq – $262 per square foot
Dubai, United Arab Emirates – $264 per square foot
Tallinn. Estonia – $384 per square foot
Bratslava, Slovak Republic – $398 per square foot
Auckland, New Zealand – $450 per square foot
San Francisco, California – $520 per square foot
Reykjavik, Iceland – $543 per square foot
Buenos Aires, Argentina – $557 per square foot
Cairo, Egypt – $574 per square foot
Honolulu, Hawaii – $614 per square foot
Mumbai, India – $664 per square foot
Tehran, Iran – $834 per square foot
Lisbon, Portugal – $890 per square foot
Athens, Greece – $890 per square foot
Warsaw, Poland – $895 per square foot
Capetown, South Africa – $1,067 per square foot
New York, New York – $1,068 per square foot
Hong Kong – $1,118 per square foot
Copenhagen, Denmark – $1,317 per square foot
Helsinki, Finland – $1,366 per square foot
Madrid, Spain – $1,395 per square foot
Beirut, Lebanon – $1,448 per square foot
Stockholm, Sweden – $1,516 per square foot
Singapore – $1,561 per square foot
Luxembourg, Luxembourg – $1,563 per square foot
London, U.K. – $1,590 per square foot
Oslo, Norway – $2,099 per square foot
Paris, France – $3,287 per square foot

For more information on real estate prices, market news and Berkeley real estate agents, contact us at PorchLight.com.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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