Real estate you can buy around the world for the cost of a Toronto home

We have been told time and time again that real estate in Toronto is expensive.

In fact, Toronto remains one of the most expensive Canadian housing markets, with 29% of its homes above the $1 million threshold, according to real estate website Point2Homes. As for the average selling price in Toronto, it’s currently at $809,591 CAD, which is almost twice as expensive as the average Canadian residence.

So perhaps moving somewhere far away is an option for a new, more affordable home. Because the world is vast, there are amazing locations and fascinating cultures to choose from.

Point2Homes listed some of these attractive locations, comparing what can be purchased around the world with the average price of a Toronto home. For example, in countries such as Costa Rica or Mexico, $809,591 CAD will buy you a luxurious estate. But you may be surprised to find out that $809,591 would only get you a 882 sq.ft. apartment in Nice, France.

So here’s what you can get for that amount, which is about $647,348 US, around the world.

Portugal, Algarve, 3 bedrooms, 3 bathrooms

For the average price of a Toronto home, in Portugal you can purchase a 2-storey townhouse located in a private residential area, with access to a wide array of amenities. Taking advantage of its beautiful surroundings and the warm climate, the property also features a generous garden with a swimming pool.

UAE, Dubai, 2 bedrooms, 2 bathrooms

In the middle east, Dubai offers a fully furnished 2-bedroom, 2-bathroom apartment, set less than one mile from the beach. Featuring community amenities such as a private swimming pool and a gym, and boasting plenty of living space and a modern interior design, this property takes the art of fine living to a whole different level.

The US, Los Angeles, 5 bedrooms, 3 bathrooms

Who knew LA is cheaper than Toronto? Situated in a popular location and complete with state-of-the-art finishes, this Los Angeles property offers everything you might need for a family home: 5 bedrooms, an upgraded kitchen, plenty of living space, and a spacious garden that you won’t be able to resist.

Japan, Tokyo, 3 bedrooms, 1 bathroom

Conveniently located just 10 minutes away from Shinagawa station, one of Tokyo’s major transportation hubs, this apartment is the perfect home for a small, city-dwelling family. Set on the 40^th floor of the City Tower Shinagawa, with spectacular views of the city, this spacious 3-bedroom home benefits from all the facilities that the prestigious development has to offer: a nursery, a party room and even concierge services.

Bahamas, Abaco, 3 bedrooms, 2 bathrooms

Set in one of the most desirable communities in Abaco, Bahamas, this is a unique home, which impresses through its open living layout, perfect for entertaining guests and family. To make things even better, the property is within walking distance of all the finest restaurants and shops and the Abaco Beach Resort, making it easy for you to enjoy the vibrant Bahamas lifestyle.

Malta, Mellieha, 3 bedrooms

With its warm climate, stunning views and rich culture, Malta is one of Europe’s most sought-after destinations. You can enjoy the beauty of this country right from the terrace of an exquisite 3-bedroom penthouse, with easy access to all nearby amenities.

Greece, Mykonos, 4 bedrooms, 4 bathrooms

Experience the authentic Greek lifestyle in a stunning property, located one mile from the beach, with endless views of the Aegean horizon. The home combines the best of traditional Mykonian architecture with modern home design, remaining faithful to the rich cultural heritage of the area.

Romania, Bucharest, 4 bedrooms, 4 bathrooms

Situated in a popular residential area, away from the hustle and bustle of the city centre, this luxurious Bucharest property has a very modern design. Among other things, it features an open floor plan, large windows, an inviting living space, and a beautifully manicured garden.

Costa Rica, Puertocito, 4 bedrooms, 4 bathrooms

Enjoy the beauty of nature in a spectacular 3,466 sq.ft. property, with easy access to the surrounding beaches and spectacular views of the jungle wildlife. The property combines privacy with convenience, being located just minutes away from restaurants, shops, galleries and, not to mention, some of the best schools.

Norway, Rælingen, 3 bedrooms

In Norway, $809,591 CAD will buy you a terraced home, located in a quiet residential area, in close proximity to schools, shops and public transportation. The property is a true example of Scandinavian minimalism, characterized by the intelligent use of light and a preference for open interior spaces and calm, muted tones.

Spain, Costa Brava, 4 bedrooms, 3 bathrooms

Spain features a 3,670 sq.ft. villa, located in a quiet residential area, next to the fishermen’s town of St. Feliu de Guixols, and just two miles from the beach. The sun-drenched property, which impresses through its modern, minimalist design, features 3 bedrooms, a fully equipped kitchen, a spacious living room and even a swimming pool.

France, Nice, 882 sq.ft.

This French property might be small, but its location makes up for that. Enjoy having a variety of shops, the best schools and restaurants right at your fingertips, in the very heart of Nice.

All the places we can’t afford in one spot. Isn’t that nice?

See also

• Report: 2 of Canada's most expensive neighbourhoods are in the GTA
• Report: Toronto home sales in September down 35% compared to last year
• Report: Toronto and Vancouver top list of riskiest housing bubble cities in the world