A map that compares Boston prices to the best neighborhoods around the world
Living in Boston’s North End is the closest thing to Italy you can get in the Hub – but would you have guessed the average purchase price of $866 per square foot is actually the same as in Rome’s historic district?
Living in Boston’s North End is the closest thing to Italy you can get in the Hub – but would you have guessed the average purchase price of $866 per square foot is actually the same as in Rome’s historic district?
Or would you have guessed that the Fenway/Kenmore area has a similar $451-per-square-foot purchase price to Salamanca, one of the most expensive neighborhoods in Madrid?
Constantine Valhouli, the cofounder of NeighborhoodX, a neighborhood-specific reporting and data startup currently in pre-launch, created a map for the Greater Boston area comparing prices in local neighborhoods to elite neighborhoods around the world.
“I was struck by how many of the places [where] we live by necessity could get you your neighborhood of choice somewhere else,’’ Valhouli told Boston.com.
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Valhouli wanted to put real estate prices in a global context, using a mix of proprietary research, publicly available data and real estate portals.
“Boston seems more tightly constrained [than other cities],’’ he said. “More [neighborhoods] seemed to be priced to an upper-middle-class level.’’
Basically, every neighborhood in Greater Boston costs as much as some of the best neighborhoods in cities around the world.
For example, Nantucket, which Valhouli said was one of the most expensive in the area, compares to Leblon, an affluent neighborhood in Rio de Janeiro, Brazil with an average purchase price of $1,133 per square foot.
“One of the questions we are trying to answer is: How high can this go?’’ Valhouli added. “How high can they go in general? I don’t think they are high as they could be yet.’’
Valhouli recently made similar maps for both New York City and San Francisco.
Massachusetts towns and cities where homes are selling really fast:
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