Even though average house prices reached $413,000 in June, Canadian homes are not the most expensive globally.

The below video (from Huffington Post) shows that you could buy a 400-square-foot studio apartment in Manhattan for the same price. Still, that amount could also get you a mountainside chalet in Poland.

In any case, the news outlet reports that Canadian house prices have risen 7% over last year, and many people are anticipating the market to correct.


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For more, read:

Home prices overvalued by 20%, says Fitch

Millennials to boost housing market

Toronto home prices jump 10%

House prices surge in big cities during lukewarm market

How to invest in real estate