Not literally: "On the subject of prices, Shvo noted that as real estate prices go up in emerging markets, New York City remains a bargain in the eyes of foreign buyers—whether they're acquiring apartments or entire buildings. He said the city's cost of living comes in at number 22 worldwide, well behind living expenses in Moscow, London or Dubai. And while the value of land alone in Manhattan has appreciated from the $24 paid by the Dutch in 1624 to more than $200 billion today, 'it's still fairly cheap' by comparison to other world capitals." [Globe St.]
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