Urban real estate in major U.S. cities costs much less than it does in many other industrialized nations. According to the Global Property Guide, an apartment in London costs $28,355 per square meter ($2,637 per square foot), and Paris $15,670 per square meter ($1,457 per square foot). By comparison, according to Chicagocondosonline.com, the median sales price in 2007 for a Chicago condo was only $294 per square foot, which comes to $3,165 per square meter.