The soaring prices in big cities are mainly linked to their reputation and the opportunities they can offer. A city can still look cheap by European standards but it’s very expensive for the locals and the nationals. In Morocco,
In the old city, houses are much more expensive as they are favoured by foreign buyers who prefer to live in the exotic atmosphere of the East. Now most of the locals can’t afford them as their price jumped a lot in the past years. One of the advantages of selling these houses to Europeans is that they restore them beyond recognition. Many of these houses were in a state of ruin. Because of their size, their poor owners couldn’t repair them. The old city retrieved its boom thanks to investment by the Europeans, mainly French. The houses have become guest houses.
The economic advantages are that the guest houses created employment on many levels. Local artefacts got revived in terms of building and furniture after the domination of industrialised items. Artisans have a source of living.
On my part, I wish to have the chance to live just in a small town or a village.
Maybe as the city is getting more and more international reputation and the increasing prestigious tourist projects, it may rank as one of the most expensive city, at least in Southern Europe, North Africa and the Middle East.