What kind of property can you buy for $500,000 around the world?

tuscany-italy-backyard-property

Whether you're an investor, owner-occupier or first-homebuyer, the skyrocketing prices of homes in Australian cities can make you feel a little glum.

In April of 2016 the Daily Telegraph reported that cheap homes in Sydney are history, stating that: ?buying a house for under $400,000 in Sydney has gone the same was as the fax machine and VHS recorder - relegated to the history books.? In the same vein, the Australian Financial Review have dubbed properties within 5kms of Sydney CBD as being part of the ?million-dollar club.?

You?re probably wondering, ?so what can I actually get for $500,000 AUD?? Well, we thought we?d take a look, not only in our own urban backyards, but also at our international friends to see where you can get more bang for your buck.

For comparison?s sake, let?s start with Sydney.

Sydney, Australia

Property type: Apartment - 1 bedroom, 1 bathroom, 0 parking.

Suburb: Stanmore, Sydney Inner West.

Price: $495,000.

Distance from CBD: 7.8kms.

stanmore-apartment

Located in the vibrant Inner West of Sydney is a one bedroom apartment within walking distance to Stanmore train station, and a hop and skip to the vibrant centre of Petersham.

Source: Domain

Read: Sydney's hottest areas for property

Melbourne, Australia

Property type: Apartment - 1 bedroom, 1 bathroom, 1 parking.

Suburb: St Kilda, Melbourne.

Price: $459,000.

Distance from CBD: 7.4kms.

st-kilda-apartment

st-kilda-apartment

Melbourne is often touted as a more affordable city for investors. Nestled in the waterside suburb of St Kilda is this chic 1 bedroom apartment with polished concrete flooring, an entertainer's balcony and handy car space. Growth in the St Kilda area recently sat at about 31.79%.

Source: Domain

New York,  USA

Property type: Studio Apartment - 1 bathroom, 0 parking.

Suburb: Upper East Side, New York County.

Price: $437,297.

Distance from CBD: 13.35kms.

new-york-studio-apartment

For $437,297 AUD you can bag yourself a studio apartment in New York's trendy Upper East Side. The studio is within walking distance to the Manhattan, so is the perfect location for a driven and ambitious go-getter.

Source: Compass

?Did you know? In 2015, Sydney was ranked second worst in terms of global housing affordability; Hong Kong came in at number one.?

Madrid, Spain

Property type: Apartment - 2 bedrooms, 1 bathroom, 0 parking.

Suburb: Embrajadores, Madrid.

Price: $427,347.

Distance from CBD: 1.7kms.

madrid-apartment

madrid-apartment-interior

If you're a fan of warm, dry climates and everything in sight being bathed in a soft golden hue, then you could consider a move to Spain. For under $500,000 AUD you can nab a 2 bedroom apartment in the quaint suburb of Embrajadores. Private parking is a luxury you might not be able to afford, but with Madrid's efficient subway and transport links working like clockwork, a car isn't really a necessity anyway.

Source: realestate.com.au

Jakarta, Indonesia

Property type: House, 9 bedrooms, 10 bathrooms, plenty of parking.

Suburb: South Jakarta.

Price: $425,202.

Distance from CBD: 15kms.

jakarta-apartment

jakarta-apartment

Fancy a 9 bedroom, 10 bathroom house for under $500,000 AUD? Well, consider putting a move to Jakarta on the cards. But, it's not all rainbows and roses, because while the home is only 15kms from the CBD, the notorious Jakarta traffic means you could spend 50 minutes in traffic jams on your morning commute.

Source: realestate.com.au

And for homebuyers looking for an idyllic sea or tree change?

Providence Island, The Bahamas

Property type: 3 bedroom apartment, 1 bathroom.

Suburb: Providence Island, The Bahamas

Price: $463,404.

the-bahamas-providence-island

bahamas-apartment

If you're searching for a touch of paradise, for under $500,000 AUD you could purchase a 3 bedroom, 172.34 m2 apartment on New Providence Island in The Bahamas.

Read: What to look for when buying an investment property

Montreuil-Bellay, France

Property type: House - 5 bedrooms, 2 bathrooms, plenty of parking.

Suburb: Central Montreuil-Bellay, France.

Price: $498,330.

france-house

france-house

Check out this huge 5 bedroom family home in Montreuil-Bellay, where for less than $500,000 AUD you can live out your Francophile dreams. Situated about 3 hours from Paris and a short drive from the cities of Tours and Nantes, it's the perfect base for road trips and weekends in Aix-En-Provence. The property also features a large yard, workshop and garden shed.

Source: realestate.com.au

Joanne Groombridge
Open Agent Customer

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