- 14 Oct, 2016

$500,000 Homes Around the World


To see how Sydney property compares to other homes around the world a study reviewed 15 global markets. Armed with just $500,000, the research uncovers what this budget will buy you. Lets look at the results now.

Hong Kong, China

Suburb: Tsuen Wan
Bedrooms: 2
Bathrooms: 1
Parking: 0
Property Type: Apartment
Av Cost per Sq. Metre: $30,340

With the least affordable homes around the world, Hong Kongs property is 19 times higher than the median household income. For $500,000 you can buy a small apartment of approximately 20 to 30-square-metres in this city.

London, United Kingdom

English Homes

Suburb: Penge
Bedrooms: 1
Bathrooms: 1
Parking: 1
Property Type: Apartment
Av Cost per Sq. Metre: $26,000

Rating as the second highest city for least affordable homes is London. All inner city apartments here are over $500,000. Although, you can buy a Victorian era apartment about 12 kilometres out of the CBD for this money.

Tokyo, Japan

People walking in Shibuya shopping district.

Suburb: Asakusa
Bedrooms: 2
Bathrooms: 1
Parking: 0
Property Type: Apartment
Av Cost per Sq. Metre: $23,100

Classified as the third least affordable city for property is Tokyo. A budget of $500,000 will buy a CBD apartment of around 20 to 30 metres squared in this city. The bonus is you are also within walking distance of trains, restaurants and shopping.

New York, America

Skyscrapers of Downtown Manhattan, New York, USA

Suburb: Upper East Side
Bedrooms: Studio
Bathrooms: 1
Parking: 0
Property Type: Apartment
Av Cost per Sq. Metre: $18,760

Coming in as the fourth least affordable city for property is New York. Inner city living in New York is more expensive than a $500,000 budget. Even though, you can get within 12 kilometres of the CBD for this money. Mind you, the footprint of your home is not overly large at under 50 square metres.

Paris, France

Paris scenery with typical roofs, Eiffel and other landmarks

Suburb: 4eme
Bedrooms: Studio
Bathrooms: 1
Parking: 0
Property Type: Apartment
Av Cost per Sq. Metre: $14,100

Simple and very sparse is what $500,000 will buy you in Paris. This property is ideal for those who like to live a decluttered lifestyle in a historical building.

Sydney, Australia

Sydney Sunrise at Waverton, Sydney, Australia

Suburb: Bankstown
Bedrooms: 1
Bathrooms: 1
Parking: 1
Property Type: Apartment
Av Cost per Sq. Metre: $12,150

Out of the cities surveyed, Sydney rates as the sixth least affordable for property. Five-hundred-thousand dollars in Sydney buys you a newly-built apartment. Situated approximately 20 kilometres from the city centre, with a 40 to 50-square-metre floor space.

Mumbai, India

"Vehicles in motion in front of Chhatrapati Shivaji Terminus in Mumbai, India."

Suburb: Kandivali East
Bedrooms: 3
Bathrooms: 3
Parking: 1
Property Type: Apartment
Av Cost per Sq. Metre: $9,700

Property in this city is becoming expensive. An apartment 100-metres-squared and 45 kilometres from the CBD, costs $500,000.

Vancouver, Canada

People relaxing in the park on a beautiful sunny day.View on Yaletown from False Creek,Vancouver,British Columbia,Canada.

Suburb: Vancouver
Bedrooms: 1
Bathrooms: 1
Parking: 0
Property Type: Apartment
Av Cost per Sq. Metre: $9,010

Considered as the eighth least affordable city to live in the world, $500,000 will buy you a 55-square-metre apartment. The good thing is that this property is new and in the CBD.

Auckland, New Zealand

Boats in Waitemata Harbour, in front of Auckland's skyline, with the city's Sky Tower to the right of the photograph.

Suburb: Auckland City
Bedrooms: 1
Bathrooms: 1
Parking: 1
Property Type: Apartment
Av Cost per Sq. Metre: $8,680

In New Zealand, you can buy a standard one-bedroom apartment in the CBD for $500,000. These newer apartments range from 50 to 60-square-metres in size for this price.

Melbourne, Australia

Looking across the Yarra river from Southbank to the city of Melbourne

Suburb: East Melbourne
Bedrooms: 1
Bathrooms: 1
Parking: 0
Property Type: Apartment
Av Cost per Sq. Metre: $7,600

Having a $500,000 budget in Melbourne will buy you a 65-square metre apartment. Nevertheless, this property is approximately 2 kilometres from the city and has views, a pool and a gym.

Dubai, United Arab Emirates

A Dubai cityscape is pictured at sunset.

Suburb: Dubai Marina
Bedrooms: 1
Bathrooms: 2
Parking: 1
Property Type: Apartment
Av Cost per Sq. Metre: $6,200

With over 24-months of property price decreases, this city is still an expensive market. Nonetheless, for your $500,000 you can buy an apartment overlooking the water, situated 22 kilometres from the business district.

Moscow, Russia

St. Basil's Cathedral

Suburb: Pushechnaya ul
Bedrooms:
1
Bathrooms:
1
Parking:
0
Property Type:
Apartment
Av Cost per Sq. Metre:
$6,000

Apartments of 80-square metres will set you back $500,000 in this city. Still, this is located ten kilometres from the central business district. Property closer to the city costs more than $500,000.

Cape Town, South Africa

Beach and Twelve Apostles mountain in Camps Bay near Cape Town in South Africa.

Suburb: Constantia
Bedrooms:
3
Bathrooms:
2
Parking:
5
Property Type:
House
Av Cost per Sq. Metre:
$2,400

Although Cape Town has a high crime rate, it is more affordable than other homes around the world. For $500,000 you can buy a house in a rural setting just 15 kilometres from the business district. Just make sure you have good security.

Mexico City, Mexico

Fantastic view Mexico City's downtown at twilight.

Suburb: La Magdalena
Bedrooms:
3
Bathrooms:
3
Parking:
5
Property Type: House

Av Cost per Sq. Metre:
$2,060

Mexico City is one of the most densely populated and polluted in the world. Here you can buy a spacious, modern home for your $500,000, just 10 kilometres from the city centre.

Detroit, America

Detroit city skyline along the Detroit River at dusk.

Suburb: Indian Village
Bedrooms:
5
Bathrooms:
4
Parking:
2
Property Type:
House
Av Cost per Sq. Metre:
$1,350

Hard hit by the global financial crisis, Detroit has the most affordable homes around the world. A large, family homes of over 300 square metres of living cost $500,000 here.


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