Got S$500,000 to invest in property? Here’s what you can buy in Singapore and nearby cities
An overseas home not only serves as a holiday home, it could also mean an extra source of income.
Are you in the market to invest in a second property? What property can a S$500,000 budget get you? While it is not a terribly big budget when shopping for an apartment in Singapore, it could score you a nice home outside of Singapore. An overseas home not only serves as a holiday home, it could also mean an extra source of income.
Here’s what you can buy in Singapore and nearby cities like Melbourne, Taipei, Tokyo and Bangkok.
PSF price (city centre): S$2,326
PSF price (outside of city): S$1,223
What you can get: A resale 400 square-feet condo unit outside of the CBD.
The pickings are slim. While S$500,000 is a lot of money in regular context, it won’t get you very far in terms of property ownership. You can either consider holding out for a rare gem or you could invest your money elsewhere.
PSF price (city centre): S$832
PSF price (outside of city): S$673
WHAT YOU CAN GET: A newly-built 500 square-feet one-bedroom condo unit in a prime district within 2km from the CBD.
Melbourne has consistently been ranked the most livable city in the world for the last seven years. To curb speculation and rising prices, the Australian government limits the ownership of newly launched apartments and vacant land to foreigners. Non-residents will require official approval prior to buying residential property in Australia.
Here’s what S$500,000 (AU$530,000), excluding taxes, can get you in Melbourne.
PSF price (city centre): S$1,353
PSF price (outside of city): S$739
WHAT YOU CAN GET: A centrally-located freehold 350 square feet one-bedroom apartment.
There are no legal restrictions on foreigners when buying property in Japan. All you need to do is to provide a written notification to the Bank of Japan within 20 days of purchase.
Compared to the prices in Singapore, a similarly sized apartment typically costs S$150,000 less in Tokyo. If you’re in the market to buy an apartment, know that Japanese apartments tend not to come with facilities and there is a boon of options that fall below the S$500,000 mark which translates to greater competition when renting out. Investors should also take into consideration Japan’s negative population growth rate before taking the plunge.
PSF price (city centre): S$1,457
PSF price (outside of city): S$805
WHAT YOU CAN GET: A freehold 400 square-feet apartment, two kilometres from the CBD.
Hong Kong investors have been reportedly shunning Singaporean property in favour of Taiwanese apartments. Most Taiwanese apartments do not come with facilities and are situated in ageing building. However, the silver lining comes from the fact that their apartments tend to have high ceilings that allow homeowners to turn apartments into lofts. Potential homeowners should note that there are a far lower number of expats in Taiwan which translates to a sluggish rental demand and low rental yield.
Here’s the best that S$500,000 (NT$11.23 million) can get you.
PSF price (city centre): S$668
PSF price (outside of city): S$318
WHAT YOU CAN GET: A freehold, two-bedroom luxury condo unit over 700 square-feet in the heart of the CBD.
If you frequently visit Bangkok, it could be worth your while to consider investing in an apartment. There are no restrictions on Singaporeans buying freehold condo units in Bangkok, as long as less than half of the units in the development is owned by foreigners.
Here’s what S$500,000 (THB 11 million) can get you.