Global property comparison reveals what $500,000 can buy overseas versus Australia

Australians grappling with the nation’s housing affordability crisis could find their money stretches significantly further in overseas property markets, a new analysis shows.

While $500,000 might barely secure a small apartment in some Australian capital cities, the same budget could purchase luxurious villas, waterfront properties or historic homes in various international destinations.

Global property options range from Mediterranean villas to Southeast Asian luxury homes at price points that highlight the stark contrast with Australia’s property market.

In Greece, where property values remain relatively low following the country’s financial crisis, half a million dollars can secure substantial island properties.

“This delightful villa in Kefalonia offers the kind of laidback island life that most can only dream of,” said Steven Tropoulos, mortgage broker at Sydney-based agency Liberty.

“You’d wake to views over lush green hills, enjoy breakfast in your private garden, and spending lazy afternoons by your pool. The villa is perfect for those seeking tranquillity, authenticity, and a connection to nature,” he said.

Thailand’s Phuket offers similarly impressive value, with luxury villas priced well below equivalent Australian coastal properties.

“This luxury villa is an exceptional buy,” said Tropoulos. “Offering four bedrooms, a private pool, and high-end finishes, in one of Thailand’s most sought-after lifestyle destinations — and all for $427k, which significantly less than what a comparable property would cost in Australia’s coastal hotspots.”

New Zealand’s Southland region presents opportunities for Australians seeking more space and a different lifestyle.

“Many Australians are making the move to New Zealand and Southland is known for its laidback lifestyle, allowing residents a perfect balance between work and home life,” said Luke Bindley, founder and buyer’s agent at Austin Buyers Agents.

“For just half a million dollars, you can purchase this home on 3 acres — in comparison, in Sydney the median unit price has now surpassed a million dollars!” he said.

European options include apartments in Montenegro’s coastal Budva for around $449,000, offering “a perfect mix of coastal beauty and vibrant Mediterranean culture,” according to Tropoulos.

In Tuscany, Italy, $420,000 can buy a restored two-bedroom apartment in the heart of Empoli, combining historic character with modern comforts.

“Fully restored with modern comforts, while retaining its historic soul, it’s a home made for long lunches, slow living and soaking up the rhythms of everyday Italian culture,” said Tropoulos.

The United States also offers competitive options, with a ground-level condo in Las Vegas’s Desert Shores community available within the $500,000 budget.

“Residents can enjoy community perks such as two pools, a clubhouse, and a gym, all while benefiting from included utilities,” said Bindley.

For those seeking a more dramatic lifestyle change, Costa Rica provides affordable luxury in natural surroundings.

“It is estimated that a move to Costa Rica can allow a single person to live on around $1500 per month, compared to more than double in an Australian city,” said Bindley.

A three-bedroom property in Guanacaste province, featuring two terraces and private river access on a one-acre lot, falls within the $500,000 budget.

“The house is built at the same height of the trees so you can see the monkeys, sloths, toucans, iguanas and even pumas — you even have your private river access!” Bindley said.