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Melbourne Properties are … CHEAP?????

By Gavin Staindl

What $1.1 million AUD can get you in Zurich – a 1 bedroom studio apartment

There was a time, not so long ago, that I remember stumbling down a random cobblestone path in Zurich, Switzerland. I admit, I probably had one too many vodka honey shots but they were so damn tasty.

It was approx 11pm
Randomly I ran into a real estate agent from Switzerland. You can imagine my delight. “Nooooaaahhhh wayyyyyy. I’mmmmm an estateeee agent toooooooo”
We clicked instantly. And despite my inebriated energy we managed a really intriguing conversation about global market trends and economic predictions.

As we weaved our way through one of Europe’s most expensive cities he pointed out various apartments that had sold that year. I could not believe the prices he was rattling off for the smallest, ugliest buildings.
He pointed to a two-bedroom apartment on a third floor of a decaying building that looked as if it was a cozy home for a set of rats, “Zis one sold for 2.5 million euro” he said nonchalantly.
I thought Melbourne was expensive…

I learnt that night that no matter how expensive you might think properties are in Australia, or Melbourne, or south Pakenham there is always a whole new level of craziness just around the corner that makes our market look like a bargain.
Moving forward, each week we will show what you can buy for $1m in another random country. It’s always fun to dream, right?

Oh, and as I was writing this, the RBA decided to leave rates on hold. A win for everyone. Yay!

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