(Inner City vs Burbs)

Mosman park is not that far off with such extreme examples. 2 to 3 mil will get you an ocean front apartment in Sentosa (Singapore) Only 2 to 3 times as expensive compared to similar high end "suburbs" in Australia

 

huh? mosman park is extremely far off that example. the most prime land in mosman park, eg saunders street where people like john hughes live, costs $5-8K/M2. the land i quoted above is $55k/m2, so up to 10 times the price of mosman park

 

10 to 15 mil can get you a house in Singapore. When I said extreme, that $120m sale is far from the norm. So is the $57m something house in Mosman park.

 

2050 population estimate of an extra $15 million people will need circa 7 million extra houses. Not gonna come from free standing houses.

 

im not quite sure the point youre making. on any metric, prime residential non-development singapore single home sites will cost at 3-6 times per sqm what the equivalent does in mosman park.

they really arent comparable at all. maybe im missing something or misinterpreting here, you arent actually saying the price differential between the 2 isnt massively significant are you?

comparable in singapore would be the Good Class Bungalows (GCB), of which there are about 3000 in singapore in a couple of really exclusive areas, have to be minimum 1350sqm land and can never be subdivided or have more than 1 home built on. prices have dropped fairly significantly due to general singapore downturn and the govt from 2012/13 onwards only allowing singaporean citizens to buy them.

even then, land value in 2016 is around 18k/sqm. and this is for 3 thousand homes. theres nowhere anywhere in australia that remotely comes to it. if you cherry pick the most expensive areas in sydney like like vaucluse etc it will be less and youre talking about the most prime 10, max 20 homes in the entire city vs 3000 in singapore.

 

Yup leasehold for 99 years

 

agreed, there will need to be a significant shift going forward.

 

I am not saying Singapore is comparable to Australia. Just trying to contrast with it and pointing out that the $120m sale is not the norm. Followed by some comparison on apartment prices to what's available here. A 3 bedroom condo in the Singaporean burbs can be bought for a mil and change. A 3 bedroom apartment in rivervale costs $700k and upwards.

Houses cost 3 to 4 times as much as they do in high end suburbs here, again a realistic comparison.

sanj, I didn't mean to refute what you are saying - just adding more info. White Flag

 

no worries, thanks i get what youre saying now and no need for white flag! i enjoyed the discussion actually cos it made me look up and confirm/learn facts and figures for singapore

 

My friends will be moving to a new condominium in October. I'll be checking it out in December. I know few who are owners of houses in the best district in Singapore. Very expensive.

I've lives in ultimo for a number of years and moves into the burbs when married. Apartment living is fine but noisy neighbours and traffic get to me!

 

From my "big country town" Brisbaneite perspective, Sydney already looks like its gone that way to me from around 2013 onward. If you didn't buy free standing before then, you're now out of luck.

While I'm aware there are plenty of people chanting "bubble", personally I tend to think that's wishful thinking and Sydney is a reflection of town planning & banking de-regulation decisions made 20+ years ago. It might cool off a bit, but personally I consider myself very lucky that I don't have to worry about trying to buy a family home in that market.

 

i would say sydney in the next 5-7 years.
Melbourne in the next 8-10 years
Brisbane in 12-15 years
( taking into account predicted pop growth rates in all cities)
If you want a house in 15 years + time, you will have to target the other smaller cities or have lots of money.

 

Having lived about 4 years in Melbourne cbd with my office at walking distance I would love to head back but my concern is that buildings depreciate and as a long term investment, there will be limited options to improve on a deteoriting older looking building. Is that a concern you or your daughter has had?

 

Yes, sort of
I have been investigating the townhouse option in desirable locations, more $, but I think you probably could not go too wrong, some suburbs that come to mind in Melb, Hawthorn, Prahran, Clifton Hills and could you really go wrong with anything in South Yarra??

 

Yes better option if you have the money and no don't think you can go wrong with those.