If you’ve been eyeing a second property, you already know that Singapore’s real estate prices are sky-high. Add a 20% Additional Buyer’s Stamp Duty (ABSD), and the numbers become even more daunting.
But what if you could own a spacious landed home for less than the price of a small Singapore condo? The answer lies in Melbourne.
With property prices in Melbourne still lagging behind their long-term growth potential, now is the perfect time to get in before the market catches up. Let’s break it down.
The Price Tag: Singapore vs. Melbourne
Singapore’s Property Market: The Price of Limited Land
Singapore’s property market is one of the most expensive in the world. As of January 2025, the average price for a 2-bedroom apartment unit is approximately SGD 1,780,000. Add ABSD of 20% (for your second property), and you’re looking at an additional SGD 397,816 on top of those prices.
For landed homes? Forget about it unless you’re willing to shell out upwards of SGD 5 million. This means that even well-off investors often feel the pinch when it comes to expanding their portfolios locally.
Melbourne: Landed Property for the Price of a Condo
In contrast, Melbourne offers significantly lower entry prices:
Land Prices: Depending on the suburb, land costs range from AUD 300,000 to AUD 700,000 for a 400-600 sqm plot.|
Construction Costs: The average cost of building a new house with modern designs ranges from AUD 556,600 to AUD 1,391,500.
Total Investment: Starts from AUD 800,000 (SGD 680,000).
For less than half the price of a small Singapore condo, you can own a landed home in Melbourne—one with room to grow and appreciate in value.
Why Melbourne? A Smarter Investment with More Value
Singapore’s property prices have surged, but Melbourne’s prices remain undervalued. This means you’re entering a market where capital growth potential is strong, yet the price tag is still reasonable.
For those who don’t want to build from scratch, modern townhouses in Melbourne offer an attractive alternative, starting at AUD 700,000. In Singapore, that wouldn’t even get you a one-bedroom condo in a prime location.
| Expense | Cost Range (AUD) |
| Land (400-600 sqm) | $300,000 - $700,000 |
| Construction (new home) | $556,600 - $1,391,500 |
| FIRB Application | $5,000 - $13,200 |
| Stamp Duty | $18,000 - $40,000 |
| Total Investment | $800,000 - $1.45 million |
Whether you’re looking to migrate, retire, or secure a home for your children studying in Australia, Melbourne offers an unparalleled quality of life.
But Is Building Worth It? Absolutely.
Customization at Its Best
When you buy a property like a semi-detached house or villa unit in Melbourne, you often compromise on design or layout. But when you build from scratch or choose new home designs like townhouses or terraces, you’re in control. From the number of bedrooms to the layout of your kitchen, every detail is up to you.
Land appreciates over time; in Melbourne’s high-growth suburbs, you can expect steady increases in property values over time. Building a home on your land maximizes this potential.
New homes often come with modern designs and energy-efficient features that are more attractive to renters or future buyers. Think solar panels, open-concept living spaces, and smart home systems.
Costly vs. Expensive: A Smart Investor’s Perspective
- Expensive means high in price.
Buying in Melbourne may seem costly at first, but it’s not expensive—because you’re getting more space, land ownership, and appreciation potential for less money than a small condo in Singapore.
The Market Won’t Wait—Why You Should Act Now
- Building costs are climbing due to inflation and material shortages.