How much is the house price in Melbourne, Australia?

House prices in Melbourne, Australia are about 40,000 to 50,000 square meters.

Australia’s real estate market has been developing at an average rate of doubling in value every seven to ten years in the past 40 years. Pleasant climate conditions, comfortable living environment, complete urban infrastructure, and other developed countries are comparable. With a relatively low cost of living, Australia is the most suitable country for immigrants. Higher investment costs have relatively lowered rental returns and room for appreciation.

Both Sydney and Melbourne in Australia have the highest housing prices in the country. In particular, housing prices in Sydney are very close to those in Beijing. The price per square meter of high-quality real estate in prime locations is about 50,000 yuan. Housing prices in Melbourne are slightly lower, with prices per square meter ranging from RMB 40,000 to RMB 45,000. Except for these two major cities, housing prices in most Australian cities range from RMB 10,000 to RMB 20,000 per square meter. However, this price is not fixed and will continue to change with market changes.

The Australian real estate market is very different from the domestic real estate market. Houses there are more often priced based on land. To buy real estate there, you need to buy land first and then build a house. In this case As a result, most houses in Australia are sold by units. For example, the average price of a detached house in Melbourne is around 2 million yuan, while the price of a detached house in Sydney is relatively high, with most properties priced at around 4 million yuan.