Cheap ASX 200 shares I'd buy for less than $10

Find out why I've got 2 cheap ASX 200 shares trading for under $10 per share like Mirvac Group (ASX: MGR) on my watchlist today.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you've saved up a bit of cash and want to invest, you might have your eye on some ASX 200 shares trading cheaply.

Here are a couple of my top picks that you can snap up for under $10 per share today.

Man in white business shirt touches screen with happy smile symbol IGO share price upgrade

Image source: Getty Images

2 ASX 200 shares to buy for under $10

Harvey Norman Holdings Ltd (ASX: HVN) has been a bit of a surprise packet in 2020.

The Aussie retailer recently announced booming sales during the early stages of coronavirus restrictions. Aussie workers forced to work from home have been stocking up on office supplies and electronics from the Aussie retailer.

This sales boost even saw the ASX 200 retail share announce a 6 cents per share special dividend last week.

That's good news for shareholders and we could see that trend continue if work from home becomes the 'new normal'. The Harvey Norman share price is trading at $3.54 per share right now and could be a bargain buy.

Harvey Norman isn't the only ASX 200 share that could be a steal for under $10. I also like the look of Mirvac Group (ASX: MGR) shares right now.

The Mirvac share price is trading at $2.36 per share after falling 25.8% lower this year.

Mirvac is a diversified real estate company with interests in residential, commercial and industrial assets. The Aussie developer has been hammered by the recent bear market with investors still unsure where the real estate sector is headed.

However, as the great Warren Buffett says, "be greedy when others are fearful".

There's no doubt investors are fearful right now with the S&P/ASX 200 Index (ASX: XJO) rocketing despite the bleak economic environment amid the pandemic. If you're bullish on real estate, Mirvac could be a good ASX 200 share to buy.

The group still has a market capitalisation of $9.4 billion and trades at a price to earnings (P/E) ratio of 9.3.

The big question mark for me is the end of government stimulus measures later this year. These include mortgage holidays and payments to Aussie businesses and workers. That could put some stress on the real estate sector.

However, no one knows the future. We could just as easily see an extension of stimulus measures towards the end of the year.

Foolish takeaway

These are just a couple of ASX 200 shares that could be of good value for under $10 per share.

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Cheap Shares

man jumping for joy carrying shopping bags
Cheap Shares

I think value investors would love to buy these 2 cheap ASX shares

These two shares could deliver for investors.

Read more »

Young investor watching share chart in anticipation
Cheap Shares

How to spot an ASX share price bargain

Here are three ways you can tell if a share is in the bargain bin.

Read more »

ASX bank shares buy A young boy in a business suit giving thumbs up with piggy banks and coin piles
Cheap Shares

The ASX 200 is still full of cheap shares despite this year's surge and I'm ready to buy more

Despite the rebound for some names, the ASX 200 could be a fertile hunting ground.

Read more »

Gas and oil plant with a inspector in the background.
Cheap Shares

Looking to energise returns with this pocket of undervalued ASX shares in 2023

Here's one sector that this expert reckons will fly in 2023...

Read more »

ASX bank shares buy A young boy in a business suit giving thumbs up with piggy banks and coin piles
Cheap Shares

3 cheap ASX shares that can help me easily build a second income

Great value ASX shares can unlock strong dividend income.

Read more »

A businessman in soft-focus holds two fingers in the air in the foreground of the shot as he stands smiling in the background against a clear sky.
Cheap Shares

'Attractively priced': Why fund is excited by these 2 ASX 200 shares

The Elvest team reckons these beauties are ripe for picking up in the post-Christmas sales.

Read more »

A older man and younger man rest, exhausted but happy after a good boxing session.
Cheap Shares

2 hammered ASX shares to buy before they rise again: Celeste

If you're purchasing a house you'd want it for the lowest price. So why is it any different for stocks?

Read more »

A couple sits in their lounge room with a large piggy bank on the coffee table. They smile while the male partner feeds some money into the slot while the female partner looks on with an iPad style device in her hands as though they are budgeting.
Dividend Investing

Buy these cheap ASX dividend shares: Goldman Sachs

Goldman Sachs thinks these cheap dividend shares could be buys...

Read more »