I don't think so. I think it might be a bit longer than a normal guitar. I have quite a few SS basses. Only rockbass corvette SS fits normal guitar case. I used to have a viola. If I remember correctly it couldn't.
The Galaxie is Hofner's version of a Strat. A 500/1 won't fit. Why don't you just get the proper case (here)? It's only one Euro more, and will be a perfect fit.
The 500/1 is a hollow body "violin" bass. The case you've linked is for a solid body and is way too thin. If you want a rectangular case, I think you'll have to find a used, vintage one - or have one made. The only new cases I've seen are "shaped" to fit. The shaped cases (especially the one Hofner makes for that bass) appear to offer better protection than most of the rectangular ones I've seen.
Oops. SS basses are typically 30" scale, 32" is medium. Epiphone viola bass cases run about $90, and if you Google "Epiphone viola bass case", you'll also see Hofner-branded gig bags for $40. Epiphone cases are pretty darn nice.
The only square cases I've seen for the 500/1 is Hofner's 'Bullet' deluxe case. But they're pretty pricy.