Adelaide Apartments, would you buy?

Sometimes i really think Adelaide apartments are so much better in value, especially for own living like retirees, students, young couples or even families... They are much bigger, a lot less densed, cheaper (no stamp duty) and with those amazing views especially over looking the east side. But too bad they are bad investments in a state with weak migration growth...

West Franklin Adelaide, 142-150 Franklin Street (West Franklin), Adelaide, SA 5000 - realestate.com.au

East Park Kent Town, 1 King William Street, Kent Town, SA 5067 - realestate.com.au

Kodo Apartments Adelaide, 29 Angas Street, Adelaide, SA 5000 - realestate.com.au

The government should really market these ones for retirees, such a beautiful city to live in with all the amenities around.

 

Great to live in for retirees.
Keep in mind that appartments have:
Higher vacancy rates due to lots of competition.
Lower capital appreciation.
They are also more difficult to rent and sell.

Your an Eastern suburbs person ATANG, that's a far superior investment strategy. Your properties are perfectly located for maximum capital growth, inner Adelaide appartments would be a step down for you.

 

West Franklin / Kodo... never a million years. There's so many of them! Sure not as many as Brisbane / Sydney / Melbourne, but a lot for our population. There's no way of differentiating yourself when leasing or selling vs all the other identical places and you end up undercutting each other all the way to the bottom.

Kent Town, or other non CBD areas - could be a go depending on the size and cost. I'd stick to inner areas if you like units. A lot of them are sold at a premium just because they're new. I leased an older (but newly renovated) unit in Kent Town recently and had a dozen applications.

 

Haha, yeah i know. I won't touch them, but wishing more of these could drive up in Adelaide. Am just thinking how much potential Adelaide cbd has (if the government got the guts to do it), after stayed in Melb for awhile...

 

Lately been looking around Mile End area for older units;

5/229 South Road Mile End SA 5031 - Unit for Sale #122473422 - realestate.com.au

something like this ok South Road would be very noisy because traffic but Mile End is close enough to walk into the CBD and I reckon you'd get a student in there.'

$280 rent would pretty much pay for itself.

 

Ha! I moved a lady into this apartment many years ago,alot of stuff went from the truck straight up over the balcony,by passing the stairs.Ahhhhhh memories.

 

Mile end is good, real up and coming area adjacent to the cbd. My office is there.

Please stay away from south rd for residential investments though as the road is the busiest in Adelaide and is undergoing widening.

 

nup, i wouldn't buy an inner city appartment

over-supplied = low capital growth