Are Units/ Apartments ever a good investment?

Agreed. It vary case by case, which makes the investing-in-properties journey fun and fascinated.

There might be some general rules and guidance of looking for good investment. But a awesome investment for one individual might turn out to be a poisonous pill to another one. It really come down to personal circumstance and an important element, luck. (Although people don't mention it or think about this way.)

 

Yes in the correct locations...in parts of Sydney, Melbourne, and Brisbane they are gold

I wish I would have bought 20 studios in 1994 for 60k a pop....now they are over 450k a piece.

I missed out on one in Darlo....was listed for 85k ground floor 1 brm with very small courtyard. Would be easily 700k now!

 

Don't we all have a story like that? Decided not to buy OTP studio (when working for a reputable developer) - absolute dog of a property (under a freeway ramp, no sunlight etc) hence very cheap. Now a boutique hotel in the CBD

 

What about a unit/apartment in Perth inner circle?

 

Hi Y-man,

Would you kindly share some examples of streets or suburbs where these can be found in Melbourne?

Also, as a purchaser, how do you get information on how active/responsible the OC is?

Thank you

 

Thanks!
I guess we're on the same side of the woods

Good practical advice on visually checking the actual building. Dumb question- On getting OC minutes and budget- how do you even get in touch with the OC to get those items ? Also, why would an OC even entertain such a request?

 

A friend of a friend sold about ten units opposite Mt Druitt station back in '98 for $60k each. I think of him when I think how terrible you can get the timing

 

Thank you

 

Depends which city? In Melb, apartments almost never. Units yea not bad.

 

keeping an eye on online auctions for apartments in Sydney today. Many of them are being passed in

 

I reckon give it another 6 months and there will be quite a few bargains for 1 and 2 bedroom apartments in the Sydney City area and even in the coastal suburbs like Bondi and many other towns up and down the coast that have seen tourism disappear almost overnight, it might be hard to find a tenant , but owner occupiers would be okay
Many international students never managed to even make it to Australia, the ones that did are now being told that they are not really welcome.
Pretty sure about 130,00 Chinese students came here last year and spent about $25,000 each , plus all the money that keeps our universities afloat and a few rumours that Scomo with have save a few universities from collapse.,
Even with tourism , international travel will probably take a big hit for a lot longer than 6 months and may even blow out to 12 months .
Many workers in Australia will end up blowing all their annual leave in the next few months, so once its all up and going again local tourism will probably also take a good hit.

 

I missed the last bottom in Sydney, keen to get the bottom of this one *

*or close to it!

 

I am seeing in the press and on TV that these online auctions are being heralded as successful! Absolute lies and trying the hide the grim truth about the state of the property market in Australia now!

 

I've heard this before. Redbrick specifically? Or any kind of Brick? Red seems to be the colour of the 70s ones.

 

Shorthand for units from a certain era. After that seems to be mainly concrete.

usually well built, old enough for structural issues to show, 3 floors no elevators or expensive frills to maintain.

 

If I wasn't a fan of timber windows, are the later ones with alloy windows alright, or is there something less good about them? Concrete on the inside or outside? The ones I'm referring to are mainly cream or brown brick. All walk ups.