They may have a little trouble getting this one sold..... http://www.realestate.com.au/property-unit-nt-parap-121012230
Bloody hell. Get a copy of it for us, would love to have a look at their budget. Maintaining swimming pool, play ground, tennis court, elevator, cyclone insurance all adds up I guess.
Sure but still that is ******* crazy even for Darwin. The price, rental estimates are also remenants of a time gone recently by.... I wonder if the agent chose this listing or just got lumped with it?
Serious question.... what is in Darwin anyway? Why would you pay $800k for a unit over there? The part of darwin that looks like there are suburban streets is tiny!
I inspected a Sydney 3/2/2 earlier this year with even higher body corp fees... right next to the train line too
Work. Very low unemployment and until about a year ago a severe undersupply of housing as commodities went through the roof and the construction of a 36 billion dollar gas plant. Different story now though. What a difference a couple of years make...
Another body Corp bargain... Is this normal for high end properties? 6/4 Pope Court Bayview NT 0820 - Townhouse for Sale #121334470 - realestate.com.au
For anything near water, or in a cyclone area (north QLD, NT) - yes. Some strata insurance premiums went up 1000% or more in the year following the most recent floods/cyclones. Insurance is generally around 30% of the administrative fund contribution. Multiply that premium by 10 and that's generally where the money goes. The other thing that pushes levies through the roof is schemes with a high level of service (e.g pool, elevator, caretaker, jetty, fire hydrants) and relatively low number of units amongst which to divide the cost. Luxury riverfront properties in Brisbane CBD with 10 or so apartments on their own floor = levies in excess of 20-43K per year.