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Brisbane Investment Apartment Inner City

Discussion in 'General Property Chat' started by JonnyM, 14th Sep, 2016.

  1. JonnyM

    JonnyM New Member

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    Just wanted some outside opinions.

    I am looking at buying an apartment in the City in Brisbane. I know there are an abundance of apartments going up around Brisbane and that people are saying not to buy.

    I want to stay close to the city and my price range dictates that it needs to be an apartment around $300k.

    I plan on living in this apartment for 2 years and then renting it out. Do people forecast a price drop in apartments because of an over supply, so I should wait to get a better deal? Will the rent prices drop in a couple of years?

    I have heard there are tenancy problems for some places like Fortitude Valley but not so much about Inner City.

    Any input is much appreciated
     
  2. wombat777

    wombat777 Well-Known Member Premium Member

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    Make sure you carefully look into vacancy rates before going in this direction. I understand unit vacancy rates are high in Brisbane inner city.
     
  3. jimmy

    jimmy Member

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    Hi johnym
    I have an appartment/unit in new farm and i have had no worries renting it out. It is an art deco building so i would suggest to look for something with a twist/a bit different to other appartments coming onto the market.
    (Long time reader first time poster )
    Jim
     
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  4. New Town

    New Town Well-Known Member

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    If you plan to live in it for a couple of years then you might not have to worry about possible vacancies or falling rents that may happen in the near term from the supply surge.

    But then the concern are high strata corp fees that you can't tax deduct if you live there
     
  5. Magoo

    Magoo Well-Known Member

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    Agree....I'd be venturing down this end of town....I'd be staying away from the actual CBD.
    Mate of mine has an apartment in New Farm....Never empty.
     
  6. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    [​IMG]
     
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  7. Big Will

    Big Will Well-Known Member

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    Is this telling me to buy seven apartments :p
     
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  8. Player

    Player Well-Known Member

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    Yes!

    But not in the city. In Moorooka :D
     
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  9. Leo2413

    Leo2413 Well-Known Member Premium Member

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    High chance it will make a poor investment.
     
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  10. JDP1

    JDP1 Well-Known Member

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    Incorrect.
    The image of the roulette wheel shows red 7.
    In my (considerable) experience in roulette, lucky sevens and red always win :)
     
  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    That's 7 for 7% vacancy rate :p
     
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  12. New Town

    New Town Well-Known Member

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    that's for 7% net yields baby
     
  13. vbplease

    vbplease Well-Known Member

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    7 years for the unit prices to double :cool:
     
  14. hammer

    hammer Well-Known Member

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  15. Whitecat

    Whitecat Well-Known Member

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    Buy an old one with low bc or you won't make any money for a long while potentially. Why not rent an apartment and buy a house in Logan or something
     
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  16. Angel

    Angel Well-Known Member

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    If you must buy a place to lived in, then rent a unit in the city for now. Buy one in two year's time when they are priced lower than they are today.
     
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  17. BB5

    BB5 Well-Known Member

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    I would buy a low rise in a blue chip suburb which has unique features that don't exist in the high rise apartments. One with a garage/courtyard could be a better buy as they will be far more unique come resale.
     
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  18. Pumpkin

    Pumpkin Well-Known Member

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    I have one exactly like that :)
     
  19. BB5

    BB5 Well-Known Member

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    I find they are often more spacious than a townhouse and don't have the downsides of high rise (noise, large body corp, availability). Whilst being close to the good things that Brisbane has to offer. What's there to do 20 k's out of Brisbane? not a lot.
     
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  20. Whitecat

    Whitecat Well-Known Member

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    The rsl
     
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