Melbourne CBD - received offer over ~28% what I paid in 2012...sell or hold?

We sold first property and rather than paying off the mortgage , we put the funds in a account which became the security for the loan . Once we found the new property we drew the funds out , purchased the property which then became security for the loan . . Our Broker handles every thing , but it was simpler than taking out a new loan , and alos if we'd paid off the existing loan and applied for a new one , we probably wouldn't have been able to get a new loan due to changing in serviceability .

Cliff

 

Yeah, I prefer long term too but only if they are good tenants and if they willing to pay a little more. If i rent out cheap and long term, it kinda defeat the purpose of owning in cbd. The main advantage of cbd is it should act as your cash cow to feed those lands in the suburbs so that you'll be able to hold for many years as long as the cbd still gaining cg slowly.

 

If I make not mistaken this is corner William/Little Collins? Beautiful building, much better than the Singaporean development around the corner.

I have a few apartments near there too in similar heritage listed buildings. I'd probably sell mine if I had the right price and buy in another country.

 

where would you buy? Don't you need to be a citizen?

 

Different countries have different rules. For example, Japan doesn't have any foreigner requirement. Singapore doesn't as long as you pay penalty stamp duty as understand. I've known many Australians who've invested in Spain, UK, USA.

 

High ceilings compensate somewhat for limited sunlight, and I can't see how comparing your apartment (which has a point of differentiation with the new offerings) and therefore an element of scarcity is helpful

This is low, very fortunate and therefore attractive

My thoughts exactly

Didn't know about this, that makes the already attractive location even more attractive.

 

Unique apartment.
I'd hold.

Unless you have a better investment option and you need the cash.

As they say in the share market, let your winners run and cut the losers.

You're on a winner. Long term it'll always be a good investment. stop reading property articles on the age.com.au

 

If an apartment can do well in a tough market, it can do better in a boom one. And Melb has the highest migration rate currently. If the cashflow is not significantly negatively geared I'd hold. Also do a calculation of return on investment.