[NSW] All units sold at once before selling on the market

Discussion in 'What to buy' started by vsnb, 30th Mar, 2021.

Join Australia's most dynamic and respected property investment community
  1. vsnb

    vsnb Member

    Joined:
    22nd Mar, 2021
    Posts:
    10
    Location:
    Sydney
    Hi,

    I was researching units and noticed some bogus history for a building: all units got sold at once for tens of mil each (according to www.valuergeneral.nsw.gov.au) before being sold to actual people for market prices (500-800k).

    What could this possibly mean? This happened about 5 years ago.

    Thanks.
     
    vsnb, 30th Mar, 2021
    #1
  2. thatbum

    thatbum Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,850
    Location:
    Perth, WA
    It was probably the total price for all the units.
     
    thatbum, 30th Mar, 2021
    #2
  3. vsnb

    vsnb Member

    Joined:
    22nd Mar, 2021
    Posts:
    10
    Location:
    Sydney
    That's what I thought. Is it normal to sell the entire development though? I've never seen this before for blocks of over 30 units.
     
    vsnb, 30th Mar, 2021
    #3
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,555
    Location:
    Sydney
    Meriton ?
    Apartments sold / transferred as a hotel letting ?
     
    Paul@PAS, 30th Mar, 2021
    #4
  5. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

    Joined:
    23rd Aug, 2015
    Posts:
    1,577
    Location:
    Bella Vista
    It was known that developers like Dyldam were selling their finished products to PIA who then on sold the units individually to the Asian market overseas and nott to local buyers back in the days.
     
    Tony Xia, 5th Apr, 2021
    #5
Free Property Depreciation Calculator

Property Investors! Ready to Pay Less Tax? Estimate how much Property Depreciation you can claim on your Investment Property. Washington Brown's calculator is the first calculator to draw on real properties to determine an accurate estimate.