VIC Off-the-plan apartments in inner Melbourne?

Hi! Wondering if anyone here has found it difficult to sell an apartment in inner Melbourne that they bought off the plan a few years ago, given the reports of some resales being at a lower value?

Or, are any buyers looking for a bargain apartment in the inner city, that was sold off the plan a few years ago and now might be cheaper?

I'm a journalist and am keen to hear your thoughts - feel free to send me a private message if that's easier.

 

The issue is that most of that stock is targeted at foreigners. They can only buy new, qt least legally...so what then happens when it isn't new? Foreigners can't buy it and there is low local demand. ... All the while high competition from neighbouring similar properties (high supply). Taking out buyers in the market whilst having high supply = bad news when it's time to sell.
Fortunately though, times are changing and more local demand for these non otp inner city apts...however, it's a slow and gradual process. Same trend in most cities. Sydney would be most advanced in this trend, then Melbourne, then Brisbane.
If you are looking at long term holds eg for another 20 years, yes you will be fine. No doubt there..as long as it's fairly spacious and well built..and assuming location is great as this is the prime selling point of most of these...But certainly not in the next 5years or so with all the new supply - the demand had not caught up with supply nor will it in 5 years, likely more.