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Discussion in 'General Property Chat' started by skuzy, 31st Aug, 2015.

  1. skuzy

    skuzy Well-Known Member

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    Im not looking to buy these units but interested to hear peoples thoughts/opinions on this to reflect on my own thoughts & learn..

    http://www.propertyobserver.com.au/...own-group-at-green-square-in-high-demand.html

    Starting at $650k 1 bedroom unit @ Greensquare
    - Signs of the state of current property market?
    - Your views of this being an investment & future potential ?
    - what investment strategy for something like this?

    i can only assume there would be a very high strata cost for a building complex like this?

    Cheers
     
  2. Azazel

    Azazel Well-Known Member

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    Looks nice, but could look different from the art when it's built.
    Not for me though. Especially given the drama people have had with 'sunset clauses' or developers modifying the development application and shrinking peoples apartments recently.
    You are probably right in assuming it would be high BC costs.
     
  3. Befuddled

    Befuddled Well-Known Member

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    Didn't the 2bedrooms there go for 1.2m? :)
     
  4. See Change

    See Change Timing Lord Premium Member

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    I think it's a cool looking design .

    My kids are very negative about green square when I've mentioned it in the past . I think it's very centrally located , but I'm not in the demographic their aiming at .

    Might be a good place to buy in a few years if the mortgage bug bites badly for OTP settlements .

    Cliff
     
  5. C-mac

    C-mac Well-Known Member

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    I would only pick up this kind of stock say 12-24 months after it all finishes being built. Id wait for the market then to dictate the values of these things, when so many of them are available at the same time for rent!

    Rents might go down in the short term, which will bring down the value that investors are willing to pay for these units.

    Plus, say two years after build, the immediate builder faults should become known. Then, when strata costs blow out as a result, you will get a more realistic picture of what the strata costs ongoing will reallu be.

    Plus, buying say 2 years after completion still puts you in the best zone for depreciation which is a nice-to-have, too.
     
  6. skuzy

    skuzy Well-Known Member

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    they probably did :)

    In the first post i mentioned 1BR starting at $650k - this is directly off the article if you look.

    :)
     
  7. skuzy

    skuzy Well-Known Member

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    im learning very quick from some posts about OTP purchases.. you just mentioned some which people usually dont think about !
     
  8. Big Will

    Big Will Well-Known Member

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    What are your thoughts?
     
  9. Befuddled

    Befuddled Well-Known Member

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  10. skuzy

    skuzy Well-Known Member

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    well.. fwiw (and its not much)..
    1) market is still crazy
    2) paying a premium here so rental yield would be crap (especially after strata)
    3) iam interested to see what else props up here as a result of this construction .. i cant imagine a place like this being surrounded by nothing but warehouses or factory outlets only
     
  11. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Most likely won't be a stellar investment choice.

    1. Strata will be an absolute killer
    2. Too many units. 1 person decides to rent cheap and your in trouble if looking for tenants same time.
    3. If 1 person sells cheap then that is going to become 1of the first comparable sales valuers will look at when valuing yours .
    4. Paying a massive premium.
    5. No chance to add value whatsoever.

    As an investment I'd rate it 3/10.
     
    Bayview, skuzy and Chris White like this.