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You talking about unilodge? They struggle to sell. We developed a building many years ago in around the early 90s. These apartments sold for around $120k. To think they'll sell for under $500k today, it's probably not a very good return for investors.

Why's that? Just too much supply? I always knew the market was tough, but didn't imagine it'd be this tough considering it's a booming market everywhere else now.

Interesting you say that. We've always land banked within this area while the developers have been building garbage outside. There are some developments that have fallen in value in this box though.

Victoria One seems decent quality, haven't looked into it enough. But Jeff Xu seems to build better stuff and tailors towards the higher end, like Victoria One and Sheraton on Little Collins St. Even his businesses are relatively higher end, say Hutong in Chinatown or Mantong in Crown.

No car parks. if you want car park plus another 50k or so. Also the second bedroom doesn't have windows. Also not 75sqm. More like 58~62sqm. But hey, some people like to lose money. Why stop them?

In Melbourne, most of the Upper West Side apartments sold probably last year? A 2-bedder 1 bathroom for $500k, with government benefits. I wonder if you can sell a second-hand Upper West Side apartment for $500k any more given it's no longer new and the government benefits are gone. In the same...

This happens all over Melbourne. Not sure what you're looking at. Not so much Sydney.