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Thanks for all your replies so far.. greatly appreciated. It is a tricky one.. You still get to use the carpark and have 99 years access and im sure you can probably re-negotiate the 99 year lease with the body corporate when needed. I haven't come across this kind of situation before but i feel...

What sort of discount would you expect? 5% of what it would be worth with a carspace on title?

It appears to be a more common practice coming in. Just wondering if people think this affects a) property value and b) re-sale value?

Just a side note to this. Wondering if people on here believe something like this could potentially affect the resale value of the apartment, even if it is above 50sqm. For example if it was a 99 year lease and it was to be sold in 40 years time with 59 years left on the lease? I know I'm...

I guess it comes down to size sometimes. Most vic banks require minimum 50sqm which can be inclusive of carspace and balcony, so by not having they car space on title and if the apartment is say 45 sqm, the leased car space means you fall below the 50sqm

Hi all just wondering if many people have come across these? I have seen a few recently. The apartments are strata titled and advertised as having a car space. On inspection of the contract of sale, the car spaces are not actually on title, rather on 99 year leases which gives you exclusive...