The general problem or negatives with high rises is the fact that there is no limit to how many places can become available. If you buy a great apartment in the 'new 40 story' tower then that is great now but in a few years time there might be another 'new' tower that is 50 stories high. Suddenly your place isn't looking so appealing.
This can be bad when it comes to your apartments value as when prospective buyers come along they are faced with the option of buying a brand new place that is bigger than yours and only slightly more expensive. You might think this is ok if you don't intent on selling your property but the problem is that there will always be other people in your tower who will want to sell their apartments and they will often be forced to drop the price well below the price of the newer apartments. If this happens then the 'paper' value of your place will drop accordingly as it is directly related to comparitable sales.
Best of luck
Cheers
Banjo Smyth
www.SharesPropertyMoney.com
This can be bad when it comes to your apartments value as when prospective buyers come along they are faced with the option of buying a brand new place that is bigger than yours and only slightly more expensive. You might think this is ok if you don't intent on selling your property but the problem is that there will always be other people in your tower who will want to sell their apartments and they will often be forced to drop the price well below the price of the newer apartments. If this happens then the 'paper' value of your place will drop accordingly as it is directly related to comparitable sales.
Best of luck
Cheers
Banjo Smyth
www.SharesPropertyMoney.com