Hirise in Brisbane CBD

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From: Lars Andersson


I have been looking at a unit in a hirise in the CBD of Brisbane. Just wondering what the general opinion is on such a unit for investment.

The particular unit I am looking at is an a building called River Park Central, it currently has a view over Botanical Gardens but this may eventually be built out as there is just a parking lot in front of the building. The real value of the unit over the long term is its location, is this enough to get tennants and to get capital growth?

Lars
 
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From: Dan D


Lars,

As a casual observer of inner city apartment development, I cannot declare to be an expert.

But I've been reading many times in the local newspaper and other property related publications that Brisbane CBD is threatened with an oversupply of apartments in the near future. Do your research carefully, as always before committing.

Dan.
 
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From: Tibor Bode


Lars,

I am an investor in Brisbane, but avoid unit for 2 reasons. Firstly, as Dan mentioned it is very easy to provide an over supply (and you just can't do a damn thing about it) the other that there is too much competition (too many people try to let it out at the same time) and not much difference (uniqueness) among the apartments. Also might worth to read some of the local independent expert opinion about the supply demand situation (HTW, Matusik Insight, RESIDEX QLD report just to mention some).

Tibor
 
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