Inner city character apartments - Perth

[Alex P Keaton]

Formerlurker: what made you think of Joondalup vs inner east (not city) units such as burswood / rivervale / mtlawley / inglewood? I'm buying in these areas as I believe people who want to live in units are generally single people or kidless couples - most of whom work in the city.

When I get some spare time I will definatly be looking in the inner east corridor though -

I like inner east too.

Especially Dianella, Yokine and surrounding areas

For my next buy in 2012 I'm looking at villas in Dianella in the price range of around $320 K - $350 K with a view to turning it into my ppor sometime in the future.

 

[jaycee]

So who the hell is buying the inner city apartments ?

 

[FormerLurker]

So who the hell is buying the inner city apartments ?

Overseas investors in a big way - the largest inner city apartment development atm (hint it's built over what used to be hoyts cinemas) has a massive proportion of overseas investors (primarily South African).

 

[Alex P Keaton]

Here it is

http://www.realestate.com.au/property-apartment-wa-mount+lawley-106538299

$560 K

 

[MTR]

I know you are right expensive, but these apartments always sell well, location excellent and great character.

I guess you will always be guaranteed growth, just need deep pockets. Be interesting to know what rental return is.

 

[jaycee]

MTR, do you mean as an owner occupier ? What are these like as rental IP's ? almost 200k out of my budget lol

 

[gooram]

$560 K

I think you're paying for the courtyard, that's pretty rare for an apartment. I looked at renting one of these a few years ago, from memory it was around 350pw, but it would be more like 450 now.

Compare this with a 2x2 in the city for 40k less:

http://www.realestate.com.au/property-apartment-wa-east+perth-106518627