If you wanted to buy vacant land in a new subdivision to build on in WA for the last few yrs, you had no choice but to buy OTP.
It was that, or miss out as everything was selling during a release, way before the land was developed as well as before titles were issued.
We would have made 90% of all purchases as OTP buys in that time, whether it was apartments or vacant land.
If I was speculating I would have bought in multiples using the very low deposits required.
But we were buying with the intention of building on every vacant block ( which is what we did) so we only bought as much as we could reasonably afford to settle, even with lead times of 12 months or more before settlement.
Every purchase was based on due dill to show 20% margin for each H&L we built, and the additional increase in land value ( usually 100%) was just a bonus that was not 'planned' for.
Nothing wrong with OTP purchases from my experiece.
kp
