Hi, just after some advice and opinions from people on here.
I have approx $500,000 which I am looking to spend on an investment property in inner melbourne, and are trying to decide between the 2 options.
A) 2 bedroom apartment in a suburb such as st kilda east/prahran/elwood, an older apartment in a small block
B) Newish townhouse in Maidstone, 2-3 bedrooms
Both would have rental yields of between 4-5%
Areas such as prahran and st kilda east have had very good capital growth, however I feel perhaps Maidstone may grow more?
My goals are to hold long term and capital growth
I have approx $500,000 which I am looking to spend on an investment property in inner melbourne, and are trying to decide between the 2 options.
A) 2 bedroom apartment in a suburb such as st kilda east/prahran/elwood, an older apartment in a small block
B) Newish townhouse in Maidstone, 2-3 bedrooms
Both would have rental yields of between 4-5%
Areas such as prahran and st kilda east have had very good capital growth, however I feel perhaps Maidstone may grow more?
My goals are to hold long term and capital growth