I stopped finding IPs previously for some reasons but I've resumed. I'm looking for some units or apartments for my first IP or PPOR.
There are a lot of OTPs being built in Rhodes. It seems to me that the area would be further developed with community facilities, parks, transport, etc. according to the website of the local council. I reckon the location is quite decent except it was an industrial area and the contaminated Parra. river. It's close to the railway station, shopping centre and business parks; 30 mins to the city by train; Olympic park nearby; relatively safe area. It is also expected that the demand of this type of dwelling would continue to rise over there. All these factors are good. However, it ain't cheap. An 1 bedder + 1 study OTP with a car space could cost over 570k.
My concern is the capital gain. I'm wondering if the demand is so high to digest the vast amount of units. There would be more apartments to be built in Wentworth Pt. as well.
Is it worth to buy OTPs in Rhodes?
Thanks a lot
There are a lot of OTPs being built in Rhodes. It seems to me that the area would be further developed with community facilities, parks, transport, etc. according to the website of the local council. I reckon the location is quite decent except it was an industrial area and the contaminated Parra. river. It's close to the railway station, shopping centre and business parks; 30 mins to the city by train; Olympic park nearby; relatively safe area. It is also expected that the demand of this type of dwelling would continue to rise over there. All these factors are good. However, it ain't cheap. An 1 bedder + 1 study OTP with a car space could cost over 570k.
My concern is the capital gain. I'm wondering if the demand is so high to digest the vast amount of units. There would be more apartments to be built in Wentworth Pt. as well.
Is it worth to buy OTPs in Rhodes?
Thanks a lot