Property Investment in Melbourne CBD



From: Day Dreamer

I wish I found this wonderful world of property investment years earlier. Anyway, better late than never. To all you gurus at this forum what are your opinions of purchasing investment apartments in the Melbourne CBD as opposed to buying in the surrounding suburbs such as Richmond or St Kilda.
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Reply: 1
From: GoAnna !

I am no guru but my opinion for what it is worth is that I would steer clear of CBD. The rents are high, the growth has been low and you have heaps of competition. Also many of the high rise buildings have very high body corporate fees due to the lifts, pools, gyms etc.

And with the current building planned there may be a future glut of apartments. maybe.

I have had no problems with my flat off Bridge Rd Richmond over the past 12 years. I do not personally have any experience of St Kilda but it is certainly a popular rental area and offers that funky inner city lifestyle, water and easy access to city.

GoAnna !
(aka Anna before she got real)
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Reply: 1.1
From: Samantha Lind

A general rule I like to follow is to stay clear of any CBD for the exact reasons GoAnna mentioned.
St Kilda is good, but go a little further along, a suburb or two and that's where you might find a good bargain with larger and quicker growth - in my humble opinion.
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