It is natural for developers to offload to foreign market when they cant sell, but what i found out is a lot of these projects be it high rise or low rise r bought by australians including upper west side, so if these high rise apts are crap to aussies, why they buy? If near cbd apartments like in south yarra n Hawthorne u mentioned are more expensive than cbd, wouldn't it make more sense to buy cbd? Many forummers here r avoidibg cbd like the plague which doesnt really explain how projects get snapped up so fast by both locals n foreigners. Because of upsurge in developments in cbd now also doesnt speak for future unless ppl start leavubg Melbourne in drove which so far, only the opposite is true i read
Studio investment at upper west side in melbourne
- Thread starter kandinsky
- Start date
So invest in south yarra n hawthorn n other suburbs near cbd selling higher in px than cbd? Are you telling foreigners basically not to buy apts n just buy landed? What then is ur advice to a foreign investor? If there r new launches in central south yarra selling at gd px now, i wouldnt mind, but there arent. First ur advice was not to buy studios, then ur advice was to look at suburbs near cbd now u say i dont get it, u may want to advuse based on what i can buy n not what i cant touch. I can only touch developer sales, not resale. If i am not giving thought to what u guys said, I would have signed the contract.
Firstly, how do you know there's a lot of local buyers? The agent (who works for the developer) told you? Hah.
Secondly, the local buyer market is itself broken up in to many segments. What I'm interested in is what the mainstream market is doing.
Thirdly, many foreign people buy land. Just a matter of whether you can afford it. FIRB approval is easy to get. The restriction is how much money you have, not whether you're a foreigner or not.
http://www.theage.com.au/victoria/tower-plan-could-doom-iconic-music-venue-20130705-2ph94.html
Secondly, the local buyer market is itself broken up in to many segments. What I'm interested in is what the mainstream market is doing.
Thirdly, many foreign people buy land. Just a matter of whether you can afford it. FIRB approval is easy to get. The restriction is how much money you have, not whether you're a foreigner or not.
http://www.theage.com.au/victoria/tower-plan-could-doom-iconic-music-venue-20130705-2ph94.html
Yes, as said before, I was one. I sold my apartment in Central Equity's City Point after seven years and more or less got back what I paid. Net yield while I had it after the guarantee expired was about 3% so I was losing money while I owned it with no negative gearing [was UK resident at the time]. Another in the same building sold last year, price representing 2.3% annual rise over 12 years; again add 3% net yield and the owner(s) would probably have been better leaving their money in a bank.
Its not a bad place to invest, youre just choosing baf investments
I can't help but laugh at this thread. You ask us whether you think this particular investment is a good one or not, and when we all say it isn't, you either ignore our advice, or you spit the dummy.
I honestly don't know why you're so adamant on investing in the CBD. While a CBD apartment might make a good investment in other countries, the same doesn't always hold true for Australia. Especially in Melbourne where there is such an oversupply at the moment.
You've swallowed the spruikers' marketing pitch hook line and sinker, when you should have first done your own research and/or invested in the services of a truly independent buyers agent (some can be found on this forum).
You're probably better off losing $6k now than even more in the long run from a bad investment. Yes, an expensive lesson, but a lesson nonetheless.
I honestly don't know why you're so adamant on investing in the CBD. While a CBD apartment might make a good investment in other countries, the same doesn't always hold true for Australia. Especially in Melbourne where there is such an oversupply at the moment.
You've swallowed the spruikers' marketing pitch hook line and sinker, when you should have first done your own research and/or invested in the services of a truly independent buyers agent (some can be found on this forum).
You're probably better off losing $6k now than even more in the long run from a bad investment. Yes, an expensive lesson, but a lesson nonetheless.
Looks like it...whatever the amount!
pinkboy
Sgd vs aud
Aha....well I was hard pressed following some of the strange abbreviations already! I don't even understand English sometimes and it is the only language I know!
pinkboy
U may want to share ur perspectice of a good investment for foreigners? Buy house n land package in suburbs?
ive got some olive tree farms, and some emu farms that you can buy,
its in the CBD of a regional area,
interested?
Yes i may want to or i may not. You are very hard work, it takes you asking a question 20 times before you start to accept that you may be wrong and you get defensive along the way.
So yes, i may want to or i may not.
I guess it could be worth it just to see someone accusing asians of disliking asians again.
This is a fantastic forum full of knowledge, you have been lucky enough to receive a heap of brilliant advice so far that has saved you tens of thousands of dollars in potential losses, id suggest not irritating everyone enough to not be keen to help you further.
Other forumers have contributed constructively n ur contribution has been sarcasm mainly. This is a forum so it is natural for me to probe into things being said by others n coming out with questions n doubts along the way. If discussing n raising queries along the way is defensive to you, suit urself. My questions are valid coz i am not the only one thinking of buying cbd as thousands of aussies hv already done so. If the answer is that clear cut, there would be no need to spill to ten pages. I think you should check ur attitude first before you comment on others. If you hv nothing constructive to contribute, i would rather u keep personal comments to urself.
Also if you claim uws is a bad investment choice by me for a cbd pty, u may instead of just coming up with an empty statement gv a valid example of what u term gd investment to a foreigner in the cbd. Have u substantiated anything u said so far?
Also if you claim uws is a bad investment choice by me for a cbd pty, u may instead of just coming up with an empty statement gv a valid example of what u term gd investment to a foreigner in the cbd. Have u substantiated anything u said so far?
After 50 questions about one studio, the conclusion is Australia is a bad place to invest?
For foreigners it seems. Good stuff bought by locals, n developers sell crap to foreigners overseas, that is the message I got loud n clear....and apts in the cbd are crap for cap gain
Who has been advising you on buying a CBD apartment, a Australian or a local?
Perhaps you should review where your original advise came from and consider where the advisers vested interests lay.
Kandinsky there are other capital cbds which have healthier returns than Melbourne. Have you thought about Perth?
Perth has better yield than Melbourne on average and doesn't have the oversupply of apartments that Melbourne has.
I linked a Perth otp apartment in your price range a few pages ago. What did you think of it?
Perth has better yield than Melbourne on average and doesn't have the oversupply of apartments that Melbourne has.
I linked a Perth otp apartment in your price range a few pages ago. What did you think of it?
Cbd wise, id personally only live in hobart, Brisbane and Perth, I wouldn't want to live in any other cbd
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