I was wondering what everyone here thinks about 99 year leased hold property?
Do they always depreciate in value? Maybe the price will decrease closer to the 99 year expiration date? I was told Russell Crowe's Finger Wharf's apartment is a leasehold, but it was the most expensive apartment in Australia at one point.
I don't want to necessarily make money on this property. I just want to live in it. And if I do sell- I don't want it to sell it at a must lower price than what I've paid for. It is in Sydney's CBD. As far as I'm aware Sydney CBD is undersupplied, we don't have the problem of oversupply like Mel's CBD... Yet? There's only a handful of projects in the CBD atm- Greenland, Barangaroo (also 99 year lease), York and George and a new one planned in Circular Quay.
Given how bad traffic is and not much money is being invested in public transport I think living in the CBD is a logical thing - IMO those problems will only get worst in the future.
Do they always depreciate in value? Maybe the price will decrease closer to the 99 year expiration date? I was told Russell Crowe's Finger Wharf's apartment is a leasehold, but it was the most expensive apartment in Australia at one point.
I don't want to necessarily make money on this property. I just want to live in it. And if I do sell- I don't want it to sell it at a must lower price than what I've paid for. It is in Sydney's CBD. As far as I'm aware Sydney CBD is undersupplied, we don't have the problem of oversupply like Mel's CBD... Yet? There's only a handful of projects in the CBD atm- Greenland, Barangaroo (also 99 year lease), York and George and a new one planned in Circular Quay.
Given how bad traffic is and not much money is being invested in public transport I think living in the CBD is a logical thing - IMO those problems will only get worst in the future.
