Central Park, what a rip off!. 580k+ for a 43sqm studio, and 650k for a 62sqm 1bedroom (all with no parking). Must be all marketed to us Chinos (yes its Spanish for Chinese!).
My question is; Is there any potential for Central park to lift up the prices of other, slight older (but still relatively new) quality complexes in the neighbourhood?
400m down the road, there is a 70sqm 1 bed+study asking 500k+. Built by Australand 10yrs ago:
http://www.realestate.com.au/property-apartment-nsw-ultimo-115566123
400m up the road, there is another similar sized property asking 599k+ (they list it as 2 bedroom, but it is also a 1 bed+study) but this has parking. Built by the Oaks group:
http://www.realestate.com.au/property-apartment-nsw-haymarket-115509067
I think both these options would give as much rental income as the Central Park properties but don't come with the depreciation benefits of a new property? But i don't see much capital growth at Central Park for years to come...Eventually the other complexes will converge in price (one way or another)
My question is; Is there any potential for Central park to lift up the prices of other, slight older (but still relatively new) quality complexes in the neighbourhood?
400m down the road, there is a 70sqm 1 bed+study asking 500k+. Built by Australand 10yrs ago:
http://www.realestate.com.au/property-apartment-nsw-ultimo-115566123
400m up the road, there is another similar sized property asking 599k+ (they list it as 2 bedroom, but it is also a 1 bed+study) but this has parking. Built by the Oaks group:
http://www.realestate.com.au/property-apartment-nsw-haymarket-115509067
I think both these options would give as much rental income as the Central Park properties but don't come with the depreciation benefits of a new property? But i don't see much capital growth at Central Park for years to come...Eventually the other complexes will converge in price (one way or another)
