I'm actually an overseas investor, buying it as a hedge against future AUD appreciations against my currency as well as property inflation in Australia. Intend for my daughter to study in Australia, but looking at soaring prices of houses in Melb, decided not to wait til she hits the uni years before buying in
We'll worry about what to do with the unit if she has other plans in the future!
The unit we're looking at is Viva Carlton, and yes, I believe that most of the tenants would be students in Melb Uni given it's close proximity to the uni.
I can't buy second hand properties as we don't have PR, and don't intend to get it in the near future.
Incidentally, we used to have a unit around the same area in Carlton...oh, 10 years ago (yeah, long time ago!), which was double the size and half the price
Just hesitating a little cause we're a little bitter that prices have gone up so much, but we do like the area...and wanted to see if everybody here thinks it's a fair price to pay...