Would you still buy inner city apartments in melb?

Not that I'm shopping for one, but have often thought of buying something like a roomy 3 bedroom apartment, different to all the brand new 1 and 2 bedroom dogboxes and may appeal to a family that wants to live inner city. Something built around 10-15 years ago perhaps when developers were more liberal with internal space.
 
Definitely not. Too many apartments that are too small. Not sure if you've driven through the CBD but there's still a lot of towers being built. Stay clear of inner city and look towards the suburbs for growth.

Or if your focus is CF+ well then there's plenty of 5%+ yielding studios/student accom in the city.
 
Inner Melbourne is an absolute joke, you would have to have rocks in your head to purchase there as an investment.
The car park I use at southbank ($8 all day thank you very much) was recently acquired for development. Will easily hold 3 new towers so look forward to that in the next 5 years.
 
Just out of curiosity, why is the pace of inner city development still so high, when the oversupply has been clear for some year's now?
 
Just out of curiosity, why is the pace of inner city development still so high, when the oversupply has been clear for some year's now?

A lot of these apartments are being flogged overseas.

A lot of marketing companies are still flogging it locally.

A lot of people think, "Shinny, must be a good investment".

The Melbourne CBD employs 25% of Melbourne's workforce, a lot of people want to live in the CBD.

It's not hard to get approvals for apartment blocks in the CBD (the hard part is getting the money to develop).
 
Wouldn't buy OTP in Australia, that's all.

Off the plan can work, maybe unlikely, but can. Need to carefully analyse the pros and cons with respect to what you are after/your strategy:

http://www.news.com.au/finance/real-estate/how-to-buy-property-offtheplan-and-the-benefits-and-pitfalls/story-fncq3era-1226854913105

The current state of off the plan in Brisbane and I suspect Melbourne as well is strong:

http://www.news.com.au/finance/real-estate/brisbanes-off-the-plan-apartment-market-is-smashing-all-previous-records/story-fndbalka-1227225990660
 
Back
Top