Metropolis is fine if you like living in a hotel with very small rooms. I personally wouldn't want to stay there more than a few weeks.
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Metropolis is fine if you like living in a hotel with very small rooms. I personally wouldn't want to stay there more than a few weeks.
You need to move out of the cheap seats simon. There are some very large apartments there as wellQuote:
quote:Originally posted by $imon
Metropolis is fine if you like living in a hotel with very small rooms. I personally wouldn't want to stay there more than a few weeks.
OK folks, besides Metropolis, what are considered some of the good apartments that one should look at??
Soho Apartments are quite good. Central and solidQuote:
quote:Originally posted by CAM
OK folks, besides Metropolis, what are considered some of the good apartments that one should look at??
With metropolis, are we talking an investment or to live in?
The yields must be fairly average to poor, especially once you add in those monumental body corp fees. And as previously mentioned, capital growth hasn't moved, at least for the little ones that I have been looking at. In fact the entry level price appears to be slightly cheaper than when I looked back in 2002!
To get any half decent sized apartment with a carpark there, you would have to spend some big pinga's. Much better places to stash $ in my opinion. Happy to be proven wrong though, I just don't see value for money.
cheers
$imon
Unlike residential or coastal property, there is plenty of scope to make more apartments. Price rises tend to be short-term blips when demand temporarily exceeds supply or just the cost of building rises as those resources are in demand.
Easy to have large flat spots in market as per Metropolis etc.
Plenty of horror stories about the guaranteed returns for 2 years etc but after that low occupency or reduced rates + high body corp.
Better and more stable investment in commercial property. Much better class of tenents.
Or in listed property trusts/companies - KIP etc.No tenants, no hassles, no mortgage, steady income - admittedly little capital gain, but one can find that elsewhere if that's what you want - your own home and growth stocks like FPA.Quote:
quote: Better and more stable investment in commercial property. Much better class of tenents.
In property investment, I know which I prefer.
I own a one bed apartment at Metropolis with a carpark, paid a fortune for it. I really bought it on impluse and the view and the fact that I am still a bachelor who like a bit of a nite scenes. I would be much better off if I had bought a property with land aye. But then again, I had fun while I lived in it. At the moment, rented out as a corporate apartment. Return is so so la.
Where is the demand the most, for studio, 1bdr, 2bdr. Is a car park impt for resale.
A view impt?
Thanks for your thoughts so far.
Just been to look at Metropolis...the 2 bedroom apartments are bloody palatial, with great views.Even the studios are good. Buy in gloom :D