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Thread: Apartments

  1. #1
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    Default Apartments

    Thinking of buying apartment for daughter at Auckland University. Yield looks good.Any advice on what to but or what not to buy

    Thanks

    Tim

  2. #2
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    I wouldnt touch the Auckland apartments with a 10 km pole.

    I forecast a crash in the near future for apartments.
    *WONKA & THE CHOCOLATE STOCKMARKET FACTORY*

  3. #3
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    Tim, hold off for now, the coming rise in interest rates will squeese the market ,then do your research well, put offers 20% below(min) the asking price then wait remember NOW its a buyers market CASH IS(AND SHOULD BE )KING>

  4. #4
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    tim,


    don't touch anything under 50sqm.!!!!!!!!!!!

    moi

  5. #5
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    Buy Metropolis. Not talking my book, but this is advice from property guru who made me 100% on property in the last 8 months.

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    Capitalist. Interesting comment.
    Why Metropolis.
    Do they have high body corp

    Tim



  7. #7
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    I don't know about the body corp Tim. My pundit believes these apartments are underpriced for their position etc. If you were thinking about it, he says to offer 100k less than what the seller is asking. It is often ~not~ the distressed seller who wants rid-- a lot of the very wealthy don't really give too much of a damn about the price.

  8. #8
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    Metropolis apartments havent moved in value for 2 years! And the body corp is massive, something like $5k for a 1 bed. Total rip-off in my opinion.

    If you want a funky apartment with polished jarrah floors that oozes character then you can have my 96m2 2 bed in George Court for $400k. mainly owner occupiers in this sought after building. Currently under rented at $450/wk to a mate, avoiding property mngmt fees, but could easily get $500+

    $imon

  9. #9
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    $imon - even at $500 rent per week you would get a gross yeild (before tax and expenses) of only 6.5%. No wonder you are looking at selling it ! Maybe Caps rule of offering $100k below the selling price is right - would bump up the yeild to a more respectable 8.7%

  10. #10
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    If I'm not mistaken, a large canvas used to hang on the side of the Metropolis while the leak damage was being fixed up.

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