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Thread: Apartments

  1. #41
    FEAR n GREED JBmurc's Avatar
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    JBmurc: You don't know what you're missing!
    if your mean missing in auckland i liked to know[?][?]
    -if its veiws i don,t think so the top of queenstown hill got pently
    -if its restaurants&nightlife i don,t think so 100+
    -if its things to do ADVENTURE CAPITAL RING Any BELLS.
    -if its millions of people&shops yeah we don,t have that but a least twice a year i cach a 5min taxi & 2 hour direct flight to syndey to get my rat race fix .
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  2. #42
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    how has this topic shaped up recently...

    whats the story now??

    wait?

    some good deals coming up?

  3. #43
    Senior Member Halebop's Avatar
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    In Auckland supply is still pouring out from developers. As apartments are largely bought by investors and immigrants and largely occupied by students and immigrants it will be sensitive to interest rates and immigration.

    I'm not real hot on this sector but for my money I'd wait until you are reading about developer bankruptcies and reckless supply and lending practices. There were quite a few bargains around during the previous apartment slump and I don't think we are there at the moment.

  4. #44
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    We have plenty of land and a small population, so why live in apartments if not to keep up with the trend from watching American TV shows?
    This stock shines so bright that it \"Bling Blings\"

  5. #45
    Senior Member Halebop's Avatar
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    Until very recently I lived in 2 different apartments in Auckland's CBD and I loved it. Both were quiet and spacious character apartments in very central locations. The 5 minute walk to work was my most taxing commute. It had close proximity to everything I do regularly - art galleries, movies, restuarants, work. ...and I actually saved money living there because I no longer needed a car.

    We now have a cat so that precludes apartment living but I'd go back to it in a moment otherwise.

  6. #46
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    The Cat as a factor in lifestyle choice Halebop - indeed it's a reality.
    Paper Tiger will be pleased.

  7. #47
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    Hi WSheridan

    Re Metropolis

    There was a two bedroom apartment advertised on the 26th Floor

    How does one establish a value for it ?
    What are the Corporate fees ?

    What is the availability of carparking?

    Would you live there ?

    Cheers

    Peter

  8. #48
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    PETERAFAJ, establishing the worth of a property is easy especially an apartment. It all reverts to mathematics. 10pc deposit and lever your position with 90 pc finance. Will the rent cover all out goings or not?. If the answer is not then the price is to high. A lease or gov tenant is best. If inflation increases your mortgage then the rent goes up and the value goes up so inflation is great if you remember to have enough behind you to cover the short term increase. Since house and apartment prices increase at lets say 10 pc pa on average you are on a winner if you buy right useing other peoples money and only pay the interest. Been there done that its a dopes way to get rich. best of luck macdunk

  9. #49
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    quote:Originally posted by Bling_Bling

    We have plenty of land and a small population, so why live in apartments if not to keep up with the trend from watching American TV shows?
    You obviously don't live in Wellington[:0]

  10. #50
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    This is when property gets fun, all the emotional purchasers of the last couple of years who took "leverage" a couple of steps too far suddenly get put under pressure. Lets face it the general population ain't to bright, they are all fixing even while Mr Bollard and most other economists who are reasonably in the know are saying that this will be the last rate rise.
    Personally i believe now and for the next two to three years is the best time to be looking, auction sales are down,the time to sell is rising and the general media is predicting doom and gloom.
    I don't believe there is ever a good or bad time to buy, only a good purchase, a couple of posters on this site said it, if you manage to purchase a good quality apartment for 15%+ undervalue i don't believe you can go wrong. There is so much Sh#t being put up in the city that you will survive and prosper. In the two and a half years that the company i have worked for has been there, there have been five apartment buildings go up and all of these have been boxes.

    Just remember that several things are being looked at:

    1. The government will make sure that some changes are made relating to depreciation
    2. Apparently the IRD are looking into people who have sold 5+ properties in the last two to three years even if they have resided in them(don't know if this is true but came from a good source)
    3. Long-term i have been told that stamp duty may come in. I have a guy who I trust who does quite a bit of asset planning for some of the people spoken about on this site and he specialises in property. I asked him if he could see CGT being bought in and he said no but he did believe that stamp duty would come in at some stage. Again only an opinion but make sure your calculations aren't too tight.

    I'm personally still focusing on home and incomes at the moment which need some cosmetic detail fixed up as i believe that i can get both the cashflow and the gains that i'm after

    Good Luck

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