Apartments

[Gryffyn]

Have a look at Phoenix on Grafton if there are any available!

[Lawso]

What sort of prices, Cap?

[Capitalist]

Thanks Gryffyn--I'll take a look at those. Lawso, the 2 bedroom ones were about 700k. There is no way I would be paying that. If I was to put in an offer if would be for 200k less than the asking price.

[Lawso]

Agree 700k is too high. At 500-550k I could be interested.

[willy_wonker]

quote:Originally posted by Capitalist

Just been to look at Metropolis...the 2 bedroom apartments are bloody palatial, with great views.Even the studios are good. Buy in gloom

There will be plenty of gloom to come.

[donner]

Does anyone know what a deposit bond is? and where can I get one?

Donner the developer of the property can usually tell you if any one is issueing deposit bonds on his projects. They are getting pretty hard to get in australia at moment. because of the glut and falling apartment prices. to best of my knowledge. hope this helps.

[JBmurc]

[?]wouldn,t live in auckland if ya payed me [xx(]80sqm units for 400 odd grand[xx(][xx(] the internal garage in the house i built&sold in queenstown 5brm,3bath was 70odd sqms[:0] whats in that water u guys drink [?] 6%returns[xx(]interest rates on the up[xx(]capital grow for aucks 5/8 or F all[?]

[Lawso]

aspex

You misunderstand me. I'm no property punter. I'm quite heavily into PFI and KIP and comfortable with both. Also got LPTs in Aust. It's my preferred form of investment in property - OK income, modest growth, while I look to other stocks for, hopefully, capital gain.

Was only once ever a landlord. Never again. I could be interested in Metropolis or other apartments only if and when I've sold the waterfront apartment I live in.

JBmurc: You don't know what you're missing!

[JBmurc]

yeah for a safe investment PFI-KIP are a great way to invest in property as are other LPTs-INVESTED in KIP yrs ago sold 1.04 divs good.
but for me i don,t mind taking the risk of building&selling or holding property the gains can be huge last yr 500% this yr looking at a 150-250%return on money invested in company

[JBmurc]

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 .

[halcyon9]

how has this topic shaped up recently...

whats the story now??

wait?

some good deals coming up?

[Halebop]

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.

[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?

[Halebop]

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.