澳洲Australia property Anyone buying 'off the plan&


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'Off the plan' in Perth?

Just wanted to gauge how many people are buying and what are the thoughts on securing an OTP apartment now in Perth (settlement in 1-2 years time)? Good investment or not?

Also 1x1x1 vs 2x2x1...  

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Tyro said: ↑
Just wanted to gauge how many people are buying and what are the thoughts on securing an OTP apartment now in Perth (settlement in 1-2 years time)? Good investment or not?

Also 1x1x1 vs 2x2x1...Click to expand...
Dangerous strategy at the moment as I think there is currently an oversupply from what I have read, been told.  

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Not in all areas Marisa.

I would advise any prospective buyers to exercise caution but that is always the case.  

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Answer is no one knows but wait in 2 years time and I will get you my crystal ball.  

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i bought a 2x2 apartment on medina parade in port coogee overlooking the marina, beach and ocean. its our down sizer pad, its a small block of 34 units.  

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jerrym said: ↑
i bought a 2x2 apartment on medina parade in port coogee overlooking the marina, beach and ocean. its our down sizer pad, its a small block of 34 units.Click to expand...
IMO, a 2x2 overlooking a marina is an entirely different prospect to a 2x2 in the back blocks of Cloverdale - not even walking distance to the shops.  

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A bit more info required:

Suburbs your looking at?
Developer?
Size of complexes?
What sort of numbers ie price, rent, strata fees etc

Cheers  

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Very dangerous indeed!

I would be ok with select H&L packages at the lower end of the market...but apartments...are dangerous....I would much better off swimming with Bull sharks.

In Sydney...I am seeing all these young PYTs buying 55sqm 1 brm apartments for 550k and 75 sqm 2 brms for 700-800k like it is going out of style. I plan to buy if off them for less than 600k for 2brms once the oversupply and defaults depress prices. :D

MTR said: ↑
Dangerous strategy at the moment as I think there is currently an oversupply from what I have read, been told.Click to expand...
 

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HD_ACE said: ↑
A bit more info required:

Suburbs your looking at?
Developer?
Size of complexes?
What sort of numbers ie price, rent, strata fees etc

CheersClick to expand...
1. Around the City perimeters: East Perth, South Perth anything accessible to the waterside projects, except Rivervale I can see the oversupply there by the no. of signs!

2. Not sure. I don't like Finbar, have bought from them before - dodgy plumbing and very thin internal walls...

3. Obviously I prefer <12 but would be very hard to find, so I look at the overall quality of development and location

4. Looking at 2x2x1 for $620k to $650k (also how does the no. of car bays impact on resale). Rental market will change by the time it is finished so I wouldn't want to speculate. Low Strata - $1000/qtr (no pools/gyms etc).  

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sanj said: ↑
Not in all areas Marisa.

I would advise any prospective buyers to exercise caution but that is always the case.Click to expand...
Yes agree.

My point really is the Perth market has been rising for the last 2 years, when buying OTP one needs to be jumping in the early stages not when the market is close to peaking. Apartments were flying out the door 18 months ago, and they have also risen due to demand. I don't see this pent up demand at the moment, or have I got it wrong?

It would possibly take 18 months to 2 years for completion, this is a risky proposition at this stage, it wont be any fun if the prices fall back and you can not finance the deal.  

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Tyro said: ↑
1. Around the City perimeters: East Perth, South Perth anything accessible to the waterside projects, except Rivervale I can see the oversupply there by the no. of signs!

2. Not sure. I don't like Finbar, have bought from them before - dodgy plumbing and very thin internal walls...

3. Obviously I prefer <12 but would be very hard to find, so I look at the overall quality of development and location

4. Looking at 2x2x1 for $620k to $650k (also how does the no. of car bays impact on resale). Rental market will change by the time it is finished so I wouldn't want to speculate. Low Strata - $1000/qtr (no pools/gyms etc).Click to expand...
At that price bracket I will be biased and say to go to a small development rather than a massive building which will cause it's own glut.
I am developing a small apartment building in Highgate because I feel it's uniqueness can overcome the potential glut that may happen in the Perth CBD.
That price bracket would buy you a very nice 2 x 2 plus study in my building.  

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westminster said: ↑
At that price bracket I will be biased and say to go to a small development rather than a massive building which will cause it's own glut.
I am developing a small apartment building in Highgate because I feel it's uniqueness can overcome the potential glut that may happen in the Perth CBD.
That price bracket would buy you a very nice 2 x 2 plus study in my building.Click to expand...
WM
I think your product is very desirable, smaller block, well located in blue chip inner city area with high demand/high rent.

This will mean less risk and I would say good chance of continual growth as there is a demand for this.  

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Im obviously biased too but i do agree with Myf and Marisa.  

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