Buying off the plan 2 bedroom apartment in Brunswick

i'm always wary of investing in apartments where there is a lot of stock. with 150 apartments in the building the value of your property will be dictated by others sold in the building. not to mention if you want to re-sell/rent out then you will be competiting with other apartments in the building that are most likely identifcal to yours.

also, consider the body corp costs. is there a lift? pool? gym? this all adds up as well.

Hi Opee,

Rental value would be between $420 and $450 per week depending on size, building facilities and car park inclusions. Brunswick vacancy is small and it's a really popular suburb. I believe the development you're looking at is on Albert Street? – it's a great pocket.

OTP purchases need to suit your investment plan, most clients that buy OTP are doing so to make larger depreciation claims on their tax returns. The days of buying off the plan and selling for profit shortly after settlement are gone due to increased building costs, large supply and the current market conditions.

There are a few developments in Brunswick – One Lygon & Silo Apartments also. There can be a flood of the market but if you've got a good property manager to chase down tenants it won't be an issue, just a slightly longer vacancy than something established. When Viva Carlton settled they apartments were predominantly for lease rather than owner occupied and we listed & leased quite a few where other agents struggled.

With new buildings it's important for the property manager to service prospective tenants well as they have so many properties to choose from – the property manager's level of service then comes into play. If the PM can connect with them on a personal level and promote the property and present a good experience renting with that property manager, half the battle is won. It's just a bit of extra work.

Best of luck with it all!

The nature of property management these days takes me all over Melbourne for clients, we can service all areas of Melbourne however I don't negotiate on fees at all for properties further away simply because I couldn't afford to effectively manage them.

We have Burwood, Hawthorn, Toorak, Springvale South. When leasing a property in the area I contact agents I know for potential tenants they have on their books. Also our research shows a majority of our tenants come from seeing the listing on the internet and it's only a small minority that actually walk into our office looking for property.