- AdilParticipant@aztalatJoin Date: 2016Post Count: 1
Hi all, happy new year!
I’m currently looking at an apartment as a potential investment, in Melbourne approx 25km from the CBD.
The property will be negatively geared but I am considering it mainly for its equity potential; the apartment is in an area that is walking distance to shops and parks and is in close vicinity to schools, public transport and a hospital. It is also the only apartment development in the suburb where land is already scarce.
It looks to tick all the boxes, the only factor I’m concerned about is being that the property at the end of the day is an apartment which may limit equity growth.
Keen to hear other’s thoughts.David HallParticipant@wiggles2Join Date: 2014Post Count: 66
You are looking purchasing in a falling market, where there is a lot more supply currently under construction. A lot of the pre-sales for these new builds are going to fall over, causing more downward pressure on apartment prices.
Being patient will lower your purchase price and increase your yield.
There is better to be had in other markets at the moment.
- This reply was modified 1 year, 5 months ago by David Hall.