Has anyone had any exposure to apartment investing in Brisbane CBD. What are the occupancy rates like can you make any money, capital gains etc. Thanks
GerryGerry,
Make sure you speak and see the rental lists of agents leasing out various inner city apartments. Go there as if you are a tenant and see what they have available. This will give you an indication of supply.If you really, really want to purchase an ICA, I would suggest you get a sworn valuation before you make an offer.
I think it is much harder to pinpoint a price on apartments (especially the choices, styles, internal fit-out, designs etc) compared with a normal home.
Whilst they may have already sold 80%+ to have construction commenced, don’t accept the prices paid for a year or 18 mths ago are still relevant today. Low ball, low ball.
James
Thanks for the information, the figures I received were a bit of an eye opener, $19000 profit if both apartments are booked 100% of the time at $540 per week (combined). The unit cost is $330000 approx and the repayments on that could be $27000 per year. Depreciation may square it up a bit but you would not want to many empty weeks. Gerry
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