Hi Cutegirl,

If you thinking to have an investment property in Melb CBD, you should avoid the serviced apartment or student accomodation types of apartment unless you have reasonable amount of money to cover the deposit.

There are a lot of CBD apartments in melbourne that have very tempting rental return and are not under service or student apartment agreements. eq. Franklin Lofts in Franklin St (near Victoria Market, RMIT, & Melb Uni) where 1 BR apartment can give about $300 – $345 a week. According to many agancies, this area has 0 rate of vacancy for that rental price, this fact is backed up by some overseas students and professionals who are looking for apartment to rent (hard to rent an apartment in that area).

It is very tempting, isn’t it ? But you also have to consider about the cost of body corporate and strata insurance which can cost you about $4000 a year.

If you are interested to buy, don’t forget to write down property manager name & phone number when you inspect the apartment because he knows who is the owner so you can deal with the owner directly and get better deal.

cheer

ayr007

Hi

It is true Surrey, however there are more cost involve with such as building insurance, conveyancer (solicitor), mortgage insurance, etc.

regards