I agree if buying anything apartment wise or off the plan make sure it is Low to Medium density and has something special or unique about it. Make sure there is some land component in the project. Buy one of fewer apartments, not one of many ie. “less is more” remember “land appreciates buildings depreciate”.

Regards,

Hi Draygun,
I have had some experience personally and with family buying and selling property from St.Kilda Brighton, Hawthorn, Frankston and Rye on the Morning ton Peninsula. My sister-in-law had purchased a house in The Pines area of Frankston North about 15 years ago. She moved to the UK so asked the question should she keep the property and rent it out or sell. Initially she kept the property and rented it. after a few hassles with tenants and a strong lift in prices around 2007/2008 we decided it would be better to fix up for sale as we didn’t see much upside in prices and she could use the equity to buy a house in the UK (where she still lives).
The property was sold for $260,000 which is probably not far off what it was worth now.
I would prefer Frankston South, Seaford or Carrum Downs to Frankston North for better capital gains and less hassles with tenants.
It sounds boring but the reason for the difference in performance is demand V supply both for rent and capital growth.

Also bought a place at Rye Back Beach in 2000 renovated it in 2006 and sold it in 2012 for 3 times what we paid for it based on the same philosophy that house prices had peaked and you never go broke making a profit.

Hope this helps and let me know if I can be of further assistance.

Regards