Originally posted by ugez009:Australia will soon be a donught after Rio and BHP drill the centre out, once its all gone or chinese people have enough cities Perth will be a ghost town, like Seattle in the 80s.
The only nearly world class city in Australia is Sydney, prices in the center of the city are still low compared to real world class cities London, NYC etc. I believe buying close the the CBD long term you will see great capital growth as Sydney becomes a truly international city within next 10 years.
Anyway, time is forgiving, if you own a property in Sydney over 10 years, you will hit some cycle peak and make money…dont believe doubling every 7 years
Alternatively if you can’t wait a few years that long then forget the Aussie market it rubbish, prices in Riga doubling yearly, look at ascession countries to EU, this is where the smart money is going. Entry level is low.
Just my 10 euros worth
ugez009…what is your criticism of the ‘doubling every 7 years’ theory? I really share your idea of great capital growth in Syd over the next 10 years…although (perhaps unlike yourself) i have no read hard evidence its just a strong gut feeling (which I would also extend to in some areas in Melbourne). Also I am curious…if you could buy anywhere in the world right now where would it be?
