Years ago, we all laughed at people who bought properties in Rowville. It was one of the least developed areas, far away from CBD and inconvenient transports. Common sense would have suggested it was a crappy place to invest in.
Then Asian migrants moved in big time, pushed local school’s academic rating and with man-made lakeside built, the property prices over the year has gone well over 1.2M.
With a train line to be built (hopefully) and shopping centres opening up there, who knows what it will be in the next a few years.
Damn… it was right under my nose and I missed the boat :(
there will be more boats.
the moral of the story is buy a problem sell a solution
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
I guess in this instance, it is a case of a bit of “foresight” is needed.
Even the Asian migrants were initially unwilling to relocate to that area, because the infrastructure is so poor and transport is so inconvenient. Most of the Asian migrants, prefer traditional “starting suburbs” such as Springavle due to the maturity of Asian supermarkets and Asian grocery stores.
Rowville was considered to be “in the middle of nowhere”, and Asian migrants were very relunctant to go there until one day, they just went.
Who would have thought they just suddenly flooded into that area for what appears to be no reason at all.
There was a reason, it may be a reason that is different for each person, but their is a reason for everything happening, for e.g. I have no idea why, but maybe a few of the families moved there when it was cheap, then their friends and family didnt mind the area, then a developer got wind and realised he could build it to target that demographic then the flood gates came as more and more wanted to move into that style of area.
(no idea if this is what happen, but I would say its an ok unstudied guess)
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
I guess you are right.
But that kind of reasoning sounds more like “speculating” based on the seminars run by experienced investors that I have been attending. I am pretty sure they will call that “speculating” rather than “investing”. They can always say “what if Asian migrants never choose to move into that suburb”.
Those experienced investors are more into the strategy of choosing already well established or developed area rather than investing an “under developed area that Asian migrants will move into in the future”, which was the case for Rowville.
Everything is speculation and then implementation….
And Also it was strategic none the less, we create things, if I invent time travel to make money I am speculating it will be profitable, everything is speculation until it is done. Nothing is guaranteed except for Death and Tax’s.
Jaxon | Jaxon Avery – Financial Adviser
http://www.jpafinancialservices.com.au
Email Me | Phone MeJPA Financial Services Pty Ltd
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