There has certainly been no shortage of off the plan apartments lately – but are they a good investment?
And if you were to buy this type of property where should you buy it?
This week watch Michael discuss the pros and cons of buying off the plan properties, particularly in apartment oversupplied suburbs.
This week’s question:
Hi Michael
What would you say about buying an off the plan apartment in Cheltenham or Moorabbin as an investment property?
Which area has more potential?
Irina
You may want to read: What Every Property Investor Needs To Know About Buying Off The Plan
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'Ask Michael Anything [video] – Where is best place to buy an off the plan apartment?' have 4 comments
October 28, 2016 Bob West
Hello Michael
Have asked this question before, so must be a hard one. We purchased 4 properties in Cairns after a long deliberation (2 to 4 years ago), we believed the market had been down long enough. But getting information other than Sydney and Melbourne is very difficult. Do you know where I can get some stats?
Kind regards
Bob
October 28, 2016 Michael Yardney
Robert – nothing has changed – Cairns is not an investment grade area and the fact that you’re having difficulty getting stats confirms it’s not a significant market. Again a reason why we avoid it
October 27, 2016 Rebecca
Hi Michael,
Can I ask if the property in Rosanna or Eltham (Melbourne) are good suburbs to be invested? Which one is better? I only got 800K – 900K budget. Or any other suburbs have good potential?
October 27, 2016 Michael Yardney
Rebbeca
I’ll answer this in a future video – but the answer is it depends – there are some good pockets in both locations but neither are on my radar