Ask Michael Anything [video] – Where is best place to buy an off the plan apartment?

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

About Kevin Turner

Kevin brings together leading authorities on the property market in his weekly Real Estate Talk Podcast. Visit www.RealEstateTalk.com.au

'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

Reply
- 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
  
  Reply
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?

Reply
- 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
  
  Reply