Aussie property developers - central equity?

[Solar]

just met a casual friend who returned from austrailia for holiday..

 

apparently, he bought a property via this company called central equity during a roadshow in sg a couple yrs back for about A$350k.. seems like it has appreciated to some A400k now (and its just empty plot of land).. but he's going to rent it out for A$2k/mth when the house is scheduled to finish building by Q4 this yr..

[Chinaski]

I bought an investment property from Central Equity last year on the Southbank (Melbourne) right next to the Casino. Will be complete this month. Deferred payment, 10% down, remainder on completion. As a foreigner buying off plan, you get a substantial reduction in stamp duty. Leased back to developer for the first year with a guaranteed yield. Current valuation is unchanged from purchase price, which is no wonder since I bought it just before the recession started.

 

My girlfriend had bought a Central Equity appartment on St Kildare Rd a few years back and it has substantially appreciated. It's all down to timing.

 

So just remember, whether it will appreciate or not is all down to the usual fundamentals, i.e. property market cycle, demand, supply, location, interest rates. You have to do your market research just like any other property.

 

It's not whether its a Central Equity property that matters. They just seem to have a fairly good professional reputation.

Edited October 6, 2009 by Chinaski

[Skunk]

just met a casual friend who returned from austrailia for holiday..

 

apparently, he bought a property via this company called central equity during a roadshow in sg a couple yrs back for about A$350k.. seems like it has appreciated to some A400k now (and its just empty plot of land).. but he's going to rent it out for A$2k/mth when the house is scheduled to finish building by Q4 this yr..

[Lex250]

I'm no property expert, but i've this nasty gut feeling that the Australian property market might be set for a meltdown in the future, not unlike that of the American market. Of course, this is just a gut feeling...i hope im proven wrong, or else alot of ppl will suffer.

 

 

Well The RBA just hiked 25 bps this mrg and comments are it'll probably continue to hike..I think it may slow down any appreciation effect

[Skunk]

Well The RBA just hiked 25 bps this mrg and comments are it'll probably continue to hike..I think it may slow down any appreciation effect

 

I have no idea what u r talking about LOL

 

I just know that if something's too good to be true, it probably is. My friend in Melbourne told me there're people making millions of dollars simply renting/buying/selling properties, they don't have to work, simply do this. This sort of activity adds nothing to productivity nor to the economy, how can it be lasting?

 

I'm no economic expert, I'm just someone who believes that nothing beats old-fashioned hard work. Yes, a one-off or twice-off quick profit by speculation is always good, but the moment people can actually live off this activity without working, gives me the vibes something is going wrong somewhere.

[Lex250]

I have no idea what u r talking about LOL

 

I just know that if something's too good to be true, it probably is. My friend in Melbourne told me there're people making millions of dollars simply renting/buying/selling properties, they don't have to work, simply do this. This sort of activity adds nothing to productivity nor to the economy, how can it be lasting?

 

I'm no economic expert, I'm just someone who believes that nothing beats old-fashioned hard work. Yes, a one-off or twice-off quick profit by speculation is always good, but the moment people can actually live off this activity without working, gives me the vibes something is going wrong somewhere.

 

 

Oh....what i meant was the Reserve Bank of Australia just announced this mrg they are raising interest rates by 25 basis points. From 3 to 3.25%.

 

 

[Skunk]

Oh....what i meant was the Reserve Bank of Australia just announced this mrg they are raising interest rates by 25 basis points. From 3 to 3.25%.

 

orh...i thought what RBA lol

[GoodCar]

 

IMHO

Australia has a policy of increasing the population.

As long as there is population growth, there will always be a demand.

 

Similarly in Singapore,

If our population start to shrink and no people want to come anymore, than everyone jiala liao.

So we better be nice to tourist and others :)

[Notsuchagooddeal]

My mate bought a 1 bedroom from this mob in England only to find out they put the price up $100,000 more than the one they sold next door, what a rip off be carefull