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4 hours! Record for Brisbane. Investors snap up Ekka apartments.
Topic Started: 2 Oct 2014, 06:31 PM (1,767 Views)
jesusjones
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I don't know much about the City centre but my
Mates wife who's in real estate says apartments are
Selling like crazy..

http://m.brisbanetimes.com.au/queensland/investors-snap-up-ekka-apartments-20141001-10ov99.html
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Mike
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jesusjones
2 Oct 2014, 06:31 PM
I don't know much about the City centre but my
Mates wife who's in real estate says apartments are
Selling like crazy..

http://m.brisbanetimes.com.au/queensland/investors-snap-up-ekka-apartments-20141001-10ov99.html
It has been similar in Perth over the past year with apartments. So many are selling, a large change in buyer habits. Perth has always been a 4x2 city one a block of land but that is now changing and quickly. So many apartments are being built but most of them have already been sold, seems like huge demand for apartments which is not suprising with land prices rising so much and a long communte to go with it.
http://mike-globaleconomy.blogspot.com.au/
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herbie
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Mike
2 Oct 2014, 06:44 PM
It has been similar in Perth over the past year with apartments. So many are selling, a large change in buyer habits. Perth has always been a 4x2 city one a block of land but that is now changing and quickly. So many apartments are being built but most of them have already been sold, seems like huge demand for apartments which is not suprising with land prices rising so much and a long communte to go with it.
Given that you've felt 'compelled' to share this obviously 'enlightening' info about Perth units on a thread about BNE units, there really are times that you DO come across as a totally unabashed spruiker/hawker of Perth units Mike.
Edited by herbie, 2 Oct 2014, 08:08 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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hoofarted
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Mike
2 Oct 2014, 06:44 PM
It has been similar in Perth over the past year with apartments. So many are selling, a large change in buyer habits. Perth has always been a 4x2 city one a block of land but that is now changing and quickly. So many apartments are being built but most of them have already been sold, seems like huge demand for apartments which is not suprising with land prices rising so much and a long communte to go with it.
OMG! You must have cum with excitement typing all that.. Fantasies are great!
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honored guest
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Seven hundred thousand dollars for a 2 bedroom flat. I wonder if the walls are solid? Probably not, probably just gyprock over galvanized tin frames. 40 years later... Here is your inheritance kids, a two bedroom flat that is scheduled for demolition in 15 years. Better sell it fast!
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Mike
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herbie
2 Oct 2014, 08:04 PM
Given that you've felt 'compelled' to share this obviously 'enlightening' info about Perth units on a thread about BNE units, there really are times that you DO come across as a totally unabashed spruiker/hawker of Perth units Mike.
I don't like apartments. I don't buy them or build them.

But for those that like them, great. I was commenting on the change in buyer habits which is very noticeable in Perth. It is also about time we need much more infill and population density. Hence my comment on the long commute.

Is that good enough for you, I am now talking down apartments for my own personal use, I would not touch them.
hoofarted
2 Oct 2014, 08:30 PM
OMG! You must have cum with excitement typing all that.. Fantasies are great!
Only if it is over your face. :to:

How about a turkey slap to go with it.
Edited by Mike, 3 Oct 2014, 12:44 AM.
http://mike-globaleconomy.blogspot.com.au/
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Leodwald of Portsburgh
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From the comments section:

http://www.brisbanetimes.com.au/queensland/investors-snap-up-ekka-apartments-20141001-10ov99.html

Quote:
 
"RNA General Manager of Communications Veronica Carew said the record sales were a testament to the popularity of the Brisbane Showgrounds transformation."

No Veronica, I would say it is testament to the housing investment industry that drives these major unit development. How many were sold to first home buyers as their principle place of residence, how many were sold through property spruiking seminars, how many were sold to overseas investors? These major unit development are all well oiled machines. The property developer works with the financier and real estate industry to tie up sellers who pay premium dollars because of different tax lurkes and benefits. Meanwhile ordinary Joe Blow is locked out of affordable housing (not that these are anywhere affordable).

Also love the supplied photo. Does anyone believe that their 2 bedroom unit is going to look like this? It will be a dog box. Still, who needs truth in advertising. It is more likely to be a "representation" of a roof top dining area, but they won't say that because this is just a media marketing puff piece.



Or this:

Quote:
 
Our office is 'round the corner from this development. Bus loads of Chinese tourists have been rolling up to walk through the sales offices. From speaking with people involved they are making up a large percentage of buyers.

Commenter
Voltara


And our idiot pollies continue to sit on their hands. I guess when you're running a massive demographic ponzi scheme your actual citizens mean absolute shit to you.
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CSI
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Are they seriously turning the Brisbane showgrounds into apartments? How much of it?

Madness.
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Thatguy
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This is possibly the straw that broke the camels back for Brisbane apartments. The prices aren't too bad but it is hard to see the value here when there are so many similar priced apartments in development in Brisbane in the next few years.
Edited by Thatguy, 3 Oct 2014, 12:58 PM.
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CSI
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So they are selling off a slice of the ekka grounds to pay to upgrade the remainder. Supposedly, although who knows where the money will go. The first slice of many I bet...

And yeah $400k for a tiny concrete 1-bedroom shitbox to $800k for a slightly larger 2-bedroom version. Unfortunately this does seem to be the going rate for apartments near the city.

And I'd like to know how many of the pre-purchase buyers actually intend to move in when they are completed, and how many are investors.
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