A multi million-dollar penthouse in the heart of Brisbane's CBD is now on offer for $1.1 million less than the original asking price. But there's a catch - it's considerably smaller than it used to be.
The renovated, art deco apartment in the historic MacArthur Chambers on Queen Street was put on the market for $3.4 million in May this year and appears on a list of Brisbane's most-discounted properties.
Advertisements for the property now read "Disregard Previous Pricing!", due largely to a 117 square metre reduction in the size of the apartment, which was converted into two separate titles.
The remaining 328 square metre apartment is now listed for $2.3 million, 32 per cent less than the previously offered 445 square metre apartment.
However, it doesn't stand alone when it comes to heavily discounted properties.
It is just one of the homes featured in a list of the Top 10 Most Discounted Properties in Brisbane, compiled by SQM Research.
Actually I saw today, a hand written sign, it was on the intersection of Pittwater Rd and Warringah Rd, Shadow will know it, even though he's a festy mick that should be sent back to Ireland, it said "buy my 1.2m house for $1200 a week".
Even though Sydney is 5% up or whatever, the upper shit is still not doing very well imo. They're still hanging out there for rich Chinese, but they ain't happening for the most part.
stinkbug omosessuale Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments. Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck! See here Property will be 50-70% off by 2016.
A multi million-dollar penthouse in the heart of Brisbane's CBD is now on offer for $1.1 million less than the original asking price. But there's a catch - it's considerably smaller than it used to be.
The renovated, art deco apartment in the historic MacArthur Chambers on Queen Street was put on the market for $3.4 million in May this year and appears on a list of Brisbane's most-discounted properties.
Advertisements for the property now read "Disregard Previous Pricing!", due largely to a 117 square metre reduction in the size of the apartment, which was converted into two separate titles.
The remaining 328 square metre apartment is now listed for $2.3 million, 32 per cent less than the previously offered 445 square metre apartment.
However, it doesn't stand alone when it comes to heavily discounted properties.
It is just one of the homes featured in a list of the Top 10 Most Discounted Properties in Brisbane, compiled by SQM Research.
Luxury property in Brisbane is suffering, but I don't think that a subdivided apartment and a property at Tangalooma are great examples of Brisbane properties in stress.
Josephine Johnston who sell luxury homes is telling everyone that she is seeing a lift and a lot more enquiry, but how much of a lift I don't know.
Any expressed market opinion is my own and is not to be taken as financial advice
Dont you worry about Brisbane its coming back all right, entry level at most suburbs is not even hitting the market before its sold.
Perhaps at the entry level, but not at the high medium to luxury level.
I haven't been reading the property liftout from the Courier Mail for quite a while, but I did today. When I looked at the auction pages I noticed that there is still a high number of receiver and mortgagee auctions. Until that stock is gone from the market the prices at the high end will remain depressed. The downturn in coal, tourism, and the floods of 2011 really took their toll on the Brisbane market.
I give it until Xmas for that to be played out.
Any expressed market opinion is my own and is not to be taken as financial advice
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