The people who purchased off the plan 6 to 10 years ago should be selling for more even in a soft market...good location close to transport...walking distance to CBD and surrounded by well kept Parklands.. I'm not sure why selling for more than they purchased is interesting????
Good point. It was interesting to me because most people who purchased an inner city apartment off the plan have been selling for less than they paid. So here is an example of a building where most sold for more than they paid. That being said, still a capital loss for most sellers, due to stamp duty, agents fees and inflation.
April 7, 2012 at 3:56 PM
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Here are some recent sales of apartments in the Roma St Parklands complex in Brisbane, which was developed by Pradella in around 2002 to 2006:
Apt 3006, 3 bed, $520,000
Apt 3093, 1 bed, $360,000
Apt 3107, 1 bed, $370,000
Apt 7046, 2 bed, $621,000
Apt 6039, 3 bed, $1,475,000
Apt 3081, 3 bed, $590,000
Apt 6028, 3 bed, $1,300,000
Apt 3120, 2 bed, $637,000
What is interesting here is that of the eight resales listed above, only 1 was less than the purchase price that the seller originally paid. Also, at least 5 were sales to owner occupiers, and one was a sale to a super fund. All apartments seem to have Parklands views.
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"Roma Street Parklands - Recent Sales"
2 Comments -
The people who purchased off the plan 6 to 10 years ago should be selling for more even in a soft market...good location close to transport...walking distance to CBD and surrounded by well kept Parklands.. I'm not sure why selling for more than they purchased is interesting????
April 6, 2012 at 7:25 PM
Good point. It was interesting to me because most people who purchased an inner city apartment off the plan have been selling for less than they paid. So here is an example of a building where most sold for more than they paid. That being said, still a capital loss for most sellers, due to stamp duty, agents fees and inflation.
April 7, 2012 at 3:56 PM