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Posts Tagged ‘Apartments’

Off the plan apartments Melbourne

Posted by Mark Mendel in Melbourne Property News on 05 14th, 2011

Property investors and home buyers in Melbourne always consider buying an off the plan apartment as the stamp duty savings in Victoria can amount to tens of thousands of dollars in savings. The benefits of buying an off the plan Melbourne apartments also include such items as having the opportunity to save for additional deposit during the construction phase, selecting an apartment early on in the sales process, sometimes having the option to select a colour scheme before the developer has started construction and being in a position to lock in a price early and reap the rewards from any capital growth during the construction time period.

There are some areas of Melbourne where off the plan apartments get sold quickly. These areas in Melbourne generally are inner city locations which can include South Yarra, South Bank, Richmond, St Kilda, Prahran, Port Melbourne, Abbotsford and more.

It is important when buying an off the plan apartment in Melbourne and in other locations around Australia that as a home buyer or property investor, you understand the risks involved along with the process of buying an off the plan apartment. Below is a quick overview of the process of buying an off the plan apartment in Melbourne:

1. Submit a Sales Advice and a holding deposit to take your selected apartment off the market

2. Review contracts with your solicitor or Conveyancer

3. Ensure 10% is available for a deposit. This can be Cash, Bank Guarantee or Deposit Bond depending on the Developers Finance arrangements

4. Sign contracts and exchange with deposit

5. Organise finance 3 months prior to completion

6. Conduct a pre-settlement inspection

7. Settle on your new apartment

As you can see from the above, buying an off the plan apartment in Melbourne is fairly simple and can normally be done in 7 to 14 days. Ensuring you have a good team around you including a good mortgage broker for your home loan along with a conveyancer that is familiar with off the plan contracts which are generally larger and more detailed than that of an established property.

Most importantly know that you can afford to purchase the desired property and feel comfortable moving ahead with the purchase of the off the plan apartment as it could be 2 or 3 years of waiting before the completion of the Melbourne apartment and you want to make sure that this is a period of your life which you enjoy and not stressed out wondering how you may be able to pay for the apartment down the track.

In Summary, the purchase of an off the plan apartment in Melbourne can be a good idea if you are educated in your decision to purchase and the location where the apartment is being constructed. If you are investing in an apartment that is off the plan in Melbourne, make sure you buy based on the numbers and not on your emotions. A location which you personally may not find desirable today may change in years to come and deliver the best capital growth, so rely on your team around you to help making the buying process that little less stressful and a whole lot easier.

To see a selection of over 25 of the plan apartments in Melbourne, visit Find Investment Property.

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Melbourne Apartments vs Shares

Posted by Mark Mendel in Melbourne Property News on 02 4th, 2011

In a recent study conducted by Oliver Hume in Melbourne, it showed that apartments and townhouses have outperformed the stock market over the last 30 years. In its report, in measured the return of apartments from September 1980 through to September 2010. The median price of Melbourne apartments rose by an average of 8.9% each year while he share market rose 7.7% on average per year.

They were quick to point out that if they had measured the result up until 2007-08 collapse a different storey would be told with the share market outperforming the property market. The key fact though is to show that over a period of time when there are dips in the economy; property is a safer more reliable investment that doesn’t react as quickly to poor economic news due to the perceived illiquid nature of the investment.

Oliver Hume also indicated that Adelaide and Sydney apartment prices did not perform as well as Melbourne with them increasing on average at 7.1% and 7.4% respectively over the 30 year period.

Andrew Perkins, national research manager of Research at Oliver Hume, said that at various points in the past three decades shares and unit prices intersected during market highs and lows. ”It just shows that the set-and-forget nature of property can provide less-spectacular returns but it also highlights the volatile nature of the ASX,” he said.

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Brunswick East Apartments – Suburb Profile

Posted by Mark Mendel in Melbourne Property News on 09 17th, 2010

Brunswick East is a suburb in Melbourne which is only 6 km north of the Melbourne CBD. Brunswick East is bordered generally by Lygon Street and Holmes Street in the west; the Merri Creek in the east adjoining Northcote; Park Street, Nicholson Street and Glenlyon Road in the south adjoining Carlton North and Fitzroy North; and Moreland Road in the north adjoining Coburg. Brunswick East is a mixed use suburb, consisting of primarily residential and commercial properties. In recent years there has been substantial gentrification occurring which is pushing up prices and bringing more new residential developments to the area.

Brunswick East also many open areas including a number of large parks and reserves as well as community centres and bike paths.

Brunswick East has a population of around 7,500 which is expected grow as more new residential development occurs in the area.

In Brunswick East:

-          35% of residents are born overseas.

-          46% of residents are aged 20 – 39 (significantly higher than the Melbourne average of 33%)

-          50% of the residents have never been married

-          13% of the population are professionals (significantly higher than the Melbourne average of 8%)

-          75% of the population are in the workforce

-          A nice balance between owner occupiers and renters (60%:40%)

  • (Source: APM)

If you are looking to purchase a new apartment in Brunswick East, then visit Find Investment Property to see what new apartment developments are currently available.

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Fifty Albert Apartments – South Melbourne

Posted by Mark Mendel in Melbourne New Apartments on 08 16th, 2010

Fifty Albert is located on Albert Rd in South Melbourne and is set to be one of the most unique apartment developments in the area by the time it is completed in mid 2013.

Fifty Albert is a 294 apartment development with amenities which you would usually find in a 5 star hotel. Some of these amenities include Hot tubs, sauna, Gym, Yoga room, poker room, roof top kitchens, BBQ area, business centre and more.

Fifty Albert apartments have been designed by the renowned architectural firm Ellenberg Fraser.

Fifty Albert sits in a peaceful pocket of Albert Rd, between St Kilda Rd and Kings Way in South Melbourne. It is less than 2km from the Melbourne CBD and walking distance to:
– Royal Botanical Gardens, Albert Park and Fawkner Park.
– Shops, cafés, restaurants and bars on St Kilda Rd, Clarendon St, Toorak Rd and Domain Rd.

The Fifty Albert apartments will have great access to:
– Melbourne’s public transport network
– Major arterials (West Gate Freeway, Monash Freeway, Dandenong Rd, Princes Hwy, Docklands Highway and Kings Way).
– Universities (Melbourne Uni, RMIT).
– Schools (Wesley College, Melbourne Grammar, Macrobertson High School).
– Melbourne’s famous sports facilities (MCG, Telstra Dome, Rod Laver Arena, Melbourne Aquatic Centre).

Fifty Albert will contain 294 one and two bedroom apartments across levels 8?28 of a 28 storey building. There will be seven typical apartment types and all floors are the same layout. Property Investors and home buyers will have a choice of three quality finishes schemes – dark, light and a combination. There is also a proposed ground floor café and produce store.

This is a very exciting development in the South Melbourne area.

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Trilogi Apartments – Prahran Melbourne

Posted by Mark Mendel in Melbourne New Apartments on 06 17th, 2010

Trilogi Apartments are set in the heart of Prahran and only 100m from Chapel Street.

Trilogi is located amidst all the ingredients required for an enviable lifestyle. The options for dining out and socialising are incomparable, with some of the most outstanding bars and night spots, restaurants and cafes within walking distance.

When the urge for shopping arises simply act upon it. Prahran’s world famous shopping capital Chapel Street is right at your door step. Stay fit and green with Princes Gardens within 100m and Albert Park Lake only 7 minutes away by car. The renowned St Kilda beach is ideally located within 10 minutes drive.

Melbourne CBD is less than 6kms away and with easy access to all transport links including trains, trams, bicycle paths, your life at Trilogi is simply living to admire where nothing is too far.

At Trilogi, you choose the life you live.

Whether you prefer the street fronting Chic, the edged sharp or the quiet elegant side of Trilogi, flexibility is what you have.

With a rooftop garden, luxury swimming pool, gym and a garden terrace exclusive to residents, life at Trilogi offers a truly stylish lifestyle.

The architecture of Trilogi evolved from studying the culture and environment of Prahran.

Chic – an expressive shell

Sharp – open and engaging

Elegant – pleasing to the eye

Choose from 1, 2 or 3 bedroom apartments.

To find out more on Trilogi Apartments Prahran, visit Find Investment Property

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