Greenland Tower

[MaxPunter]

Anybody has handed over the 10K as Expression of Interest to got "the privilege" of taking part to the VIP sale?
I did, hoping to secure a good deal

Greenland is the new development in Bathurst Street and will be the tallest tower in Sydney, possibly an icon http://www.greenlandcentre.com.au/

It will not come cheap with 2 bedrooms starting at 1 Million but it should provide a good capital growth and rental return

What do you guys think about it?

[paulgallen]

The party guarantee to make a profit from buying OTP is th developers.

[MaxPunter]

Dont forget that buying OTP allows you to make quite good negative gearing taking into account building depreciation, mortgage costs, expenses...that of course if you have a "smart" accountant...mine is Israeli :rolleyes:

[syphon]

Nice to know some of us have a few dollars left after punting!!!

[opimrs]

The location is excellent, just a couple of blocks from Town Hall. And if you're lucky you should have views over Hyde Park.

[MaxPunter]

The location is excellent, just a couple of blocks from Town Hall. And if you're lucky you should have views over Hyde Park.
The apartments facing North-East should have good views over Hyde park and possible some water views, if you go up enough, probably over level 30
Those facing North-West should have Town Hall and Darling Harbour views(highest floor)

Sydney house market went up 15-20% in the last 9 months, it's crazy
Analysts says the growth will slow down but will continue for the next 3-5 years; hope to secure a good apartment and potentially sell closer to completion (after 4-5 years)
It's like buying a future; you pay around 100K deposit (for a 1 Mil apartment) if in the meantime during the construction period the market goes up you might sell it a 1.2 Mil making 200K (minus stamp duty and expenses) having invested only 100K....of course this is the happy day scenario.

[opimrs]

I think they'll be completed sooner than in 4-5 years. It's amazing how quickly those apartment blocks go up.

[MaxPunter]

it's gonna be a 60 levels skyscraper, it will take 5 years according to the developer...that it is good since you just have to invest the 10% deposit for 5 years and wait for the market to grow in the meantime

Sydney house market has been flat in the last 4-5 years, the cycle now should be moderate growth for the next 4-5 years

If the market doesn't go up i might keep the apartment to run a bordello, anyone interested in fucking standing doggie an asian cutie in high heels while she is laying against the glass window overlooking the city from level 60? :slobber:

[paulgallen]

What happens if interest rates goes to 7% when u settle ? Gotta make sure u have the capacity to borrow the amount. Easy to say the price will go up but you never know with the interest rates. U reckon any of the genius economist can safely put their necks out and know for certain what interest rate is gonna be in 5 years time ?

U reckon those ghost city in china's not gonna go pop within 5 years time ?

[MaxPunter]

If the interest rate goes up, less people buys properties therefore rental prices go up, what you pay more on loans you can recover it on rental

There are no investments that are risk free...except the pussy

[rage_face]

One word: bubble.

[heatseeker]

The best time to buy property is when you can afford to service the mortgage, keeping the bank happy
Considering possible interest rises in the next 5 years
Considering you have a regular income for the next 5-10 years to pay the mortgage

[wtfboy1234]

I thought interest rates are going down now?