If you look around the City at the moment, there are heaps of fully-furnished apartments that have been put up for rent. A lot of them are ex-Airbnb that the owners are now forced to rent out really cheap just to be able to cover their loan repayments.
You can easily get a centrally located fully furnished apartment now for less than $600 per week, and some will even give you weeks of free rent.
My opinion is, this will not last and the owners will probably be forced to sell, triggering a property price crash, but that's another topic!
In the mean time, $600 is roughly equal to 2 nights in a 5 star hotel (or even less!). You get the apartment for 7 days. I mean, depending on the frequency of your punting, or if you have punting buddies, this could be a great option!
definitely a renters market. A friend had to find a place a couple of weeks ago, was sorted in two days and looked at 10 different apartments!
You could potentially look at a 3 month lease at these reduced prices and have a reasonably safe punting pad that should see you through the worst of this. Definitely food for thought!
Time for some owners to rent out the whole floor and set up shop as privates
Once we start accepting foreign students they will start to flood in. Australia is probably the safest country at the moment for overseas study.
Many students will take Australia a better option over US and Europe.
I heard on the news this morning that they were trying to work out a way of letting foreign students back in before we open the borders to everybodyOriginally Posted by holi_day
Taiwan is fast tracking to take back any overseas students who wish to return to universities across Taiwan !
How do you know that? Have you study at their uni?
What he said!
Canada has been much better option for a while.
rents are definitely much more reasonable now, but I'm not sure how a punter takes advantage of a 1br apartment at $600/week in the city.
Say you are living in a house with your family in the suburbs right now, and you shell out an extra $600 every week to rent an apartment in the city, where is the benefit?
Besides, it's going to blow a hole of over $2500 in your monthly budget, kinda hard to hide from your family?
On a side note, I'm glad Airbnb hosts have taken a huge hit from the pandemic. Never a fan of Airbnb, which has wreaked havoc for neighbors who want to live in peace. Never understand why anyone would share their room with strangers.
a guy in the office kept bragging about an investment property he bought last year and rented out on Airbnb, this year he has totally shut up.
Yea only possible if you’re on a general manager or greater salary like brothel creeper
Should be easier for the shops to book rooms for girls to private though?
Sydney Uni is delaying the start of semester 2 to 24 August. Maybe they are working with the government to give more time for things to settle down before letting foreign students back in around that date. The problem will be the 14 day quarantine for them stuck in hotels.
the most bullshit thing is when all these people over leverage to buy multiple properties and they're called 'moguls' or some other bullshit...
Never put all your eggs in one basket with any form of investing
That $600 average was for a 2br place. Sorry I was too absorbed in my own research!
And, I just checked again, 1br fully furnished, located around Wynyard are down to $350 a week now, with average hovering around $500 at better locations. That means it is quite possible to get a decent one for $400/week.
I know, $400/week still adds up to $1732/month, and $350/week goes to $1515/month. That's a huge punting overhead and not worth it if you rarely punt. However, say you have a few punting buddies, and you come up with a "roster" of your own, you can pretty much fully utilise it as a punting den, every day of the month. That overhead comes down significantly.
Anyway, was just a lightbulb moment.
I am with the others on this thread, screw all those MF "property investors", none of them have a soul. This includes the realtors spruiking all these overpriced units. "Property prices never go down", they say. Using peoples' needs to have a roof over their heads to get rich... How is that different from buying a cancer drug company and jacking up the price of the drug by 10000%? I'd rather burn all my money on the stock market than be part of that group!
Well, this virus is like payback to all those greedy bastards. Call it the karma virus. A lot of these MFs took out massive loans to buy overpriced units that could only be serviced by doing Airbnb, not LT tenants. Worse, they're also pushing down LT rents because of so many units hitting the market, and because they're so desperate to rent their units out and slashing prices like it's nothing.
Most of them *will* have to sell ... into a market with record high unemployment and zero immigration. The fight we're having with China is the cherry on top... Perfect for alienating ourselves from an entire nation of property investors.
The government won't pay for non australian citizens to stay in a Hotel for 14 days.
Totally agree Goldie.
Just wait till September when the jobkeeper allowance ends and the banks start asking borrowers to begin to repay their mortgages again.
My level of sarcasm depends on your level of stupidity.
Burn baby burn. There will be alot of suicide. Some both partners lost job or reduce income.
id rather not get into these units as when the landlords decide to up their rent in the future and you cant afford it, then you will have to find somewhere else. too much trouble
For some people, the climate is too cold for part of the year. Australia fares much better with warmer climate, relaxed lifestyle and easy-going culture.
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