I bought an apartment in Moonee Ponds 4 years ago off the plan for 498k .
It is worth $435k today. Worst investment I ever made

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I bought a CBD studio apartment in 2005 for $231k and still to this day get appraisals coming in under $200k. It becomes very frustrating when you can't sell an investment property knowing it will leave you with a debt you didn't have prior to purchase. I have developed the belief that this type of investment is not an investment unless you can pay cash for it and treat it as a cash flow portal.

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Thank you. I was considering buying off the plan

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Buyer beware!!

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I bought a unit off the plan at Lane Cove in 2014 for $590k and it should be ready early next year. I have kept up with other developments in close proximity to mine to check potential rental etc. and the prices for 1 bedders that are now actually smaller than my apartment are being sold in excess of $650K! I bought this apartment as an investment but also because I really liked the block and cannot wait till I actually get to see it. So hopefully It will be OK for me. As although I plan to have it for the long term I would like to see some capital gain .

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I live in a new development and you could see empty houses forat least a year after completion also the mix is very unbalanced in ethnicity and it will continue around sydney for sure as the development companies advertize very heavily overseas first

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We still have the previously mentioned studio apartment and hope to part with it some time in the next year or so and at least cover costs. Anything that has the potential to leave you in debt is a liability, not an investment.

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