Apartment. They are mainly built and sell, pay 10% when you sign agreement, balance pay only when completion. I plan to take Aus bank loan. landed not so close to CBD I think...

I am still contemplating on this.

Problem with buying apartment is you are actually paying a premium of 15% over market value as a foreign buyer. Further the price of apartments in the CBD may deflate due to oversupply. Most locals will not buy CBD properties at inflated prices.

However, landed property may have a better prospect of capital gain.

If cbd property is of good value, will be snapped by locals, developers need not spend $$$ to promote in overseas.

Getting bank loan for offshore properties from local bank like Maybank is much safer bet.

But anz and westpac interest rate is 3.99% compare to MAYBANK's 4.85%.

I got a friend unit to let go for "the Carlson" inside Melbourne CBD. La trobe Street, nearby rmit.
To get keys by Nov 2015.

I planned to hold for long, rental purpose. Completion 2018 and just imagine AUD vs Ringgit in 10 years times... Hmmm I choose AUD. not sure if it's good move but rental wise should be CBD easier to get tenant?

Thought only Aussie citizen and pr are eligible to buy subsell?

Heard that if the unit still during construction can still sell to foreigner, as long as before complete.

Can sell during construction?
How to justify the value?

Yes.
Plus side is should be easer to get tenants. However, at the rate they are building, don't know how long this can last!
When there are too many, the rents will fall. It will be the tenants' market to choose.
I read rents are already falling

I look at Sydney, similar size with Melbourne at CBD area already go for AUD 800k plus... that's really so much higher than melbourne and perth. Perth is slightly cheaper than Melbourne but it's much quiet too... at the end I go for melbourne unit. But recently I see so many project selling in Malaysia near st kilda or south yarra, many of them and pricing similar CBD area, maybe slightly cheaper around AUD30k - 50k... I wonder when all complete do that area really got so much rental demand? because these area although near CBD but do need to drive around 10 minutes - 15 minutes to the city, can't by walking .

This post has been edited by SYYMY: Sep 6 2015, 07:20 PM

That's the worry. Over production.

Walking distance within CBD area I think should be able to rent out?

how about market in perth..looking for hse/apt near christchurch school..

The main worry is that there is over supply whereby you may even find difficulty in renting out at good prices.

Yea... That's why if getting less than 70% loan should be still ok to go in I think, if above this margin then might difficult to cover installment and taxes or manage fees...

Please everybody be VERY , VERY careful when you want to buy Australia property. Don’t be fool with those stories of people making tons of $$$ over there. There are lots of traps and if you kena one of those, regret also no use lah.
Especially if you buy off the plan. Don’t be fooled with the 10% payment only now and balance on completion . No so easy for you to win one.
Heard of sunset clause in the S&P agreement? This one is a killer, - if heads the developer win and if tails you lose.
When value of property zoom up, developer can rescind the contract with all sorts of excuses and if property value half dead , then you end holding the baby.

Yes if you have gone in before 2011 - make good $ and also worth the effort after deducting tax etc etc.

What is sunset clause??

Eco World International's maiden Sydney project is 90% reserved

Theedgeproperty.com | September 11, 2015

SYDNEY (Sept 11): Eco World International’s maiden residential project in Sydney, Australia -- West Village -- is already 90% reserved before the official launch of the project.

Previews were organised in June and July in Kuala Lumpur, Singapore, Indonesia, China and Hong Kong. The remaining 10% have been kept for the official launch which is slated for end of September, although the exact date has not been finalised yet.

Deputy chairman of Eco World International Tan Sri Liew Kee Sin, who gave the welcome address at the opening of EcoWorld Gallery@West Village in Parramatta in Sydney today, is happy with the performance of West Village and believes the project has much to offer.

“We are delighted to debut the Eco World brand in Australia with such a strong project located in Parramatta, the fastest growing CBD and No 1 Investors’ hotspot in Australia," said Liew.

Also present at the opening were Eco World International president and CEO Datuk Teow Leong Seng, CEO of Eco World Sydney Development Pty Ltd Yap Foo Leong, and guest of honour Lord Mayor of Parramatta, Scott Lloyd.

West Village is sited on an approximate one acre plot at the corner of Church Street and Parkes Street in Parramatta. It has a gross development value of A$300 million (RM910 million) and will offer 397 units of 1, 2 and 3-bedroom apartments starting from 50 sq m. They are selling from A$11,000 per sq m. The units are spread across a 40-storey residential tower and a seven-storey podium portion. On the ground level, there will be 1,300 sq m of retail space for F&B outlets to cater to the residents in the development.

According to Yap, Parramatta is centrally located within New South Wales and the only way for Sydney to expand is to the west as the city is by the coast.

Moreover, he adds that Parramatta has all the amenities such as a train station, which takes you to Sydney CBD in 30 minutes, universities such as Western Sydney and University of New England, medical facilities and the largest shopping mall in the southern hemisphere Westfield Parramatta Shopping Centre.

Teow revealed that West Village’s buyers are a mix of international and local investors. He also said that the land was purchased for A$43 million in June 2014.

West Village will commence construction in 2Q2016 and is scheduled to be completed in three years. Internationally recognised architecture firm Wood Bagot will be designing the building and the green areas will be landscaped by celebrity landscape designer Myles Baldwin.

West Village's facilities include a rooftop terrace that will feature a chef’s kitchen and lounge. Atop the podium section will be a landscaped garden. Other facilities are a private piano room and the first indoor driving range golf simulator in Western Sydney that allows golfers to play the top 20 courses in the world.

i agree with this one.

Seems a one sided contract. Some developers are very sneaky. Its a wonder the Aus laws allow this one sided clause. There seem to be NO penalties for late delivery. All the developers have to do is delay handover and the sunset clause is effected.

Problem is this, foreigners seem to have NO choice but to buy off the plans?