I don’t get why there’s customers or closet SAs defending high prices. Yet there’s self justification that it’s merited or makes you more exclusive.

The prettiest building in a run down area (it’s not Kenny Hills let’s say) is still just that. There is no inherent justification to the price and you were sold marketing gloss.

Of course there’s going to be buyers. Doesn’t make this a viable investment vehicle or capital preservation tool for own stayers. This is a “nice to have lifestyle” property for PJ boomers the way I see it.

Learn to take an opinion without being a twat.

No it won’t drop as this is clearly an own stay type unit. But the beauty of these types of places are that if you did want to rent it because inevitably some will be available it would be very cheap for the price paid.