Never buy “off the plan” in a high rise apartment building!
We have encountered so many disappointed property investors who have purchased “off the plan” to find that final valuations are less than the purchase price with the result that they have to provide more equity before settlement.
Capital gain is the reason people buy property. History tells us that property prices in good suburbs, that is, those close to the city, double every 10 years ( in many cases even greater multiples than that) . This gain does not apply to apartments bought in high rise buildings either “off the plan” or established buildings.
