Saturday, September 1, 2007

Koko at West End

One agent told me recently that Stockland has a significant number of unsold apartments at the Koko development at West End. Another agent told me that the apartment complex has a significant problem getting water for the courtyard gardens, and that it was costing the body corporate more than expected.

I found the gardens over all to be disappointing at Koko. Looking at the original marketing material, and comparing what resulted, there is a big difference. One example: the pool had clear glass-like pool fencing in the brochure; but the pool was built with an ugly metal pool fence.

A number of apartments are being resold, with 2 bedrooms of about 85 sqm being sold for less than $600,000, even $550,000.

A three bedroom on the top floor is listed at $1,450,000.

They just don't seem to be selling that fast.

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