Sunday, February 27, 2011

Soleil Marketing


A sign in the Soleil window has the following information.
Vendor finance - 5%
Prices as at January 2011
Studio - from $341,000 - estimated rent $330 to $380 per week
1 bedroom no parking - from $363,000 - estimated rent $400 to $470 per week
2 bedroom with parking -from $550,000 -estimated rent $550 to $650 per week
2 bedroom plus study with parking - from $659,000 - estimated rent $600 to $700 per week
3 bedroom with double parking - from $840,000 - estimated rent $800 to $950 per week.
Expected occupancy dates - levels 2 to 39: mid 2011. levels 40 to 64: early 2012

Compare rents in Admiralty Towers One, nearby.
1 bedroom, furnished with carpark - $520 per week
2 bedroom, unfurnished with carpark - $550 per week
2 bedroom, furnished, with car park & river views - $640 per week

So I think that Meriton's rent estimate is a little optimistic.
They are offering a 7% rent guarantee for 5 years on the 1 bedrooms. That suggests that the sales price is overpriced.

No comments: