This is, funnily, exactly what's
happening in the Brisbane CBD with some reported and advertised property sales'
prices - they are both CBD apartments, they both have 2bedrooms, so should they
sell for the same price? Absolutely not. They may have different numbers of
bathrooms, different views, different numbers of car spaces ... and more.
So when I
read 'Highest achieved price for 2bed unit in building 'XYZ' in 3
years!', I think "Hmmm ... could be that they're comparing apples
with tomatoes!".
Without going into details it's
interesting to note:
à An additional car space
will add approx. $60,000 (or in some cases more) to the price of an apartment.
However, a tandem car space will not achieve the same price as a single
carspace. Example: 2bed unit with 2 car spaces will sell for approx. $60,000
more than one with only 1 carspace.
à Views mean $$$
... sometimes. Apart from the direct riverfront views of some buildings and the
eagle-soaring views from the top of 74-floor Soleil or 69-floor Aurora , views can be here
today, gone tomorrow. Nice corridor views may remain while other better views
may be built out in a few years. Check Brisbane City Council Development
Approvals before spending extra money on a view.
à Apartment size and no. bathrooms. For a 2bed apartment, 2bathrooms would normally achieve higher prices
than 1bathroom, but this may also depend on other factors such as the overall
apartment size. A larger, well-designed apartment would also be expected to
sell for more than a smaller type. Compare the apartment sizes and floorplans.
Back to our advertised highest
price. Always ask yourself : what types of
apartment is this being compared to? What size, floorplan, level,
outlook, no. bathrooms and carspaces, and what does it include?
It may still be the highest price in
years, but it may be like comparing apples and tomatoes .. they are very
different.
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