I just don't understand

It seems to me that newer apartments are overpriced.  One example.
You can buy a year old apartment in Meriton's Soleil as follows:

• 93 sqm internal
• No balconey
• Air conditioning not ducted
• 2 bedrooms, 2 bathrooms
• Facing West, so hot in the summer
• General views of an ugly part of Brisbane
• Large, impersonal building, used as a hotel
• Your neighbour may be an Eastern European hooker or a football team on tour
• Price = $629,000 (apartment 4403) - $6,763 a sqm

Or you could buy an apartment in River Place:

• 113 sqm total
• Massive balconey
• Riverfront
• 2 bedrooms, 2 bathrooms
• Outdoor pool overlooking the river
• Price - $659,000 (apartment 54) - $5,831 a sqm

Or you could buy an apartment in Quay West:

• 130 sqm total
• Two balconies
• Ducted air-conditioning
• About 130 apartments in building
• Views of botanical gardens
• 2 bedrooms, 2 bathrooms
• Price - about $600,000 - $4,615 a sqm

It will be interesting to see what this apartment sells for in Admiralty One:

• 130 sqm in total
• Balconey
• Direct riverfront
• Ducted air-conditioning
• 2 bedrooms, 2 bathrooms, separate laundry room
• North Eastern view
• About 120 apartments in the building
• Auction -- there has not been a similar apartment sold in this building for years.

Why would you buy in Soleil?  Or in some of the currently marketed off-the-plan developments, when some of the "older" apartments are cheaper on the price per sqm basis, and in better locations?

Shop Amazon Gift Cards - Try Amazon Birthday Gift