properties did drop 50 % in Ireland, page-32

  1. 278 Posts.
    More than happy to discuss as i have said before my view is longterm good houses in the major cities will always be safe (longterm) by that i mean ,

    Purchasing property to live in = no brainer, cant lose once ability to make repayments dont change ( loss of job etc)

    Purchasing house as an investment = too much risk for the reward in my view. In my view australia could be at the peak of an up cycle ( possibly not ) but not a risk i would be willing to take for the return.
    Rental returns dont justify the risk for me.
    If the was a downturn i would batten down the hatches and tread water till it improves ( which i think australia would rebound very quickly from any downturn) and most of all dont get caught up in media hype and sell in a falling market. ( look at the longterm in property)

    Many made that mistake in ireland only to see the properties they panic sold at a loss recover to be worth as much today.

    Purchasing units as an investmemt= pure insanity!!!! Unlike your house which you did a reno and added value there is no opportunity to add value to a unit.
    Rates, body corporate etc etc = more cost

    Also when selling a house you have a big potential market.
    Young couple
    Young family
    Middle age family
    Young professional
    Retired couple
    Investor etc etc

    Selling a unit,
    Young couple
    Young professional
    Investor
    And possibly but doubtful
    Retired single/couple

    The reason i purchased in ireland was very good return and also buying after a major crash .

    Buy low , sell high
 
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