I think you are referring to the Viridian apartments that are in...

I think you are referring to the Viridian apartments that are in receivership. The properties have been on the market for 2 years (with different agents) and have only recently started achieving sales. The operators are guaranteeing a Gross return of 6% which equates I think to circa 3%. To buy one of these properties in my opinion is more of an emotional purchase than a financial one.

I think we would all agree both the Sunshine and Gold Coast have seen a significant price correction due to the discretionary nature. In my opinion, we will see better counter cyclical buying opportunities over the next 3 years. In saying that if you have purchased in the last three years, have the glass half full attitude and pay down debt as interest rates are in a sweet spot for the foreseeable future.