Hey don't feel too bad as it's a very common story but few will ever admit it actually.
Often some areas or properties do go up far more in value and other times it can be luck.
How many stories you here of people buying in crap areas or places you would never like or live and the council changes the zoning and they all make a killing.
I do not know or need to know where you bought but these new apartments pumped all around the country will be in exactly the same boat if not worse when they actually ask their accountant.
No one will admit it though because they probably gloated when they bought it and said I don't care about the price I am not intending to sell and property never goes down.
You know this is off track but I asked a similar thing about a new car.
A Toyota ute holds better resale which everyone brags about and some buy them for that reason but you depreciate it over so many years.
When you resell it you often get more but you have to make an adjustment as the car is often depreciated lower than what you sold so you can owe back money.
My accountant said whether it holds more for resale or not,for tax purposes it works out about the same whatever you buy.Lower resale means more you claim.
Unless you can get some cash and fudge things of course.
One thing I find very common in society is very few people really know the true facts on any subject and actual true property returns on paper by an accountant is just a big one.
