I have recently been considering purchasing a unit/apartment for myself in Mandurah ... somewhere on the canals close to amenities etc. My attraction is the low upkeep and proximity to perth witht he train line in place.
Currently there is a large number of apartments and units that have been on the market for extended periods of time, many built by developers who are having lots of difficulties off loading. This is especially prevalent in the $500k + market. The market seems to be reasonably stressed with some developers suffering.
I am considering coming in and making some extremely low offers on some of these apartments in the hope of picking one up for a hefty discount to current list price.
My questions to all is :
1 - Have you had any luck putting a lowball offer on a property in this area lately? 2 - Given the current market in mandurah, what do you all think is a reasonable starting point? An offer at a 50% discount to current listing price? or more?
Please note I do not intend purchasing as an investment, i plean on purchasing it as a holiday home.
