Melbourne apartment market over supplied and maybe the Chinese who purchased most of them have woken up to body corp and council rate costs especially in the CBD. High rise buildings were designed for commercial purposes not residential the commercial buildings did not have heated swimming pools spas sauna etc that will need upgrading and some replacement. Cost to maintain lifts and replacement of 3 to 4 lifts will be in the millions one day and will the sinking funds be enough I doubt it
