qld apartment glut!!!, page-3

here in geelong they started building apartments down at the waterfront.....the latest development had units at a starting price $550k up to penthouse price $2.0m.....maybe reasonable in a good position within a capital city, but take a look at average prices in this regional city and youll notice quite the discrepancy

needless to say developer is now in administration

http://www.geelongadvertiser.com.au/article/2011/02/01/240081_news.html

should have learnt his lesson, same thing happened with the apartment development next door to him a few months earlier

http://www.geelongadvertiser.com.au/article/2010/04/28/168001_news.html