Scene: Inner city, large excavation site with vibrant hoardings… a definite ‘build-it-and-they-willcome’feeling in the air…
“Wow, check out the plan for that brand-new apartment block! Architectdesigned, sun-drenched balcony, cool entertainment area, and a coffee maker in every butler’s pantry. Beyond chic. Gig economy, latte-sipping hipsters, start-up entrepreneurs, everything bright, light and white - what a lifestyle!”
So you’re tempted to buy a high-rise apartment? OTP, ‘off the plan’ of course - no getting out-bid at auction, but also no sizing up your neighbours before you move in.1 Let us hope that both the developer’s model of the building and the price asked are accurate. OTP can include premium mark-ups which incorporate not only government incentives to first-home buyers, but also tax benefits.2 Apart from these vagaries, other pricing forces can…