By me inside of city means up to 300km, and outside of city is, depending of the direction, either 3km to the water, 50km inland, or 200km north or south. 4 hours gets you to the mountains, where you can go on holiday for under 100 Euro per person per night, or go to the game 5 star camps for the same price.
It's not people buying all the real estate, it's institutional investors. They figured out lending their money for profit is risky, while houses just increase in value whatever happens. Note that they don't buy it to lease it to someone to live in, they will be perfectly fine with it being empty for 20 years... But there is too many of them doing this cheat, and it is collapsing the market and will lead to a crisis worse than 2008 :(
that would make sense if (in this case) it was actual land property they were buying... buying apartments just seem like such a lesser/riskier investment in comparison
They prefer to have "good tenants" to at least cover the running costs, while leaving the property to grow in the bubble. Thus you have hard to find places, and the prices are high to rent.
Worth noting that Australia's property does not require money laundering or terrorism/crime proceeds checks or reporting. So it is world leading as a way to launder money. If you are a foreign kleptocrat you can get a "significant investor visa" thrown in while laundering money.
Oh I thought that title belonged to us Germans, because that is a common complaint here as well, since we haven't become fully surveilable yet by going full electronic money and still mostly pay for our stuff in cash.
You have to do that here in South Africa, yet there are many ways to skip those sorts of check, just costs a little more up front in the form of "cooldrink" to make it so.
@@ignispurgatorius5297 just about every other $10k or higher transaction has anti money laundering/terrorism reporting requirements, so if it seems sus, then it has to be reported. But not property: you can rock up with a trunk full of blood stained $100 notes, peeling them off bags of cocaine and the real estate agent has no legal requirement to report it. It's insane.
And when you get big weather events with high winds, you get to lie awake in your high rise apartment with buidling sway and the wind screaming though the gaps in the balustrades. Then the fun when someone burns a bit of toast at 3am and it sets off the fire alarm, so you can all go stand out in the street until it is all clear! After the Opal tower debacle in Sydney, you would have to be very brave (stupid?) to be buying off the plan into one of those developments.
@@EEVblog2 Especially with builders who are ever more cost cutting, and who form a company for the bu8ild, which vanishes right after, leaving nothing behind asset wise to claim against for defects, so the owners, bond holder banks and public get to pay for the repairs or demolition.
Here not many poisonous snakes, they get eaten by the local mongoose, and the survivors get eaten by the Vervet monkeys. no fancy bin chickens though, just regular grey ones, plus also Mynah birds and a lot of ringneck parrots.
In a lot of places in the world it is significantly more desirable for the wealthy to live in an apt. vs a house. Mostly because it is much, much safer.....
I live in a town with a population of 5000 just a couple of hours from Dubbo. A builder sold his 12 month old house down the road for 1.5 million 2 months ago. I saw the guy who I assume is the new owner a few of days ago, he looks to be a single guy in his 60's. Why someone like that wants a 5 bedroom McMansion in the middle of nowhere is anyones guess. Houses like that used to sell for $650K just a couple of years ago.
People are fleeing the city's post lockdown and they don't care if they pay 1m plus they use all sort of shady tricks that they are used to such as offer more than the asking price ect that's why a lot of the time the locals can't compete because in the city that's standard practice
If had to take out a loan it doesn't make sense at all . But If he had the money from the sale of his previous home (Sydney) then investing in your home precludes you from paying capital gains tax. If the owner needs to go to a retirement home he can sell up & pay for his retirement accommodation.
Maybe some sort of visa scam for an investment visa. Found or invest in a company which buys one of those appartement. Price has to mach your investment obligation for the visa... Seems like a dumb choice, though...
Probably the same people buying these as the ones buying similar properties in London - money launderers in Russia, Saudi etc. They won’t live in them.
Nashville TN is getting this way. Not to this extreme. Nashville is a city of 750,000 people. All the crazy low rent sections of the city are being razed for new box-shaped flat roof apartments. My only question is, where is the money these people have to buy these houses and apartments coming from? Are they that nuts to put this crap on credit for many decades just so they can live that rich lifestyle? I live in a town about the size of Dubbo. The real estate market is getting insane here, too. I saw a dump of a house built in the 1920s with a bad roof and rotten wood siding on a 1/8 acre piece of land go for $325,000. Ten years ago, it would have sold for $40,000. A fifteen year old subdivision in town had lots going for half a million. Now, with a house, they're getting $2.75 million on a 1/4 acre piece of land. I don't get it. Oh yeah, the rent for my apartment went up 55% in 10 months. So if I rented this apartment today, I'd pay 55% more than 10 months ago.
Is there a big multinational building a headquarters in Dubbo? I know in a place I lived in a big computer company relocated out of London and several developments of "executive flats" popped up because they thought the bigwigs from this company would be looking for flats. I think a couple got sold to the company for their executives, but a lot stayed empty for years before they got converted into smaller units.
Some people just prefer apartment buildings to detached houses. Less hassle when something breaks, just call the administration and they get it fixed, you don't have to think about it. As for the prices, well, there are quite a lot of wealthy people in the world. I can buy a phone which I like and not fuss too much about the price. Some people can just buy a house or an apartment because they like it and not fuss about a few hundred thousand dollars. Lately I installed a projector worth three times as much as my car in a house a certain dentist uses just for parties and to get some time away from his family. There's also the investment angle, not to mention most people buy a house once in their lifetime, it's not a commodity for most.
How long are they even going to have those views, anyway? If a building like that is selling out, you've got to assume there's more coming. And they'll be taller, so they can sell views over THIS building. 🤪
I was about to say that's not much, my friend's parents paid $1.8M for their unit when they were downsizing a few years ago, but $1.5M in DUBBO? That's just taking the piss.
I couldn't live with someone living above, below, side by side to me with a shared wall. I rather take those hectares for the same price or less. The less I see of my neighbors the better. It's the same in the US. Millions of dollars to live in a city apartment or 500K for 5 ha and a 550m2 house in the countryside.
The CCP members hiding their wealth and corporations betting with them nobody will stop the flow of cash from forced organ harvesting drug dealing slave labour and concentration camps.
Do you have something like a mandatory inhabitants-owner-association in apartment buildings? Here in the Netherlands we have these, you pay a fee for future maintenance, for instance new roofing would be paid together by all inhabitants, so you safe up money for maintenance. Or painting exterior etc. Such an association is mandatory, you have to register it.
Don't forget the probably $1,000/month assessment on top of the mortgage payment. Which will someday get bumped up to cover a multi-million-dollar rehab when the building someday suffers from concrete spalling.
The prices might be banks buying/selling these things in between themselves so they can "ask" for more from the real people... you know: "I have a 'buyer' who pays 1.5M for this, what's your offer?"
@@markm0000 Not really - but when I ask myself why and how such high prices might happen, that's the first thought I have. With apartment buildings, usually some financing bank is the original owner. If the flats don't sell, people will ask why and the price plummets. Easy solution: sell to another bank at whatever rate and buy one of their apartments for the same amount. zero-sum game and both banks now have some numbers to show and brag about. Weird ways of shuffling money around is totally a thing in banking sectors, according to recent news, so I wouldn't be surprised if I'm close to reality...
It’s everywhere in the USA as well, it’s a super-bubble of irrational exuberance… the next crash is going to be painful…. Housing prices have been increasing 20-30% or more every few months for years, where a $30,000 110 year old 500sq/ft home with 2 wire electric and no insulation, zero land goes for $750,000 less than 10 years later, and that’s the average…
i always wanted to spend a 1.5mill on an apartment overlooking the boring ass Dubbo!... its a nice place to visit...but id never live out there... new apartments being built in my street here in port macquarie.... they all sold (off the plan) for around 1mill a pop..... and ya get water views! with 5min walk to river. 15min to the beach (2min by car!)
The answer isn't hard, especially that Dubbo might be nice place to live, but it is in the middle of nowhere. Literally, nowhere (at least to me). Looking at the map, it's next to the desert. This comes with some challenges and possible problems in near future. If I would ever consider it as place to live, I would have to buy chunk of land to do all the fancy stuff ... chase crocodiles, get bitten by some friendlies local animals (spiders, snakes) or have some nice herd of sheep on my land. Btw. I'm located in eastern Europe so my view might be biased. Otherwise, paying $1.5M (around 1M EUR) for any living space without the land with extra recurring costs is insanity. You can grab some nice land and house somewhere in Europe or North America for that money. It won't be probably 10ha, but still good. It looks as next tulip mania to me.
Cafe lifestyle with the poddle in the handbag lol , i call them flats . If you call the a penthouse you can get an extra million on top of sale price .
A nice house like one of those examples in Dubbo (flashy modern architecture, good condition, roughly 250 m²) costs around 2.5 to 3 million Euros here in my town in Germany (a cozy town with 150k inhabitants). That would be 3.9 to 4.65 Australian Dollars. But of course you'll only get a 200 m² back yard and no pool...
@@EEVblog2 Contrary wise, here in South Africa you will easily pick up that exact same sort of house, in a major city, for under $200k Aus. If you look at the smaller coastal cities near me you will pay $400k for one of the eco estates off plan, or the other way $100k for similar. $1 million Aus got my sister a beachfront property, literally walk from the garden on to the beach. 2 bedroom, lounge, dining room, open plan kitchen, large patio, 2 car garage, 4 extra covered bays, live in servants 2 room flatlet, plus separate laundry room, and complex has tennis courts, swimming pool and entertainment area.
I would speculate that someone's looking for a store-of-value and doesn't trust Bitcoin yet. The logic is probably that taxes+strata is going to be substantially less money and effort than taxes+upkeep on a large property.
I don't get it either, or even just big city high rise living in general. Definitely not how I'd want to live. I definitely would not pay even 200k for that place let alone 1.5 mil :o. Yeah, it looks fancy but I can also have a regular house that looks that fancy. You still don't really own it, like the building itself is not yours and there's no yard or real property to go with it. Yeah nah. Heck even my current house, I find my property kind of small. I'd like to build a garage, greenhouse, maybe chicken coop etc and I have no room for any of that. Costs of living keep going up too so I recently bough 40 acres outside of city limits, has cheaper taxes and no building permits required. So I plan to eventually build there and move and be off grid. Way less bills. I can build it as fancy as I want really. If I want to build a 5000sqft house nobody is going to stop me.
I wish my family had kept the family home in sydney when we left in 1989 - not that I had a choice in the matter, but the money from selling that house bought sweet FA back then. get 800k for it now.
I've no idea what a Leadhold is, but in North America, and I presume in Australia, a Strata is an organization that owns and is responsible for common areas and building exterior, in a shared structure, such as an apartment tower or townhome complex.
@@AndrewFremantle I think he meant leasehold, i.e. the land is owned by (usually) a property developer and leased on a fixed term to the homeowner (often for 99 years)
Lol... that's further out than Minyip from Melbourne. For those that don't know that was the town for Coopers Crossing in the Australian TV series Flying Doctors, and in that series they already called that "The Outback". 😱😅🤣 Housing prices are seriously fucked up all around the globe as is everything else. All must soon come to an end in a Big Bang one way or another. 💥
IF one input of an op amp is $1.5 million, the output of the op amp will do what is has to to make the inputs equal. Sound good, Daiyve? "Look at the crapper you get for $1.5 million".
Nah leave most of it as trees just clear an area big enough for your needs. I just bought 40 acres myself, need to decide where I will want to build then start clearing land. I don't have equipment and renting is pretty expensive, so I will probably hire that out. I might clear like 1-2 acres at most.
Mate take a look at Rainbow Beach, QLD. In the middle of nowhere and house prices are nuts! I think we are in for a huge "market correction". There is no way the salaries or the lending criteria can maintain prices like this. Banks still have to lend money and will have to make it easier to meet the criteria. I would not be surprised if we see the same real estate issues we had in the US a few years back. (Folks walking away from homes due to the loan being more than the house is worth). Insane!
My money (!) would be on Chinese investors. There's a massive housing "investment boom" been going on over there so guessing they have expanded their reach. The guy who does "serpentza" yt channel has mentioned it a few times Just speculating !
in Europe: outside of city means like up to 20km
Dave: outside of Sidney - 300km
By me inside of city means up to 300km, and outside of city is, depending of the direction, either 3km to the water, 50km inland, or 200km north or south. 4 hours gets you to the mountains, where you can go on holiday for under 100 Euro per person per night, or go to the game 5 star camps for the same price.
It's not people buying all the real estate, it's institutional investors. They figured out lending their money for profit is risky, while houses just increase in value whatever happens. Note that they don't buy it to lease it to someone to live in, they will be perfectly fine with it being empty for 20 years... But there is too many of them doing this cheat, and it is collapsing the market and will lead to a crisis worse than 2008 :(
that would make sense if (in this case) it was actual land property they were buying... buying apartments just seem like such a lesser/riskier investment in comparison
There's a documentary called PUSH on this topic. It's worth a watch IMO.
Might make you "Pro real estate tax" :-)
It's kinda happening in China rn with Evergrande
This is what started the big bang.
They prefer to have "good tenants" to at least cover the running costs, while leaving the property to grow in the bubble. Thus you have hard to find places, and the prices are high to rent.
Worth noting that Australia's property does not require money laundering or terrorism/crime proceeds checks or reporting. So it is world leading as a way to launder money. If you are a foreign kleptocrat you can get a "significant investor visa" thrown in while laundering money.
Oh I thought that title belonged to us Germans, because that is a common complaint here as well, since we haven't become fully surveilable yet by going full electronic money and still mostly pay for our stuff in cash.
You have to do that here in South Africa, yet there are many ways to skip those sorts of check, just costs a little more up front in the form of "cooldrink" to make it so.
@@ignispurgatorius5297 just about every other $10k or higher transaction has anti money laundering/terrorism reporting requirements, so if it seems sus, then it has to be reported. But not property: you can rock up with a trunk full of blood stained $100 notes, peeling them off bags of cocaine and the real estate agent has no legal requirement to report it. It's insane.
@@--Nath-- Yea, it's pretty much the same here. Apparently the mafia is quite fond of buying houses and reselling them to launder money.
@@ignispurgatorius5297 A great way to rebrand yourself as a property mogul! Oh I made my fortune in property!
And when you get big weather events with high winds, you get to lie awake in your high rise apartment with buidling sway and the wind screaming though the gaps in the balustrades.
Then the fun when someone burns a bit of toast at 3am and it sets off the fire alarm, so you can all go stand out in the street until it is all clear!
After the Opal tower debacle in Sydney, you would have to be very brave (stupid?) to be buying off the plan into one of those developments.
Yes, only a fool buys off the plan.
@@EEVblog2 Especially with builders who are ever more cost cutting, and who form a company for the bu8ild, which vanishes right after, leaving nothing behind asset wise to claim against for defects, so the owners, bond holder banks and public get to pay for the repairs or demolition.
They pay premium to not have a large garden full of spiders. 🐍🦎🐊🦂🕷🐞🐛
Here not many poisonous snakes, they get eaten by the local mongoose, and the survivors get eaten by the Vervet monkeys. no fancy bin chickens though, just regular grey ones, plus also Mynah birds and a lot of ringneck parrots.
ASTERISK: ARTIST'S IMPRESSION!
ASTERISK: INDICATIVE ONLY!
8:44 - even if it's a dryer - not a washing machine.... THAT'S FCKN ODD place for it! But then again... most popular place in old dat is a kitchen...
"look how happy are these non playable characters" hahahaha
NPCs for property is anyone under 50.
NPC drug dealers
In days of old before elevators, luxury apartments were on the lower levels. After elevators, the luxury apartments moved to the top floors.
In big stately homes in the UK the servants quarters used to be on the top floors.
In a lot of places in the world it is significantly more desirable for the wealthy to live in an apt. vs a house. Mostly because it is much, much safer.....
Except russia where the elevator breaks, the roof leaks and it's a problem just for the top flat.
@@benbaselet2026 Sounds like China, as well!?
@@benbaselet2026 Many places the same, I lived on the 5th floor, and the movers in had to walk. When I moved out the same.
Come to New Zealand and you will get a 1960's, bora infested weatherboard, 3 bedroom with no insulation for one million if your lucky.
I live in a town with a population of 5000 just a couple of hours from Dubbo. A builder sold his 12 month old house down the road for 1.5 million 2 months ago. I saw the guy who I assume is the new owner a few of days ago, he looks to be a single guy in his 60's. Why someone like that wants a 5 bedroom McMansion in the middle of nowhere is anyones guess. Houses like that used to sell for $650K just a couple of years ago.
People are fleeing the city's post lockdown and they don't care if they pay 1m plus they use all sort of shady tricks that they are used to such as offer more than the asking price ect that's why a lot of the time the locals can't compete because in the city that's standard practice
If had to take out a loan it doesn't make sense at all . But If he had the money from the sale of his previous home (Sydney) then investing in your home precludes you from paying capital gains tax. If the owner needs to go to a retirement home he can sell up & pay for his retirement accommodation.
Senior government administrators on $500k have to live somewhere commensurate with their self importance.
Maybe some sort of visa scam for an investment visa. Found or invest in a company which buys one of those appartement. Price has to mach your investment obligation for the visa... Seems like a dumb choice, though...
Probably the same people buying these as the ones buying similar properties in London - money launderers in Russia, Saudi etc. They won’t live in them.
Nashville TN is getting this way. Not to this extreme. Nashville is a city of 750,000 people. All the crazy low rent sections of the city are being razed for new box-shaped flat roof apartments. My only question is, where is the money these people have to buy these houses and apartments coming from? Are they that nuts to put this crap on credit for many decades just so they can live that rich lifestyle?
I live in a town about the size of Dubbo. The real estate market is getting insane here, too. I saw a dump of a house built in the 1920s with a bad roof and rotten wood siding on a 1/8 acre piece of land go for $325,000. Ten years ago, it would have sold for $40,000. A fifteen year old subdivision in town had lots going for half a million. Now, with a house, they're getting $2.75 million on a 1/4 acre piece of land. I don't get it. Oh yeah, the rent for my apartment went up 55% in 10 months. So if I rented this apartment today, I'd pay 55% more than 10 months ago.
Wait this isn't Rossmann real estate
Eh close enough
the places are not falling apart OR as un-showable
Is there a big multinational building a headquarters in Dubbo? I know in a place I lived in a big computer company relocated out of London and several developments of "executive flats" popped up because they thought the bigwigs from this company would be looking for flats. I think a couple got sold to the company for their executives, but a lot stayed empty for years before they got converted into smaller units.
Nope.
Lots of regional government offices.
Back in August a 696 m² block of land went for $1.55mil in Port Macquarie Regional NSW
Some people just prefer apartment buildings to detached houses. Less hassle when something breaks, just call the administration and they get it fixed, you don't have to think about it. As for the prices, well, there are quite a lot of wealthy people in the world. I can buy a phone which I like and not fuss too much about the price. Some people can just buy a house or an apartment because they like it and not fuss about a few hundred thousand dollars. Lately I installed a projector worth three times as much as my car in a house a certain dentist uses just for parties and to get some time away from his family.
There's also the investment angle, not to mention most people buy a house once in their lifetime, it's not a commodity for most.
How long are they even going to have those views, anyway? If a building like that is selling out, you've got to assume there's more coming. And they'll be taller, so they can sell views over THIS building. 🤪
I was about to say that's not much, my friend's parents paid $1.8M for their unit when they were downsizing a few years ago, but $1.5M in DUBBO? That's just taking the piss.
if I had 1.5 million why the hell would I live in small apartment in dubbo ?
I couldn't live with someone living above, below, side by side to me with a shared wall. I rather take those hectares for the same price or less. The less I see of my neighbors the better. It's the same in the US. Millions of dollars to live in a city apartment or 500K for 5 ha and a 550m2 house in the countryside.
Same thing seems to be happening in the US & Canada as well. Who's buying it all? Easy, the people that have the money to!
The CCP members hiding their wealth and corporations betting with them nobody will stop the flow of cash from forced organ harvesting drug dealing slave labour and concentration camps.
Do you have something like a mandatory inhabitants-owner-association in apartment buildings? Here in the Netherlands we have these, you pay a fee for future maintenance, for instance new roofing would be paid together by all inhabitants, so you safe up money for maintenance. Or painting exterior etc. Such an association is mandatory, you have to register it.
yay another episode of Rossmann Real Estate... er wait a moment.. wrong channel.. Hurray another episode of EEV Real Estate.
Stupid negative gearing, it should be limited
Feels like 2008 All over again.
I am sure some Chinese investor must be buying it
A friend of mine described it as a horizontally oriented investment vehicle .....
Don't forget the probably $1,000/month assessment on top of the mortgage payment.
Which will someday get bumped up to cover a multi-million-dollar rehab when the building someday suffers from concrete spalling.
Flammable cladding, lead in the water, leaks, flooding, repainting, elevator maintenance.......................
Funny how Dubbo was used as a term of low brain power when Dave and I were school age - thopugh I believe it was only a term used in NSW!
It sounds like an Aussia term for double shot latte.
The prices might be banks buying/selling these things in between themselves so they can "ask" for more from the real people... you know: "I have a 'buyer' who pays 1.5M for this, what's your offer?"
Ah yes you must be here from Louis’s NYC rental videos.
@@markm0000 Not really - but when I ask myself why and how such high prices might happen, that's the first thought I have. With apartment buildings, usually some financing bank is the original owner. If the flats don't sell, people will ask why and the price plummets. Easy solution: sell to another bank at whatever rate and buy one of their apartments for the same amount. zero-sum game and both banks now have some numbers to show and brag about. Weird ways of shuffling money around is totally a thing in banking sectors, according to recent news, so I wouldn't be surprised if I'm close to reality...
@@atkelar this game is played by art-market as well where they play this buying game to make sure that art is priced high.
It’s everywhere in the USA as well, it’s a super-bubble of irrational exuberance… the next crash is going to be painful…. Housing prices have been increasing 20-30% or more every few months for years, where a $30,000 110 year old 500sq/ft home with 2 wire electric and no insulation, zero land goes for $750,000 less than 10 years later, and that’s the average…
Frankly its not that expensive if I compare it to Euro prices in Germany.
It's a college town, and it's away from large cities. People are tired of being backed into a small area. Still way overpriced.
"sub penthouse" LMAO, just a normal flat then
i always wanted to spend a 1.5mill on an apartment overlooking the boring ass Dubbo!...
its a nice place to visit...but id never live out there...
new apartments being built in my street here in port macquarie.... they all sold (off the plan) for around 1mill a pop..... and ya get water views! with 5min walk to river. 15min to the beach (2min by car!)
You think that's expensive? A 3 bed flat in Cambridge near a lake is listed for £1,250,000 (Aus$2,320,000)!
i am curious, do you have to pay extra for the spiders or do they come free of charge?
they keep the flies down !
Please make a tour video of the Mad Max museum in Silverton NSW when they open up again. Real estate insanity.
didn't they recently auctioned most of the vehicles?
In my area, houses are up 50% YoY, you can't buy a house for much less than $2m USD.... And most go for 10-15% over asking.
It's almost like the more you pay is some sort of "flex", is absolutely stupid way to think.
7:30 That car parking ferris wheel ad looks cool.
dont look that the midwest usa house prices
The answer isn't hard, especially that Dubbo might be nice place to live, but it is in the middle of nowhere. Literally, nowhere (at least to me). Looking at the map, it's next to the desert. This comes with some challenges and possible problems in near future.
If I would ever consider it as place to live, I would have to buy chunk of land to do all the fancy stuff ... chase crocodiles, get bitten by some friendlies local animals (spiders, snakes) or have some nice herd of sheep on my land.
Btw. I'm located in eastern Europe so my view might be biased. Otherwise, paying $1.5M (around 1M EUR) for any living space without the land with extra recurring costs is insanity. You can grab some nice land and house somewhere in Europe or North America for that money. It won't be probably 10ha, but still good. It looks as next tulip mania to me.
no crocs in dubbo. they are up in Darwin, NT
Probably bought by Chinese or Russians. That's what happens to all the houses in London that are like this. Half of them are empty
Cafe lifestyle with the poddle in the handbag lol , i call them flats . If you call the a penthouse you can get an extra million on top of sale price .
A nice house like one of those examples in Dubbo (flashy modern architecture, good condition, roughly 250 m²) costs around 2.5 to 3 million Euros here in my town in Germany (a cozy town with 150k inhabitants). That would be 3.9 to 4.65 Australian Dollars. But of course you'll only get a 200 m² back yard and no pool...
I click the Heart button on this post, but it should be an Angry Face button or something.
@@EEVblog2 Contrary wise, here in South Africa you will easily pick up that exact same sort of house, in a major city, for under $200k Aus. If you look at the smaller coastal cities near me you will pay $400k for one of the eco estates off plan, or the other way $100k for similar.
$1 million Aus got my sister a beachfront property, literally walk from the garden on to the beach. 2 bedroom, lounge, dining room, open plan kitchen, large patio, 2 car garage, 4 extra covered bays, live in servants 2 room flatlet, plus separate laundry room, and complex has tennis courts, swimming pool and entertainment area.
Does it have a 4th floor or not. That will tell you who they intend to buy these things.
Dubbo or Dumbo?
It's an investment; when prices go up by 200% over the next 5 years, that's $3.5 million profit
The one down vote is from the person who bough the apartment...
They'll say that it is in ''the larger Sydney area''
They are going to have a lot of visitors downstairs in their building visiting the shops.
It's global mate. Look at Charleston South Carolina USA
Q: Who would pay this?
A: any bank that is promised a guaranteed income by the national bank.
The owners: we tried..
Love how sat images
just remind me of simcity..
Probably works great for impressing Tinder dates or something...
I will stick with our 240 sq meter house with yard for $96k
CCP
I would speculate that someone's looking for a store-of-value and doesn't trust Bitcoin yet.
The logic is probably that taxes+strata is going to be substantially less money and effort than taxes+upkeep on a large property.
But TWO $750k houses on a large parcel of land is WAY better "store of value" than one $1.5M apartment paying strata fees forever.
@@EEVblog2 I would agree. But I'm not an overseas absentee owner who wants to expend zero effort dealing with property maintenance.
Bathurst, only know that town from too many Mighty Car Mods and SkidFactory
Where's the rendering of the boat? This place is in a flood zone.
Maybe the developers 'buy' them as a promotion for the other units?
I don't get it either, or even just big city high rise living in general. Definitely not how I'd want to live. I definitely would not pay even 200k for that place let alone 1.5 mil :o. Yeah, it looks fancy but I can also have a regular house that looks that fancy. You still don't really own it, like the building itself is not yours and there's no yard or real property to go with it. Yeah nah. Heck even my current house, I find my property kind of small. I'd like to build a garage, greenhouse, maybe chicken coop etc and I have no room for any of that. Costs of living keep going up too so I recently bough 40 acres outside of city limits, has cheaper taxes and no building permits required. So I plan to eventually build there and move and be off grid. Way less bills. I can build it as fancy as I want really. If I want to build a 5000sqft house nobody is going to stop me.
I've heard of Dubbo! Home of Lucky Keizer, the guy who lopped two cylinders off a RR Merlin engine and built a motorbike around it.
Different scenario but I seen a 2 bed flat in London, outdoors looked like counsel housing here 10mil
I wish my family had kept the family home in sydney when we left in 1989 - not that I had a choice in the matter, but the money from selling that house bought sweet FA back then. get 800k for it now.
What does FA stand for? Too many abbreviations these days.
@@chao5s fluff-all
15:04 Strata, is that similar to leadholds in England?
I've no idea what a Leadhold is, but in North America, and I presume in Australia, a Strata is an organization that owns and is responsible for common areas and building exterior, in a shared structure, such as an apartment tower or townhome complex.
@@AndrewFremantle I think he meant leasehold, i.e. the land is owned by (usually) a property developer and leased on a fixed term to the homeowner (often for 99 years)
Lol... that's further out than Minyip from Melbourne.
For those that don't know that was the town for Coopers Crossing in the Australian TV series Flying Doctors, and in that series they already called that "The Outback". 😱😅🤣
Housing prices are seriously fucked up all around the globe as is everything else. All must soon come to an end in a Big Bang one way or another. 💥
Either that, or they keep climbing. Or they stand still while salaries catch up.
The interiors of some of those houses are hideous beyond belief
The good thing about houses is it's easy to change things like floors
IF one input of an op amp is $1.5 million, the output of the op amp will do what is has to to make the inputs equal. Sound good, Daiyve? "Look at the crapper you get for $1.5 million".
Dave what about live work , work spaces suitable for medium shop equipment like table saw etc.
That's called a house with a big garage.
what goes up... must keep going up until it goes down.
Why would someone buy one of these? Tax breaks.
Where do you get the raffle tickets
Don't worry: Many residences will become vacant soon...
Whoa! Beverly Hills is expensive... for some reason...
Location... Location... Location.
Sounds like money laundering.
imagine mowing the lawn on 48ha. No thanks i'll pay strata fee's and have people upkeep things.
near zero maintenance
Nah leave most of it as trees just clear an area big enough for your needs. I just bought 40 acres myself, need to decide where I will want to build then start clearing land. I don't have equipment and renting is pretty expensive, so I will probably hire that out. I might clear like 1-2 acres at most.
I wonder if they would let a electronics engineer rent out that space lol oh wait I forgot we are all poor anyway.
It looks like the control tower for the park.
Mate take a look at Rainbow Beach, QLD. In the middle of nowhere and house prices are nuts! I think we are in for a huge "market correction". There is no way the salaries or the lending criteria can maintain prices like this. Banks still have to lend money and will have to make it easier to meet the criteria. I would not be surprised if we see the same real estate issues we had in the US a few years back. (Folks walking away from homes due to the loan being more than the house is worth). Insane!
My money (!) would be on Chinese investors.
There's a massive housing "investment boom" been going on over there so guessing they have expanded their reach.
The guy who does "serpentza" yt channel has mentioned it a few times
Just speculating !
make me sad for all of us
Yeah...nah!!!!!
try buying anything in toronto.
sub penthouse = not the penthouse
doctors with lots of $$$ and no time for a property maybe ? ... how far is the hospital ?
$750k pocket change buy you lots of lawn mowing and the maintenance guy.
@@EEVblog true that ... Not saying it makes sense, but who else in Dubbo can afford that?
to get out of cbd lockdown in all the stats of oz
NO Wukkas...
It's all bout area
LOL at "NPCs" 😄
Got go down some stairs or elevator to visit your views.
Real Estate wankery.
I like the theme, Dave. It is a matter of taste, after all. Whether it’s valued correctly, that’s a different story.
I would buy Shiba Inu for 1.5 million and sell them at 3 million
Australia so big
Yeah it's bloody big enough to fit in the entire United Kingdom.
@@joeltyler3427 LOL. The UK is only 242,495 km². Australia is 7.692 million km²
Big enough to fit UK between dubbo and Sydney
@@joeltyler3427 fit about 32 United Kingdoms in Australia, fit about 5 Australia on the moon
soda sopa
crikey!