Spouting yet another “record price” for a piece of minor CBD commercial property, the writer revealed the purchase price, date of purchase and the recent sale price.
You don’t have to be Einstein to put the raw purchase price into the Reserve Bank’s inflation calculator and see the sale price is actually a 10 percent LOSS over the holding period. My raw calculations do not take into account purchase and sale costs. I did a quick add and subtract, and the loss crystallized at near 20%.
I know the building concerned. Sellers have had their long time vacant strata titles on the market for up to 3 years.
Hot market? Records?