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If u had the money would u buy a condo?


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Had a mate from Sydney who sold his house in Australia 5 years ago for 500k to retire in Pattaya.....the same house would now be worth 1.2 million.....stick with what you know and can trust.

 

 

Ouch!!!!

 

I got a place in Coogee which i bought in the early eighties and many times I was going to sell.

Thankfully i never did and probably never will.

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[color:"blue"] Had a mate from Sydney who sold his house in Australia 5 years ago for 500k to retire in Pattaya.....the same house would now be worth 1.2 million.....stick with what you know and can trust.

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I can identify with that! over the last 10 years I have seen the value of my real estate rise by around 500,000 whilst I have led a humdrum existance watching time pass by. I would gladly pay the 500,000 to be able to turn the clock back on the 10 wasted years. Life's about living, it's not about dying in a big empty house. :: What is the true value of 5 years pleasure, in my book it's priceless, I suppose it does depend on your current age though.

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pe7e said:

[color:"blue"] Had a mate from Sydney who sold his house in Australia 5 years ago for 500k to retire in Pattaya.....the same house would now be worth 1.2 million.....stick with what you know and can trust.

[/color]

 

I can identify with that! over the last 10 years I have seen the value of my real estate rise by around 500,000 whilst I have led a humdrum existance watching time pass by. I would gladly pay the 500,000 to be able to turn the clock back on the 10 wasted years. Life's about living, it's not about dying in a big empty house. :: What is the true value of 5 years pleasure, in my book it's priceless, I suppose it does depend on your current age though.

 

what he should have done was go to Pattaya and rent out the house...a return of say 60,000 bht per month...he also had about 9 million baht cash so money was no problem,and live off the rent from the property.....btw he is having an absolute ball in Pattaya and he will no doubt never return to Australia....but...he could have had an extra $700k Aud if he was clever.

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Zorro said:

Had a mate from Sydney who sold his house in Australia 5 years ago for 500k to retire in Pattaya.....the same house would now be worth 1.2 million.....stick with what you know and can trust.

 

 

Ouch!!!!

 

I got a place in Coogee which i bought in the early eighties and many times I was going to sell.

Thankfully i never did and probably never will.

 

He had a 3 bedroom house at Cronulla right near the beach,and he sold just before the boom,and as you know the beachside suburbs fared the best...

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MisterBlonde said:

Had a mate from Sydney who sold his house in Australia 5 years ago for 500k to retire in Pattaya.....the same house would now be worth 1.2 million.....stick with what you know and can trust.

 

 

 

Thats easy to say in hindsight - care to guarantee your 1.2m houses will be worth say 1.6m in another 5 years time? Nobody knows thats always the risk. However in overall terms, I agree property is a relatively safe bet in the medium to long run.

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SingaporeSteve said:
MisterBlonde said:

Had a mate from Sydney who sold his house in Australia 5 years ago for 500k to retire in Pattaya.....the same house would now be worth 1.2 million.....stick with what you know and can trust.

 

 

 

Thats easy to say in hindsight - care to guarantee your 1.2m houses will be worth say 1.6m in another 5 years time? Nobody knows thats always the risk. However in overall terms, I agree property is a relatively safe bet in the medium to long run.

 

Yes i would guarantee it...property is cyclical and on average(in Sydney) doubles every 7 years...my mate sold at the end of many years downturn in the real estate market when a boom was on the horizon,but as i said he should have rented out.

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I agree with Mister Blonde.

 

You can absolutely bank on the Sydney property market.

 

Speaking of which when i go back to Sydney in winter I am intending on buying an investment property as i believe the market is flat now and will wait for the next up cycle in a few years time.

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Z, saw this on housepricecrash.com

 

April 10, 2005

SYDNEY homeowners are being forced to accept less than they paid during the property boom, with many of yesterday's auction sales below boom prices.

 

A luxury two-storey apartment at Bellevue Hill passed in on a vendor bid of $1.5 million yesterday, $970,000 less than the owners paid in August, 2003.

 

Deborah Vanderhoek of LJ Hooker Bondi Junction said she was confident of selling the 221sq m unit post-auction above the $1.62 million reserve price.

 

At that price, the owners are still facing a $850,000 loss on their $2.47 million purchase at the height of the property boom.

 

Also yesterday, a three-bedroom cottage at 6 Edith St, Leichhardt passed in at $585,000 ? $117,000 less than the owners paid only 18 months ago. Highest bidders Catena Rechichi and Jan Ekkelenkamp said the sluggish market was perfect for buyers.

 

"We don't think this property is worth more than $585,000," Ms Rechichi said. "This market is way down ? it's in a real slump.

 

"We have the power to negotiate and bargain for the price we want, so we are taking advantage of that."

 

On Dorothy St, Sefton, a modest three-bedroom home passed in at $305,000 ? $85,000 less than it traded in July last year. At Mosman, a modern three-bedroom townhouse passed in on a vendor bid of $1.3 million.

 

Bucking the downward trend yesterday was a North Bondi semi that sold for $1.4 million ? more than double the $659,000 price the owners paid in 2002.

 

Auctioned through McGrath, the stylish home at 8 Gilgandra Rd had been fully redesigned and rebuilt since it last traded.

 

 

The Sunday Telegraph

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