DECISIONS DECISIONS DECISIONS!!!
Choosing the right floor in a high-rise apartment is crucial - determines how much you pay and future cash flows. Research is a must but your due diligence is waaaaayy more important when you sign a contract with a developer before it is even built!
- Lower floor - could be easier to get a respectable rate of return
- Higher floor - could get premium returns but risk when there are larger projects and the view from an apartment can be fundamentally the same on the 12th and 30th floors. You might miss out on the cachet of being on the top floor, but you'll pay a lot less on the 12th.
The off-the-plan market relies on the perception you can pay today's prices for an apartment that will be worth more when it is finished - the theory is that the market will have moved up a gear by then.
That can be the case, but there have been situations in which unit owners have lost views because another building has gone up next door. Such an eventuality can pull down values even before you get the keys.
It is vital to talk to the relevant council, not just the developer, before buying off the plan.
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