I've been starting to hunt for some apartments near Epping NSW and been looking at some newly built places (buying from developer). But there seems to be giant mark ups looking at recently sold apartments for similar configurations in the area.
We were quoted 1.48 million for a 3 bd apartment, but the agent soon said even a 1.25 bid he can help negotiate. The high rises especially seem to be asking well above the 1.4 million mark. However, it seems that the highest selling price in Eppingseems to be around the 1.2 million mark, with most of them being around the 1 million mark. We aren't necessarily looking for a brand new apartment. Just that most for sale in the area are new.
We aren't necessarily looking for a brand new apartment. Just that most for sale in the area are new.
Considering that the prices are only going to slide down in the current market, what would a reasonable strategy to bid be? Take 20% off? Take 200k off? Would an apartment that was in a low rise complex be an indication of a high rise apartment price?
Would welcome any general comments as well.