The house in Melbourne Chinatown is too expensive! How much money does it make in Melbourne, especially in Melbourne's CBD, especially in Chinatown in CBD?
A: you can earn $3000000 in five years! 15000000 yuan!
That's a four-story building in Melbourne's Chinatown 11 Heffernan Lane.
The four-story building, built in 1891, is also a century-old building that has experienced vicissitudes. It had operated a Chinese restaurant for many years, but later turned it into a GT Internet cafe.
In 2013, Little Laneway Property Group bought the whole building for $two million nine hundred and fifteen thousand.
Last week, the building was auctioned, involving seven interested buyers, including architects, hoteliers, fashion retailers and so on, four of whom were from Asia.
During the bid, the remaining six buyers sold for A $5.54 million, but a local private investor later offered a $6 million offer. He went on to raise the price twice and finally took the building for A $6.3 million.
In other words, in just five years, the building from $two million nine hundred and fifteen thousand to $6.3 million, double the price, the original owners do nothing, five years to earn nearly $3.4 million!
I have to say, Chinatown's house, it's worth it! It's not only valuable, the rent is rather expensive.
The eight-year lease for GT Internet cafes costs $213,075 a year, and a fixed 4% increase a year, nearly $10, 000 a year alone!
Land taxes, the depth of the buyer's market, and strong interest from Asian buyers have all contributed to the explosion of Melbourne's CBD permanent property, (freehold), according to real estate agents.
"so far this year, CBD has sold 12 of these properties, compared with just six of CBD's last year."
No wonder the trenches like to invest in real estate, is really lying down to make money ah!