Apartments sell at Falls Creek at bargain prices
Full article here.
THE Victorian property market went on a downhill run yesterday when dozens of properties in the ski village of Falls Creek sold for a fraction of their retail price at a single ‘‘no reserve’’ auction that, at times, resembled a fire sale.
Developer and publisher of The Monthly Morry Schwartz made a dramatic exit from the alpine property market at the first ‘‘no reserve’’ Helmsman auction of real estate held in Australia.
Mr Schwartz and his business partner Callum Fraser sold 74 apartments and three retail spaces for $12.8 million: the most expensive a three-bedroom unit that went for $410,000, the cheapest a one-room bedsit that sold for $30,000.
30 G’s for a place on the snow!!!! 
Crap, I could afford a $30,000 1 bedroom apartment… Rent it out for like $20k a year lol…
Where was the heads up about this sale… I would have been down there lol.
They have been advertisin that sale everywhere!!!!
I didn’t think that they’d sell a bedsit for 30,000 but!!!!!
Really? I knew nothing about it. We could have put in $1000 each and really had a Shred Shred - permanently!
Why are people taking photos of my house?
A 3 bedroom place ($410,000) would go for at least 2 grand a week (5 night) 2 grand a weekend (2 nights) at the snow. 16 weeks of a season = 16*4, $64k a year on average, lets say $50k for the weeks you don’t get people in it… You could pay it back in 8-10 years on a loan… and have a place to go when you want to shred or even during the summer. Or hell, buy it and live in it for a season and sell it for $800,000… It’s probably worth it.
Pissed that I didn’t get to go buy a property.
Really? I knew nothing about it. We could have put in $1000 each and really had a Shred Shred - permanently!
That would be some Body Corporate.
MU