Kiwiroos#1 Posted :
Monday, 1 October 2012 12:30:06 PM
I have a work colleague who has owned a unit on the Gold Coast as an investment for 15 years. It has not performed well, but is valued at more than purchase price, albeit not by very much. Coupled with the costs involved of keeping it, including recent furniture replacement (it is a fully furnished unit) and body corpoarte fees, it really has become an underperforming investment. At this rate, it will not provide the retirement amount sought. My question is, should he sell now, pay the capital gains tax applicable, and re-invest in a better suburb? I'm not sure what suburb it is in, but I see a huge increase in growth in Currumbin, which may indicate an increase for units generally throughout the coast, or is there still an oversupply problem for units on the coast?