Interesting thread. I live in Hobart but looking to buy an apartment in CBD next year. Plan is spend half my time here, and half my time in Melbourne.
My general understanding is that CBD apartments are not the best option as an investment. As it won't be rented out, I would hope the capital growth over 10 years would be at least equal to inflation + holding costs (body corp, rates, land tax). Is that a reasonable expectation?
Also, how do I find out what the 'good' buildings are, ie construction quality of building, good amount of owner-occupiers. I have heard some CBD apartments are used as student accomodation with 10 people living in a 2 bedroom, that's the kind of thing I want to avoid.
This is the kind of apartment I like, any thoughts on the Nova building?
http://www.realestate.com.au/property-apartment-vic-melbourne-107222302