What property you get for $1m in Melbourne CBD

Ever wondered what kind of property you can get in the Melbourne CBD for a cool $1 million ? Being a very built up area, houses are practically non-existent but there are many luxurious apartments to choose from.

Here are some examples of million dollar apartments ..

1. This 3 bedroom property on St Kilda Road is listed at $995,000.



2. You can still get a three bedroom penthouse property with skyline views in Melbourne for just over a $1 million.



3. This inner city three bedroom Melbourne penthouse is on the market for $995,000 and is around the same size as what you can buy in Darwin.



If you are living overseas or interstate and interested in buying or renting a particular property in Melbourne, Melbourne Ahoy can help ! We can conduct a property site visit and produce a detailed customised Property Profile report to set your mind at ease. To find out more, visit our services page here.

The Australian Property Real Estate Journey - From Renting to Buying Your Dream Home !

Now that you have arrived in lovely Melbourne Australia, where will you stay? 

Well, this is a problem easily resolved if you have close family or friends that you can live with - while you patiently search for your dream home. But for many newcomers to Melbourne, this can be a lengthy and stressful process.

There are basically 4 phases (maybe less if things go extremely smoothly or if you have lots of spare cash!) that most immigrants go through in their initial years of life in Melbourne …

• Temporary accommodation

o   It is a good idea to give yourself some time to get to know the city before committing to a rental lease - which is likely to be 6 to 12 months with penalties for breaking it early.

o  Motels / hotels are expensive options so a more practical alternative would be short-stay apartments. This can easily be arranged prior to you arriving in Melbourne.

o  I personally stayed in a short-stay serviced apartment close to the city for about a month while I settled in at work and went about searching for a rental property

• Short-term rental property

o   At this point, you still don't really know Melbourne all that well and still undecided about which suburb/area to stay longer term.

o   However, serviced apartments are relatively expensive and you lease a cheap rental apartment while you continue your search for the ideal rental property.

o   Most likely this place will be in close proximity to where you work or around the main city area.

o   In my situation, I managed to find a place with a short 6 month lease which I moved out of when it expired. 

• Long-term rental property

o   Congrats! You have now decided on the area you want to live in and found a great rental property!

o   Many people (including yours truly!) will remain in this phase for quite a few years while they save up a deposit to buy a home.

o   After all, Melbourne house prices are very expensive relative to many other places in the world! (http://www.abc.net.au/news/2011-01-24/australian-houses-among-worlds-most-expensive/1915882)

o   There are also people who are perpetual renters who choose to invest their money rather than committing to a large mortgage!

• Home Sweet Home!

o   Even more congrats on really extending your roots and achieving the Australian dream of owning your own home! 

By this stage, you are most likely a very settled Melbournian who has decided to call this wonderful city your home. You may even be thinking of writing a blog to help others move and settle down here too! ;-)

Last but not least, don't forget to check out my brand NEW website - www.melbourneahoy.com.au - dedicated to all things about moving to Melbourne and life in general in the world's most liveable city !