Can you buy an apartment for half price?

Maybe there are some apartments selling for half the original prices but does that mean they are a bargain?

Go to any apartment auction and you will notice that some apartments are selling for well below the prices that some investors had paid for them off the plans. You have to ask the question were they sold too high in the first place?

It's the old rule that good property will always sell for a premium price and less desirable property will always sell for less. For the financially literate, and those investors with common sense and the inclination to do the research - there are always bargains in any market.

Many novice investors put the blame on the high pressure marketing, telemarketing and those little white lies told about achievable rents. Or was it just common sense left the room when greed entered?

Some people say there are just a lot of unwanted cheap and nasty apartments out there for sale. Like any undesirable property they achieve low auction prices. The upshot which you never hear (because it's good news not bad) is that decent size apartments with redeeming features (location, views, balcony and carpark), are achieving good prices! Did you notice the hearty bidding for those apartments at auction?