最近在一家地产公司实习，叫做Asset Management Team Pty. Ltd., 刚刚做了２天，觉得挺有收获的。为了避免忘记，决定作文以记之。不过都是些点，之间的联系到不是很大：

 

1. Capital return v. Rent yield.

Capital return = Sale Price after tax and other costs-Purchase Price

Rent Yield = Annual Rent income after tax/Purchase Price * 100%

 

There is a general rule in the real property market: The lower the Rent Yield, the higher the capital return. Why? One of the reasons is that houses(apartments) with high growth potential in value due to its attracting attributes are normally already priced much higher than other normal houses(apartments) within the same region, but their rent can not be much higher than the other's rent because they are at the some place and the renting market is very liquid.Many tenants are concerned with rental fees better than with the quality of the house(apartments) because they do not own the place ultimatly. Therefore houses(apartments) with high value growth potential bear high cost but cann't generate propotionaly high level of rent compared with the other houses(apartments). On the other hand, houses(apartments) with lower growth potential in value are normally old and/or small and have low purchase prices. However they are very popular in the renting market and the demand is high. Therefore they can generate a higher Rent Yield than luxury  houses(apartments).

 

2. Houses v Apartments

A genaral point of view, which I also held before, is that a house is of more value than an apartment is, providing that they are of similar sizes and in the same suburb, because by owning a house you also own the land and everything on it. But the ownership of an apartment only grant you the title to the space, or say air, within the walls of the apartments. The walls are even not yours because they are part of the building and belong to everyone.

 

However the figures that I have read so far demonstrate that this is quite not necessary and in many situations the reverse is true and reasonable. Some of the reasons, both from Antrew Tan's words and from my own analysis are listed below:

     (1). Apartments are safer than houses due to its integral security system and professional management and control by agents.

     (2). Many Apartment residents have access to other facilities such as gym, swimming pool, spa and etc. in there residential area, normally for free, whereas house residents do not.

     (3). Very good spot of land, such as those with sea views(一线水景）/Water views are controled by the land property developers．They would rather build buidings with many many apartments to sell rather than build houses which waste the vertical space of the very very good land. Hence apartments by more chances would occupy better positions and have better views than houses in neighbourhoods.

 

3. The growth potential in the value of a house depends on many factors including an important one which I had never paid attention to: The water pipes and other pipes/tubes/lines underneath the house in the ground. If unfortunatly your house is built on a water pipe, dude, your house's price can hardly grow. Because rebuiding a new house on your land will lead to huge costs and many problems including potential lawsuits. And you may  not be able to build a large single house on the land but rather two small ones to avoid problems.

 

4. Buying a house in Australia involes many legal issues, and hence there are solicitors from each party involved in the transactions, including developer, tender, agent and purchaser. They have very good pays and are very busy.

 

 

 

 

YDL真的很扯谈，现在感觉都是一厢情愿的事情罢了。其实很多事情都是人yy出来的，再加上心理暗示。那里有那么伟大的事情呢？人是现实的，听起来让人欣羡的完美，也许只是口中勾勒出来的虚幻吧了。即便可能曾有的真实，也经不起时间的考验。还是不要扯谈了，该面对的就要面对。别再72了。

被放在瓶子里的苍蝇之所以比被放在瓶子里的蜜蜂更能找到通向自由的瓶口，在于它有误打误撞的勇气。

有时候人要像只苍蝇一样，不死心眼儿单盯着一个看似光明的方向，

而是振动发达的翅膀，到处撞撞头。

未来就会在突然的那么一下，掌握在自己的手里。

 

至少Travelex Ltd, Asset Management Team Pty. Ltd, and Telstra Studentalk 可以先让我忙一阵子。

可是，我朝思梦想的“光明”，你到底是在瓶底，还是在瓶口呢？