CBD property questions from my buyers and sellers are some of the most interesting aspects of my daily work. The number and type of queries I get asked is truly endless, so in this edition I'm addressing two key questions that people are asking right now about Brisbane CBD property ...

Q: "Why buy in the CBD when there are so many buildings going up in other inner-city suburbs"

A: The key is 'Location, Location, Location'. Near the city centre is not the same as in the city centre. If you have tenants then they want to be near where they work or study, and ideally be from home to work/study within a few minutes - and not have to catch a bus or train, no matter how few stops are needed.

Floorplan, size & price: New is always nice and fresh, but after a year or two, either living as owner or tenant, that 'new and fresh' feel often changes to a sobering 'practicality, size and floorplan' feel. A well-maintained established property with good track-record, larger size and room to move and live, is often a more attractive long-term option. Compare the price per m2 and you may get a real surprise - just because a new apartment is a suburb or two from the central CBD doesn't mean it's cheaper.

... and remember, a coat of paint and a few new appliances, furnishings and accessories won't cost you the world but can also make the world of difference to an apartment.

See below BEFORE and AFTER photos of a renovated 'Rothbury on Ann' apartment

Rental return: Do your homework very thoroughly! Check the rental history of the suburb, building and surrounding similar buildings. Not just the actual rent, but also occupancy rates are important. If you're considering a new building in an inner-city suburb, ask: what happens after the 2 year rental guarantee period finishes? The rents usually returns to being what the market is prepared to pay, which may be quite different to what you were getting til then, or the occupancy rates may drop.

...and last, but definitely not least ...

Brisbane CBD is Australia's most-wanted living address: Latest figures from realestate.com.au show that, over the last 6 months, more people were searching for apartments to rent in Brisbane's CBD than anywhere else in the country!

Q: "Would my CBD unit sell at a better price if it is in the short term letting pool or with long-term tenants?"

A: It's not a simple 'yes' or 'no' answer, but has many aspects to consider:

- Is the current long-term tenant tidy and the unit presents well? The first impression is often the most important, so if your property is well cared-for then this speaks highly of the tenant and also of the condition of the unit.

- How long is the lease? Ideally, a property with a long-term lease is best placed on the market approximately 2-2.5months before the existing lease expires. This way the unit can be marketed to both owner occupiers and investors.

- Lending: Banks tend to prefer long-term tenants and owner occupiers, so any potential investor may find it easier to obtain finance with a long-term lease in place.

- Having said all that, short-term leases do have their advantages. If it is leased through a building/property manager such as the Oaks Group, then, generally speaking, there may be more opportunities to show the property to prospective clients.

- Furniture Packages put in by the building/property management may become an issue if a buyer wants to move in and not use that furniture. The residual value may have to paid back to the property manager if it falls within the first 2 years of the lease period, and therefore affects the price.

... In a nut shell ...

if the rental return per annum is similar for both, the long term tenant is tidy, and either the Furniture Package is owned by the seller or there is no pay out (i.e. first 2 year lease period is over), then either option should achieve an optimal sales price.

YOUR questions? What's on your mind? Feel free to ask me your Brisbane CBD questions and I look forward to getting back to you. My 18 years of CBD property expertise provide a exceptional background and scope of information that I'm really happy to share with you - just ask!

(Source: Louise Moeller - HS Brisbane Property Marketing Consultant)