That's been going on for 30 yrs and more.
Ever since land values were worth it.
Metro. Coastal. you look at what you put into a van Park. What you get out of it, and what you have to do to maintain it
7 days a week.
Then a wallet comes along and says . hello.... Interested??.
Most here would do the same too. if honest with themselves.
It's human nature.
House next door to Son in Moorabbin. Last weeK the HOUSE BLOCK alone.
sold for $1.3 mil.
That parks up near Borona,Croydon. Metro,
He'd have got LOTS of $$$'s for that paddock.
Unfortunately I have been in a position of managing a park where the owner had similar intentions.
However it has always been the rule of caravan parks that you do not have permanent residency so today I dont sympathise with anyone in that position...........even if you have been there 30 years you are aware that one day it may happen .......so always have a plan B.
No point fighting it a running off to the media with a heartbreaking story........better to save your energy and work happily to a new park and get on enjoying ones life.
__________________
I Remember It ...............All Too Well
Wherever the four winds blow. I'm restless, I'm ready
Most would have been hoping their next port of call would be in a pine box or jar. methink's.
Sad isnt it ........lets set up in a caravan park as a resident and hope to checkout before the money moves in.....
It may be a cheap option for many but a very scary thought...... I would always be planning a second .....or third option if anything was going to happen.
smaller regional areas are great options plenty of plusses out there
__________________
I Remember It ...............All Too Well
Wherever the four winds blow. I'm restless, I'm ready
Agree KJ. Home across from me was bought by Chinese (for a lot more than usual value) to be part of their "property bank" I had three offers in the same week for mine. (not enough to make it worthwhile though) My cul d sac has recently been rezoned to allow high density housing.
Perhaps large/corporate investors are the same irrespective of nationality. At one stage Japanese investors were reported to be buying up large amounts of property on the Gold Coast. They are mostly gone now and it seems that Chinese have temporarily replaced them. Who's next .. Russians or Indians or perhaps back to the Brits.
In any case it seems that the future for prime location CPs are destined to be targets Town Houses/ Resorts/ Time Share developments or the like where it makes economic sense.
Re.. Chinese investors
I have lots of Chinese neighbors & they make excellent members of the community.
They are very friendly & keep their properties in good condition as well as being active in many areas of the local community like Local Govt., School & Charity committees. Their children often succeed at the highest academic levels & are very courteous on public transport et al. Lots of Asian Doctors & other professionals as well as Real Estate Agents. Not forgetting the amazing range of Asian restaurants & 'supermarkets'. IMHO/experience they are usually good people who add to our society.
Of course I suppose that just like any society, they have their share of undesirable individuals.
As for Caravan Parks and permanent residents, the writing has been on the wall for them for years as property values rise. I feel sorry for them especially in the light of the lack of affordable alternative accommodation in Metro areas.
On a personal note we were relieved when a CP in our local area was replaced by good quality town houses. The crime rate including home break ins dropped immediately. Though they were probably caused by a small minority in the old CP.
-- Edited by Cupie on Sunday 19th of February 2017 04:37:49 PM
-- Edited by Cupie on Sunday 19th of February 2017 05:09:31 PM
I am constantly amazed at the phobia about the Chinese?
Does anyone bother to check how much is already owned by the USA and The British? No, it's much easier to pck on a race of people who are easily recognised as being different.
Recently the Van Diemens Land Company here in Tasmania was purchased by a Chinese, (almost no-one bothered to find out that it was an Australian born Chinese) and up went the usual garbage about the Chinese buying everything. Well, we recently visited and toured the VDL property holdings and the nearby town of Stanley, all who are ecstatic that this was indeed purchased by a Chinese person instead of the Australian consortium who planned on doing nothing but continue to run it into the ground.
Is this a caravan park that is full of permanents? Well a lot of interstate travelers would miss the Wantirna location, as we would miss the parks that are close into Adelaide
I don't really care who the investors are. These outrageous prices increase rates on other owners in the area. At least thats the way it works in ACT. Rates are set according to property values. I just want to live in my nice quiet area. I don't want to be forced to move. I'm very comfortable here thank you very much.
I'm sure that everyone who starts a caravan park does so to make friends and to be nice to those of lower socio-economic status. In La La Land!
No one in their right mind believes caravan parks are developed for any other reason than to make money as a business.
Caravan park permanent and long term tenants in Victoria get the same rights as a house renter and the eviction rules are the same.
When your lease is up you move out. If the landlord permits and you chose, to go short term without a lease, you get 60 days notice same as a house renter.
Just like a mum & pop property investor with a couple of homes for an investment for retirement, you know that land prices double every 7 to 10 years and you expect to be able to sell your property at some point to be rewarded with a sale figure of capital decent growth. So what makes that caravan park or their tenants any different.
Lots of folks bleat on about how much they are paying in rates but no one complains when they finally sell and get all that extra money from the capital growth.
Go pull out your 30 year old rates notices and you'll see that the 'cents in the dollar' levies have barely changed in the last 50 years, unless you have an incompetent council that can't manage their budgets properly.
What has changed is the value of your property, and rates are based on the NAV (Nett Annual Value) which is a calculation of the expected market rental rates for your property.
Everyone pays their fair share of the costs to run their municipality, but whilst the dollar amount may increase, the percentage you pay is no different to 50 years ago.
It's called inflation, if your rates are high it is because your house and land (the capital improved value) is high.
I'm sure that everyone who starts a caravan park does so to make friends and to be nice to those of lower socio-economic status. In La La Land! No one in their right mind believes caravan parks are developed for any other reason than to make money as a business.
Caravan park permanent and long term tenants in Victoria get the same rights as a house renter and the eviction rules are the same. When your lease is up you move out. If the landlord permits and you chose, to go short term without a lease, you get 60 days notice same as a house renter.
Just like a mum & pop property investor with a couple of homes for an investment for retirement, you know that land prices double every 7 to 10 years and you expect to be able to sell your property at some point to be rewarded with a sale figure of capital decent growth. So what makes that caravan park or their tenants any different.
Lots of folks bleat on about how much they are paying in rates but no one complains when they finally sell and get all that extra money from the capital growth. Go pull out your 30 year old rates notices and you'll see that the 'cents in the dollar' levies have barely changed in the last 50 years, unless you have an incompetent council that can't manage their budgets properly. What has changed is the value of your property, and rates are based on the NAV (Nett Annual Value) which is a calculation of the expected market rental rates for your property.
Everyone pays their fair share of the costs to run their municipality, but whilst the dollar amount may increase, the percentage you pay is no different to 50 years ago. It's called inflation, if your rates are high it is because your house and land (the capital improved value) is high.
Whilst I agree with your argument, I thought that I would mention that Municipal rates in Brisbane are based on Land Valuation as stated in this explanation published by the BCC ..
Land valuation is based on site value. Site value is the market value of the land in its present state. It includes the value of any improvements made to the land including filling, clearing, leveling and drainage works. The site value does not include structural improvements such as houses, sheds and other buildings.
Also with respect to purchase of land in China ..
In fact all land remains the property of the State (& collectives) and you obtain a 70 year (for residential use) usage lease. You do own the property that you build on it & may be able to get successive leases. Of course with many regulations in China there are always ways around them. Foreigners can now make additional purchases subject to various conditions. When we were last there, the Govt. was offering buy outs of whole inner suburbs & offering in return, brand new units on the outer new developments (+ a small margin), then leveling the whole of the old suburb ready for redevelopment.
This is the problem with Chinese investment ,I spoke to a real estate agent in Sydney and he said virtually only Chinese can buy waterfront property now,whyI asked? He said when Chinese people want a property now in Sydney, they simply state no matter what anyone else offers for the property we will beat there offer! as they have unlimited cash available no one else can possible own that property but Chinese or billionaires...
Agree KJ. Home across from me was bought by Chinese (for a lot more than usual value) to be part of their "property bank" I had three offers in the same week for mine. (not enough to make it worthwhile though) My cul d sac has recently been rezoned to allow high density housing.
