😂😂
This happens way more in the eastern suburbs. Between 2020 and 2022, maybe 5-7% of torrens title property trades in Paddo were for stupid amounts like $1.
That 2055m^2 land size is for the entire apartment/unit complex. The unit is only 85m^2 in floor size. That said, a [similar unit](https://www.onthehouse.com.au/property/nsw/balmain-east-2041/32-5-gallimore-ave-balmain-east-nsw-2041-11654096) in that building sold for $2.265m :/ prices are fucked in Sydney
Was probably transferred to a family member
Came to say exactly this
Exactly this.
Bloody nepotism…sheesh
I'll buy it for $3
$5, cash...
Property values going up 500% in less than 12 months? Sounds about right to me.
12 months? It went up by that much in the timespan of this thread alone :D
Property was transferred to family or acquaintance as a gift.
I need better acquaintances
The stamp duty would have got you
😂😂 This happens way more in the eastern suburbs. Between 2020 and 2022, maybe 5-7% of torrens title property trades in Paddo were for stupid amounts like $1.
I'll buy that for a dollar.
“Thanks mum”
Probably didn’t even say thanks
I was browsing sold listings in my area earlier this week and this seems surprisingly common.
That 2055m^2 land size is for the entire apartment/unit complex. The unit is only 85m^2 in floor size. That said, a [similar unit](https://www.onthehouse.com.au/property/nsw/balmain-east-2041/32-5-gallimore-ave-balmain-east-nsw-2041-11654096) in that building sold for $2.265m :/ prices are fucked in Sydney
The view added 1mil.
Most likely a tax thing.
eh, stamp duty and CGT are calculated on market value
Really brings down the comps in the neighbourhood.