Executive Apartments

[apom]

Okay.

I have recently had exposure to the luxuries of an executive flat.

A two bed apartment with one on suite and a combined living room/dining room/kitchen.

Parking space within the grounds for only one vehicle per flat and right on a noisy road.

Even in todays prices this flat in exeter is worth more than my parents four bed detached house backing onto fields. over £280,000

Why is this?

I have seen Exeter spring up dozens of these developments with the "executive" tag and for the life of me I can't see the difference between these properties and any other small flat?

No better areas, no larger and no better quailty.

They don't have air-con or any more advanced sound insulation.

but people seem happy to pay £100,000 over current housing prices.

In an unstable market I am very glad I don't have a mortgage on one of these..

For the only advantage I can see in owning one is that your neighbours also seem to think this is a fair price.

In a time of hugely inflated house prices there seems to be a breed of people happy to take it to the next step?

Discuss

[Culpability Brown]

The government have been talking about cheap housing.

Forget their 60K home nonsense we all know that appartments are the cheapest to build and it follows that they should also be the cheapest to purchase.

Developers have been having a laugh playing the bubble and drawing in BTLers so that they can make millions selling overpiced poorly constructed CHEAP homes at exorbatant rates.

It's a speculative game that is going to be the Headline event of this HPC.

Look at it for what it is and walk away.

[CrashIsUnderWay]

Its because you get a free executive with every apartment.

[apom]

Cool..

so so far no one can defend these prices.... even in todays market..

can somone try...? I am struggling..

also in my area they have built too many..

There are several stood empty in every development that can either not be rented or sold..

There are many more developments nearing completion..

a new one sits right by the railway track.. not finished.. but looks close enough to touch the train

[House Or Home]

Do they check you are an executive before you are allowed to buy one?

[fdk]

The rents on these places tend to be quite high too. But then you are apparently paying for brand new kitchen, 2 bathrooms + cloakroom, new boiler/heating system, power shower etc. and clean decor and new flooring.

But the bedrooms are tiny.

A new Baratt development in Bromley currently has 8 different 2-beds up for rent with a single agent, all at around the £1,100 pcm mark. According to Ourproperty.co.uk the purchase prices for these were on average about £280K. Yikes !!

True market value based on 7% net yield, about £90K.

One of my main worries would be lack of sound insulation. Can you really hear everything going on next door and upstairs ?

[apom]

Actually,

several years ago I was an executive..

a help desk executive.

Now years later I have lost the title and they now call me a technical consultant..

good job? perhaps.. still can't buy a home unless I commit fraud..

hmnnnn thats a stable housing market..

"it can be sustained.. but can you all pease buy our rubbish cheap flats and lie about your salary so that you can borrow 15 times your salary for our rubbish flats..?"

[NJP]

You're completely missing the point.

The place you're talking about aren't just common flats, they're executive apartments! Sure, the rooms might be the same size, the build quality might be identical, and people may still p*** in the lifts, but only an executive apartment allows its owners to indulge in an exciting contemporary urban lifestyle in the vibrant heart of the city.

The same goes for luxury penthouses. You might think that it's just another name for a shoebox on the top-floor of a block of flats with laminate flooring, but you'd be wrong. In these luxury dwellings, they've replaced out-dated features, such as cupboard space, with en-suite bathrooms. Young single people living in the buzzing entertainment-quarter of S****horpe are prepared to pay good money for 3 shower rooms, because it reflects the needs and aspirations of their busy, modern lifestyles.

[Too expensive to trade up]

You're completely missing the point.

The place you're talking about aren't just common flats, they're executive apartments! Sure, the rooms might be the same size, the build quality might be identical, and people may still p*** in the lifts, but only an executive apartment allows its owners to indulge in an exciting contemporary urban lifestyle in the vibrant heart of the city.

[snip]

Do I detect a hint of sarcasm there

It's just market speak. When I bought my flat three years ago it was advertised as an apartment (no luxury here). Now the flats being built by the same company are now advertised as luxury flats even though they are are the same spec and size.

The only difference I can tell is that they have sliver power and light switches while mine have plain white ones.

Edited August 19, 2005 by Too expensive to trade up

[PulpFiction]

The only difference I can tell is that they have sliver power and light switches while mine have plain white ones.

<{POST_SNAPBACK}>

Silver power and light switches will cost about £3 each at B&Q. So for about £30-40 you could upgrade your apartment to a luxury flat. Now that HAS to be worth the investment

Edited August 19, 2005 by PulpFiction

[Guest Bart of Darkness]

Do they check you are an executive before you are allowed to buy one?

The place you're talking about aren't just common flats, they're executive apartments! Sure, the rooms might be the same size, the build quality might be identical, and people may still p*** in the lifts, but only an executive apartment allows its owners to indulge in an exciting contemporary urban lifestyle in the vibrant heart of the city.

One of my main worries would be lack of sound insulation. Can you really hear everything going on next door and upstairs ?

This may depend on when it was built. If older than say 2 years, then yes, there is a good chance of that.

Newer flats are supposed to benefit from improved regulations regarding sound insulation (anybody living in one of these newer places who can confirm this?)

The "exciting contemporary urban lifestyle" provided with these places is snake oil.

Live in an apartment behind some retail units with a view of the duel carrigeway/vomiting drunks/constant heavy traffic? No thanks.

http://212.50.188.108/cgi-win/vebra.cgi?de.../JETCE/52512/11

All yours for around £145,000.

The picture does not convey the utterly un-vibrant location (unless vibrant means 4 lanes of traffic whoshing past at all hours while you enjoy cocktails on your Balcony).

Perfectly placed to witness swarms of football fans converging on Bramall Lane every time there is a match on.

Edited August 19, 2005 by Bart of Darkness

[Too expensive to trade up]

Silver power and light switches will cost about £3 each at B&Q. So for about £30-40 you could upgrade your apartment to a luxury flat. Now that HAS to be worth the investment

<{POST_SNAPBACK}>

So for 40 quid I can double the price of my flat?

[Islandape]

http://212.50.188.108/cgi-win/vebra.cgi?de.../JETCE/52512/11

All yours for around £145,000.

The picture does not convey the utterly un-vibrant location (unless vibrant means 4 lanes of traffic whoshing past at all hours while you enjoy cocktails on your Balcony).

Perfectly placed to witness swarms of football fans converging on Bramall Lane every time there is a match on.

<{POST_SNAPBACK}>

"Jet Centro"???

What CSE marketing failure comes up with these names?

I think we need a "Most Stupid Development Name" thread :angry:

[fdk]

"Jet Centro"???     

What CSE marketing failure comes up with these names?

I think we need a "Most Stupid Development Name" thread  :angry:

<{POST_SNAPBACK}>

The one in Bromley I mentioned earlier is called 'ConneXtions' !!

Note the 'X'.

Edgy or what ??

[Tron]

Silver power and light switches will cost about £3 each at B&Q. So for about £30-40 you could upgrade your apartment to a luxury flat. Now that HAS to be worth the investment

<{POST_SNAPBACK}>

B & Q are actually quite expensive for these kind of things. Use Screwfix or another trade supplier. You can "exec" your flat for much less than you thought.

[Islandape]

The one in Bromley I mentioned earlier is called 'ConneXtions' !!

Note the 'X'.

Edgy or what ??

<{POST_SNAPBACK}>

"Edgy" isn't the first adjective that springs to mind, no

I think they give the job of naming developments to the idiot children of the directors. For example, a builder local to me named their development "Lakeside" which doesn't sound too bad unless you know that Tamworth already had an area called that.

Though the main issue was that they built it on the site of a former asbestos factory

[apom]

last post of the day..

These flats also can't be sold as second homes.

Ground rent way over the thousand a year mark sees to that.

Also this makes BTL nonsense.. well £280,000 purchase saw to that..

And this is Devon.. Beautiful.. But salaries are low.

these are going to be the true casualties of the crash..

[fdk]

These flats also can't be sold as second homes.

Ground rent way over the thousand a year mark sees to that.

Also this makes BTL nonsense.. well £280,000 purchase saw to that..

these are going to be the true casualties of the crash..

<{POST_SNAPBACK}>

Agreed.

Service charges and ground rent at ConneXtions ?

Only £1,775 per annum.

[Guest Bart of Darkness]

Jet Centro

Sounds like a character in a Japanese cartoon.

Maybe those flats can "transform" into a nice semi in the suburbs?

For that price you could *almost* get a detached house in a reasonable area of Sheffield (average seems to be about £155k to £170k in some parts of the city).

EDIT: Just remembered that there used to be a Jet service station in that location.

Jet

and it's Centro living...

Now that is unimaginative thinking.

Edited August 19, 2005 by Bart of Darkness