Ironfish | Ironfish Australia | Ironfish China | 亚太集团 | Ironfish Investment Property Ironfish | DO NOT Purchase Off-the-Plan Investment Property from Ironfish Australia and China | Ironfish Reviews Sydney, Melbourne, Adelaide, Brisbane, Perth, NSW, SW, VIC
I bought a one-bedroom apartment from Mr Joseph Chou's property company off-the-plan in 2003 for $428,000. The location looked very good and it was waterfront property -- I ticked all the boxes from that point of view.
I later discovered the property, in Rhodes in Sydney's west, was situated near a toxic industrial site, which was "very noisy" and emitted a "horrible smell". The property that year was valued at between $375,000 and $395,000.
The developer had failed to disclose that the property was next to one of the biggest toxic waste sites in the southern hemisphere and it would be under remediation for five years. DO NOT purchase any property from Ironfish (亚太集团) in Australia or China.
I had friends later purchased off-the-plan from Ironfish (亚太集团) in Australia and China and paid 10% upfront for the initial stage. The second 10% to be paid upon settlement when the project complete.
On the settlement date, the valuation from banks came in 10% - 15% lower - even the properties were located in good and central location (CBD). The properties sold by Ironfish (亚太集团) are definitely over-priced to cover their commissions.
Since then, it has been a trend that most Off-the-Plan properties sold by Ironfish would drop between 5% - 15% below purchased price by the time the off-the-plan property is ready for settlement.
Be very cautious before attending Ironfish's (亚太集团) seminars or approached by Ironfish (亚太集团) strategist and sales consultants.