2306/8 Adelaide Terrace, East Perth WA 6004

29-storey exposure | strata dependency | yield below 4% | resort supply risk | lifestyle premium priced in The property carries two material risks that will shape its holding costs and exit profile. A 29-storey tower on a 1.53 hectare complex means future maintenance levies will be material; budget for $6,000-$9,000 per annum in strata fees alone. The current rental yield of 3.28% sits well below Perth’s apartment median, meaning any buyer using leverage will require substantial top-up capital each month. These costs will compress returns unless capital growth in East Perth’s prestige market accelerates above 5% annually. The judgment here is this is a lifestyle hold for a buyer with strong equity, not a core investable trade. What is competitively rare is the combination of an enclosed timber-decked balcony with unbroken river and Kings Park views from level 23 in a complex with 70% owner-occupier density. That reduces renter churn risk in the building and supports price stability. The flexible floor plan that accommodates a study or third room adds functional depth over a standard two-bedroom unit. This property serves a downsizing professional couple or an offshore buyer seeking a furnished Perth base with secure parking and concierge amenity. The decision to buy should hinge on whether you are paying for view rather than square metre value; commission a shadow valuation against the 100 comparable two-bedroom sales in East Perth to benchmark your entry price against the market’s actual trading range. Comparable Sales Context Recent 2-bedroom East Perth sales show a median of $1.32m. This unit sits at $1.78m midpoint, a 35% premium that the view and level 23 position must sustain. Without that view premium, the property is overpriced by roughly $460,000.