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Read an extract from the latest edition of The Asian Executive magazine showcasing property developer Deal Corp.
Written by Tina Di Camillo.
Click here to download the article
The Melbourne apartment market has attracted another foreign developer with Malaysia’s Asia One joining others such as Far East Consortium in the residential boom.
The Australian reported that Asia One is planning a $300 million residential and hotel development at the Paris end of the Melbourne CBD.
Asia One purchased the 14-storey building for about $30 million in an off-market deal in March.
The 849 square metre site, known as Citicorp House was owned by the Suleman family.
The property market didn’t cool down during winter with new figures revealing the best seasonal price growth in seven years.
According to the latest RP Data Hedonic Index capital city housing market recorded their strongest capital gain for winter since 2007.
The New South Wales Government has announced the delivery of 6,000 new apartments in North Parramatta.
The 146-hectare government owned site between Parramatta River and O’Connell Street has a price tag of $2.1 billion and will see buildings as high as 30-storeys built over the next 15-20 years, preserving the abundance of heritage buildings in the precinct.
Urban Taskforce CEO Chris Johnson said it was important to balance the new development with the heritage buildings.
“The NSW Government has got the balance right with apartment towers up to 30 storeys high on those parts of the site remote from heritage and only low rise buildings nearer to the heritage precinct,” Mr Johnson said.
You might not see them in glossy sales brochures or sleek online picture galleries, but car parks can be a vendor’s most valuable selling point.
New research shows having a car space can add tens of thousands of dollars to a home’s selling price.
A trio of residential towers is set to rise from the ABC’s abandoned studio complex at Toowong and put diamonds in the skyline on Brisbane’s city fringe.
Renowned Iraqi-British architect Dame Zaha Hadid — the first woman to receive the Pritzker Architecture Prize — has designed the towers, which feature a quilted diamond facade in her trademark neo-futuristic style.
Sunland, developer of the Gold Coast’s Q1 supertower and Palazzo Versace Hotel, today lodged a development application for the $420 million riverfront project — to be called Grace on Coronation.
Melbourne is leading the country for property price growth, according to new quarterly figures released on Monday.
Yet as home owners gear up for the main selling season, some Melbourne agents say the 6.4 per cent jump in home values – 1.4 per cent higher than Sydney – should be treated with a degree of caution.
Typically, the winter is a slower time for property, but researcher RP Data said Melbourne home values are on the rise.
“House values can go up regardless of the season, they’re not dependent on good weather, they’re dependent upon the interface between supply and demand,” RP Data Victoria property market spokesman Robert Larocca said.
Southern capitals are continuing to drive the property market with Sydney and Melbourne continuing to record growth in values.
The latest RP Data Hedonic Index has revealed that Canberra recorded the strongest growth in the country with values up 2.1 per cent for the quarter.
Sydney was close behind with growth of 2 per cent and Melbourne was up 1.8 per cent.
The Darwin recorded a 0.8 per cent increase, while the rest of the capitals suffered losses.
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For Generation Y the great Australian dream of a home in the suburbs is dead, with young people more interested in flash cars and trendy bars.
New figures by Resolution Research show 87 per cent of Gen Ys have no aspiration to ever buy their own dream house.
A majority of the 18 to 32-year-olds said they would rather live close to the city and rent than buy a house further out.
“It is clear that this generation has a dream for the future but it is abundantly clear that it is not in line with the entrenched notion of the great Australian dream,” said Resolution Research director Diana Howes.
