IMMEDIATE RELEASE 18 April, 2015
High Rental Return Australian Project To Be Offered to Overseas Investors.
Hong Kong- 18 April, 201-
International property agent the
Citylife Group is shortly to launch a new residential project in Australia that
Managing Director Mr Michael Bentley, describes as 'one of the best investment opportunity's seen in Australian real
estate this year.'
The HIA estimates that Australia will require in the order of 1.6 million new homes over the next nine years, but if the country continues to build at the average rate seen the last 20 years, many cities will have a critical housing shortage by just 2020.
In addition to the shortage, many areas in Australia still have strict height restrictions, greatly limiting the amount of new high rise or even medium rise towers.
One such area earmarked by Citylife International Realty is Woolloongabba..
With strict height limitations in this area and being so close the city centre, the cultural centres of Brisbane, the Brisbane River, and well serviced by transport and shopping and restaurants, the Citylife group believes this area offers one of the most profitable investment locations in Australia.
Situated in a prime location just 300 m from the Brisbane River, and under three Kms of the city centre, the Ecco apartments in West End is one of the few approved developments for a tower in this area.
In addition, the Ecco apartments offer full resort facilities, including a rooftop swimming pool overlooking the city centre, a gymnasium, sauna, pool decking with sun lounges, and a BBQ area.
However the attractions go much beyond facilities. The apartments, comprising deluxe one and two bedroom layouts, are very spacious, compared to many of today's Australian projects. The location means tenants or owners can walk outside their front door and within minutes be at the Brisbane River, or enjoy the myriad of restaurants, cafes, shops and bars, or simply jump on a bus at the front door and be in the city centre in 10 minutes.
Michael Bentley is confident investors will be excited about this project.
He elaborates 'Just released research has indicated that the West End of Brisbane offers amongst the highest rental yields available anywhere at present, with the lowest square metre rate for new build property.
‘The Brisbane property market has been overlooked by many investors, but in fact in capital growth terms according to the research has outperformed Sydney, Melbourne and even many parts of prime central London over the past 10 years.
‘ Prices to be offered in the Ecco apartments are under Australian dollars 7000 m², which is around 30% less than most new build in similar locations in most of the other Australian cities.
‘The upside potential in my view is very strong, and because of the size of the apartments, the low prices, the population growth, the shortage of supply, and the resources boom, buyers can generate high rental income in the meantime, with very little downside risk.’
The Ecco apartments also offer investors another rarity in Australian projects over recent years – every apartment, even the lowest price one-bedroom apartment is not only spacious, but comes with a security car park included in the price. Air-conditioning and spacious balconies to enjoy the views and idyllic Queensland climate are also a feature.
The public launch for Ecco apartments is scheduled for late October, however the Citylife group will be offering overseas investors a pre-launch opportunity ahead of the Australian launch, on just 10% deposit until completion planned for late 2012.
Apartments start from AUD$385,000,
Citylife Property Group
24 Floor, On Fem Tower
29 Wyndham Street, Central,
+852 9736 2218
+61 437 885 998