High Rental Return Australian Project To Be
Offered to Overseas Investors.
Hong Kong- 23 September, 2011-
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.'
Australia remains in a strong economic position, although
a report just released by the Housing Industry Association of Australia (HIA)
shows a looming shortage of supply in all of Australia's major cities over the
next nine years.
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.
Whilst Brisbane Metro is expected to have the greatest
individual shortfall, under the same scenario Victoria will be short by 104,200
dwellings, West Australia by 112,000, 91,800 in Queensland, and 155,700 dwellings
in New South Wales.
In addition to the expected 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 the Citylife property group,
is the West End in Brisbane.
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.
