Property News · January 1, 2016

Global luxury property buyers really want to live in Melbourne


Some sellers are actually setting limits for foreign buyers
Shadow Play, located in Southbank, Melbourne
Melbourne truly lives up to its reputation.
Recently named by the Economist Intelligence Unit as the most liveable city in the world, Melbourne is currently one of Australia’s top draws for foreign buyers eager to own a home.
Due to anticipation of strong demand from overseas buyers, one boutique real estate developer, Anthill Realtors, decided to set a 30 percent limit on the proportion of foreign to local buyers for its luxury, freehold residential project in Southbank– and it was recently maxed out.
More: SG housing developer is Melbourne’s newest kid on the block
The developer’s latest project in the city, dubbed ‘Shadow Play’, is a 46-storey tower that became a hit with offshore buyers from Mainland China and Hong Kong. Aside from its very accessible location on the nexus of City Road and Clarendon Street, less than a kilometer from Melbourne city centre and only a six-minute walk to the Crown Casino and Entertainment Complex, the property boasts views of the city’s parklands, nearby botanical gardens and the Port Phillip Bay, adding to its allure.
“Shadow Play’s prime location, coupled with its competitive pricing has drawn strong interest from overseas investors who recognise the development’s potential to appreciate in the long run,” said Rhonda Wong, CEO of Anthill Realtors Pte Ltd.
Designed by Melbourne’s very own architect Elenberg Fraser, with interiors by the Hecker Guthrie firm, the property offers a total of 496 residential units, with a selection of one-, two- and three-bedroom apartments. Amenities include digital connectivity, concierge facilities, an in-house lounge and a dedicated gym for residents-only.
More: New luxury property boosts South Yarra’s reputation as Melbourne’s coolest enclave
Wong added that the weakening of the Australian dollar is also contributing to the attractiveness of Australian properties for international buyers including affluent Singaporeans, who are the year-to-date’s second-biggest source for inbound investments down under, with a cumulative spending of AUD5.7 billion (USD4.58 billion).
Capitalising on this investment trend, Anthill Realtors are still on the hunt for Singaporean buyers who may be interested in owning another home in Victoria’s crown jewel.

Source : property-report.com
Read more…Global luxury property buyers really want to live in Melbourne

You may also like...