Yahoo Finance CROWN GROUP ANNOUNCES BUMPER $28M APARTMENT SALES IN OCTOBER
Investors rush to beat the anticipated influx of international buyers when borders open
Crown Group_Prisca Edwards
Crown Group_Prisca Edwards
Mastery by Crown Group
Mastery by Crown Group
Sydney, Australia, Dec. 08, 2021 (GLOBE NEWSWIRE) -- International property developer, Crown Group has announced a mega month transacting $28 million in sales in October, with 75 per cent sold to investors.
Crown Group Director of Sales, Prisca Edwards confirmed this was the biggest surge of investor purchases the developer had seen in three years.
All the apartments sold to investors in October were two-bedroom, two-bathroom properties for the sole purpose of being rental properties.
“This sudden increase in sales signals the return of investors to the Sydney market which has been quieter than usual, possibly due to lockdown restrictions and international border closures.
“Now the market is getting hotter. Our overseas channel agents have many investor clients eagerly waiting for the international borders to open so they can come to Sydney and inspect our properties. The anticipated surge in demand has also prompted local investors to act,” she said.
“The price gap between apartments and houses is getting smaller; and the average rental price of apartments has increased. This tightening of the rental market is driving the growth in investor purchasers. Many young professionals, and even families, are being forced to rent as current house prices are just too expensive.”
“We are still in a low interest rate environment which is attracting investors, and bank regulators don’t appear to be calming the ever-booming housing market in the foreseeable future.”
“We see this as an opportune time for investors to buy property, especially in the apartment and off-the-plan sector as economists are forecasting a 15 per cent surge in house prices for some capital city markets by the end of next year.”
“Investors will always be looking for apartments that boast a good investment opportunity with potential for return. This means buying in attractive areas close to restaurants, bars, supermarkets and other points of interest. Crown Group continuously aims to position developments in these area through extensive research and industry foresight,” Ms Edwards noted.
Buying off-the-plan is becoming a more attractive option for investors with great potential for return, according to many market observers.
“From what we’ve seen across our projects, we believe investor sales will continue as the appeal of luxury apartment living ensues. People are seeing the opportunity to invest in off the plan apartments again – especially from leading developers like Crown Group, knowing the project will be delivered to an exceptional standard and quality,” concludes Ms Edwards.
For more information about Crown Group residential developments visit: https://masterybycrowngroup.com.au/
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CONTACT: Hwee Peng Yeo Glodow Nead Communications hweepeng@glodownead.com
