With strong demand drivers and encouraging market conditions, Melbourne’s real estate market make for a great overseas investment for Singaporeans. Anthill Realtors believes that the city has upside potential for capital appreciation and yield play.
Melbourne has a healthy demand for housing that is driven by both local and foreign home-buyers and investors whom are attracted by the city’s high standard of living. In Economist Intelligence Unit’s livability survey of 140 cities, Melbourne has been named the world’s most livable city for four years in a row. Demand is expected to climb, as the population in Melbourne continues to grow. By 2053, the city is forecasted to be Australia’s most populous city with an estimate of 8 million people living and working there.
The city is well known for its many art exhibitions, sports events as well as live theatres and musicals which add to its vibrant and holistic quality of life. In the 2014 livability survey, Melbourne received an overall score of 97.5 out of 100, scoring a perfect rating for healthcare, education and infrastructure in the survey, increasing its overall appeal to the elderly and students. Research also shows that the state capital of Victoria emerged as the top migration city in Australia.
What makes Melbourne particularly attractive to investors is also its affordable entry into the market. A home-buyer or investor can own a freehold property by merely paying an initial 10% down payment, with the balance being paid on completion. This helps the home-buyer or investor keep the initial capital outlay low. The market is further encouraged by low interest rates. In early June 2015, the Reserve Bank of Australia maintained the cash rate of 2.00%, after cutting the cash rate by 25 basis points to a new record low of 2.00% in early May 2015. Furthermore, the city has the highest tax property concession in the whole of Australia.
”We are adding a number of projects to our Melbourne portfolio because we recognize its potential as a good place to invest. We believe that when a property at the right location is priced competitively, the development is a fantastic investment with plenty of upside potential, whether it is for yield play or capital appreciation,“ said Rhonda Wong, Chief Executive Officer of Anthill Realtors.
Affirming its commitment to its clients, Anthill Realtors is currently showing two quality developments in Melbourne, namely, The Fawkner on St Kilda Road and Night Fall on Gladstone Street. The Fawkner is an exceptional landmark building in a lush parkland setting. Conveniently located near Melbourne’s most beautiful green spaces, including the Yarra River, Royal Botanic Gardens and Albert Park, the residential building is only a few tram stops away from South Yarra’s vibrant shopping, dining and entertainment area. Night Fall, Anthill Realtor’s other Melbourne offering, rests discretely at the entrance of Melbourne’s entertainment and recreation precincts – the excitement and colour of which is matched only by the grandeur and serenity of nearby parklands and picturesque Port Phillip Bay.
With the many positive factors that Melbourne has to offer, coupled with beautiful properties like The Fawkner and Night Fall, the city is fast becoming the most sought after destination for investors.