With an estimated 38,000 new homes needed per year Melbourne as the city’s size and population grow (targeted to reach 2.4 million by 2030), being one of the first to jump into the depend of the pool might give you an upper hand when demand overshadows supply.
While the city centre properties in Melbourne might already cost you considerably more than it would have less than a decade ago, options of suburban properties near regional hubs or in smaller townships may cost less but still have the potential for long-term growth. And now property agencies are keen to help buyers save on property purchases as stamp concessions for off-the-plan property purchases in the state of Victoria will be removed from July 1.
Launching this weekend is the Yarra One, located near the Royal Botanic Gardens in South Yarra. Located conveniently near dining, shopping and entertainment options, with supermarkets such as Woolsworth and Coles nearby, the 26-storey Yarra One consists of 268 luxury freehold apartments. The project is heralded by Eco World – Salcon Ya1 Pty ltd and will be designed by renowned architectural firm, Fender Katsalids Architects. This is essentially a mixed-use development as the ground floor will host a myraid of cafes, restaurants, retail and lifestyle entities. Available for sale will be 2-, 3-room units and also penthouses. The new project will also have facilities such as a rooftop garden, spa, gym, library and wine bar.