In recent months, Chinese buyers have been snapping up more and more Australian homes and apartments, with the potential for high yields and strong returns growing all the time.
And now one Australian developer is potentially looking to make the most of this demand from the Far East, as he says he is about to introduce a new building with an 'Asian twist' to the Melbourne skyline.
ICD Property, owned by Michael Mai, is putting the finishing touches on the plans for the new EQ tower, a 63-storey residential tower with 632 apartments.
Mr Mai said that Melbourne is becoming an increasingly international city, adding that apartment living and investment is starting to become more prevalent in the city, although it is still far behind the more mature apartment rental sector in the Far East.
"Apartment development in Australia is still in its infancy we believe," he said.
"In Asia it's more mature, that's why we've put in a lot of facilities you haven't seen before."
Posted by Steve Douglas
And now one Australian developer is potentially looking to make the most of this demand from the Far East, as he says he is about to introduce a new building with an 'Asian twist' to the Melbourne skyline.
ICD Property, owned by Michael Mai, is putting the finishing touches on the plans for the new EQ tower, a 63-storey residential tower with 632 apartments.
Mr Mai said that Melbourne is becoming an increasingly international city, adding that apartment living and investment is starting to become more prevalent in the city, although it is still far behind the more mature apartment rental sector in the Far East.
"Apartment development in Australia is still in its infancy we believe," he said.
"In Asia it's more mature, that's why we've put in a lot of facilities you haven't seen before."
Posted by Steve Douglas
