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Nearly all Parque apartments sold

The Parque apartment block in Melbourne has seen all but eight of its units sold.
Nearly all apartments in the Parque block in Melbourne have sold.
On Parque's official launch day on Saturday September 21st, 324 of the 332 apartments sold at auction. Prices on these units ranged from $370,000 up to $3.5 million.

Andrew Leoncelli, a former star of the Australian Football League and now a managing director of CBRE for Victoria, has noted that there has not been enough focus in the area towards selling apartments to homeowners.

He noticed a similar pattern with sales at the You and I and Haus development, stating in August that the majority of sales have gone to owner occupiers. At the time, close to 80 per cent of 63 one and two bedroom apartments had sold.

In Melbourne, there are currently fears that there are too many units on the market but Leoncelli argues instead that there are, in fact, not enough larger apartments on the market to target owner occupiers.

Posted by Craig Francis

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