Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Sydney development property ‘in demand’

The increase in demand from buyers has forced up prices of development land and new apartment blocks in Sydney.

The increase in demand from buyers has forced up prices of development land and new apartment blocks in Sydney.

According to The Age, developers are focusing on the popular inner and middle-ring suburbs in order to maximise returns.

In particular, real estate experts are predicting that current hotspots are North Ryde, Macquarie Park, Botany, Matraville, Canterbury, Hurstville and Parramatta.

Murray Wood, the director of residential projects with agents CBRE, explained there is strong interest in land that has not yet been rezoned to accommodate residential projects because the competition is so fierce between construction companies.

“The amount of developers ringing us daily saying ‘what have you got? We want to get into the market’. It’s massive actually,” said Mr Wood.

It was recently confirmed that permission has been granted to build a second casino in Sydney. The Crown casino will be based in the Barangaroo development and will offer 350 hotel rooms and 80 luxury apartments.

Posted by Steve Douglas

- Sydney, casino, Sydney, projects, building

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now