Over the past couple of years, Amity Property Group has forged a remarkable track record selling luxury apartments off-the-plan in China. Below, Cindy Zhou – Amity Property Group’s General Manager of International Sales – talks about the steps taken and the strategies put in place that have enabled the group to achieve such strong results. How has Amity approached the Chinese market? We really started exploring the Chinese market about two years ago. In that time we’ve made a priority of showcasing our projects at LPS, Asia’s leading luxury property show, which takes place every four months on a revolving basis in Beijing, Shanghai and Guangzhou.
In December, LK Property Group appointed the internationally-renowned contractor Multiplex to undertake construction of Capitol Grand, Melbourne’s first six-star residential and luxury retail destination. In the seven months since, a great deal of progress has been made on the landmark site located on the corner of Chapel St and Toorak Rd, South Yarra.
It is the one thing smart property investors are continually on the lookout for: opportunities to buy quality properties in blue chip suburbs. Their excellent location and beautiful streetscapes, coupled with access to great local amenities and infrastructure ensures their appeal will never fade. With its famous liveability, it is no surprise that Melbourne has its fair share of blue ribbon suburbs; however, few have the allure of South Yarra. Location and lifestyle Situated on the banks of the Yarra River, a mere 4km from Melbourne’s CBD, South Yarra is perfectly positioned, right in the heart of the action.
Investors interested in purchasing property off the plan in Victoria should consider making their move sooner rather than later. The Victorian Government recently announced a raft of changes in order to make home ownership more affordable, particularly for first home buyers. One of the new measures announced will effectively remove the current concession available to off the plan investors. Help for first home buyers Stamp duty will be abolished for first home buyers purchasing properties valued at less than $600,000. A tapered discount will apply to properties valued between $600,000 and $750,000. This change is being introduced in an attempt to reduce the hurdle of upfront costs for first home buyers and will apply to both new and existing properties.
Victorian Treasurer Tim Pallas proudly declared recently that he hopes the government’s latest tax doesn’t spin a single cent in revenue. The new one per cent tax squared at owners of vacant homes is designed to get more houses on the market and improve affordability, rather than generate income. It forms part of a bold raft of initiatives set to be introduced by the Victorian Government later this year.
