| Khal Baharulalam |
WITH more people looking to invest in luxury properties overseas, Inspire Living magazine held a forum on Property Investment in Melbourne, Australia at the Conference Room of The Empire Hotel & Country Club, yesterday.
The main feature was the iconic building called Australia 108 – a freehold project which is set for completion by 2019 by a Singapore company World Class Land.
Key areas of discussions addressed the reason behind the expanding momentum of property investment markets amongst the Asian population including guides and advice on selecting properties in Australia.
Foreign investors are buying one in every six new properties in Australia – this is due to the stable economic and political environment as well as the robust education and migration policies.
Property price appreciation trends and track records indicate that year on year the Australian property market has been advancing steadily. Australian house and apartment prices surged 11 per cent in August last year, led by gains of 16 per cent in Sydney and 12 per cent in Melbourne, as per collected by RP Dat CoreLogic Home Value Index.
The Australia 108 is a 319-metre skyscraper which comprises 1,105 units ranging from studio apartments to massive penthouse. The Cloud residences between levels 72 to 87 offer large units, including a 8661 sq ft super penthouse on the 100th storey, offering 360 degree views for a ‘top of the world sensation’.
The iconic tower will be located in Southbank, near Crown Casino, Melbourne Exhibition Centre, the arts precinct, the Royal Botanic Gardens and Queen Victoria Park – well equipped with facilities such as a 25-metre lap pool, a gym, theatrette, steam rooms and saunas.