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Chinese commence slow return to bottomed apartment market.

Property Markets / Outlook

Australia / Alexandria

Mar 08 2018

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The apartment market has bottomed, says Meriton Group owner, billionaire Harry Triguboff, as the group finalises the purchase of another inner-city parcel. 

Mr Triguboff said Chinese buyers had been slowly returning to the market in recent weeks. 

Meriton Group is purchasing an Epsom Road, Alexandria site, able to hold around 300 units. 

The 85-year-old told The Australian that the area from Alexandria through to Mascot had been a strong rental market, along with the Gold Coast, where demand for more expensive apartments had experienced a recent increase. 

Mr Triguboff said easing bank restrictions had prevented further decline, with prices now stabilising, despite being down up to 15 percent since last year. 

SOURCE: The Australian

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