Designer apartments Down Under
MELBOURNE is one of the top picks for Singaporeans who want to pursue a university education overseas. The Australian city is also home to property projects that investors could consider.
One such project under development is Ettaro Apartments, in Brunswick East, a suburb in Melbourne.
It is being developed by Australian company Caydon Property Group. Property agent AAM Realty, which focuses on marketing Australian properties, is Ettaro Apartments' agent here.
Located about 4km from the Central Business District in Melbourne, the project features three different buildings. There are 412 units in total, comprising one- to three-bedroom and penthouse apartments, with parking spaces available.
It is designed by award-winning architecture firm Hayball, and prices start from A$385,000 (S$448,000) for a one-bedroom unit.
The units come with luxurious fixtures and fittings such as wood flooring, a Baumatic electric cooktop and an electric multi-function oven.
Security features include closed-circuit television cameras, a security card access system and video intercom.
Residents get to enjoy facilities such as a pool, spa, gym, yoga room as well as sauna and steam rooms.
There are shopping malls nearby, with the train stations within 2km of the development.
The Brunswick East area is an attractive location because of its rich heritage.
Said Joe Russo, founder and principal of Caydon Property Group: "Brunswick East, with its rich European past, can lay claim to offering a diversity of lifestyles which can be traced back to the cultural changes that began in the early 1950s. This is where Melbourne's famous cafe and outdoor dining ethos was born."
For investors, the average total returns on apartments within Brunswick East has been 14.09 per cent per annum in the last 20 years.
Investors can place a 10 per cent deposit for a unit in Ettaro Apartments, and need not make further payments until the project is completed, in the middle of 2016.
On the project, Kelvin Kang, director of AAM Realty, said: "AAM Realty focuses on bringing quality Australian properties to Singapore. Singaporeans used to prefer apartments in the Central Business District, but they are now beginning to see opportunities in inner-city locations.
"Units in the Central Business District are usually small and capital growth has not been as good as other inner-city locations."
Mr Kang also noted that the Australian-dollar exchange rate is low now, and investors could take advantage of this.
21-27 Brunswick Road, Brunswick East, Victoria 3057, Australia
Caydon Property Group
Number of units:
Starts from A$385,000 (S$448,000), freehold
Expected completion in mid-2016
Call 6271-2393 for more information.