HK target for luxury projects

PUBLISHED : Wednesday, 15 November, 1995, 12:00am
UPDATED : Wednesday, 15 November, 1995, 12:00am

ESTATE agents are promoting a number of upmarket Australian and New Zealand residential projects to buyers in the territory this autumn.

The majority of these new homes are apartments, although there are also a handful of houses which are selling quickly.

Estate agents said houses were particularly popular with end users who were becoming an increasingly important segment among Hong Kong buyers.

Estate agent Sotheby's International Realty had located Hong Kong buyers for luxury houses in Sydney and Melbourne. The company recently sold an A$1.5 million (about HK$8.74 million) house in Sydney to a Hong Kong-based buyer.

In Brisbane, International Home Brokers is offering 54 suburban townhouses at its Walton Way: The Gap project to Hong Kong buyers. Situated eight kilometres from the city centre, these two-and three-bedroom townhouses are on sale for between A$172,000 and A$200,000.

However, most residential properties offered to Hong Kong buyers continue to be apartments.

Many of the new Australian apartments offered in the territory are in Brisbane.

Estate agent Ben Boyd is seeking more Hong Kong buyers of apartments at Brisbane's Dockside development, where all the houses on offer were sold in one day.

Only 25 of the 109 apartments at the development remain to be sold.

Building work on the mixed-use development finishes this month. In addition to villas and flats, there is a hotel, restaurants, bars, tennis courts, a sports centre, six hectares of landscaped gardens and a marina at Dockside, which is a four-minute ferry ride from Brisbane's central business district.

Prices start at A$370,000 for a two-bedroom flat.

According to the Australian Financial Review, some properties at the complex are being re-sold for more than A$24,000 above their original price.

International Home Brokers is offering apartments at two Brisbane developments: a low-rise project, the Village of Langler Drew in the suburb of Toowong; and the high-rise block, Bells Square, in the city centre.

In Sydney, Ben Boyd has been selling 19 low-rise units and townhouses at the Seahaven residential development in the upmarket lower North Shore.

Of the eight units remaining, there is an A$2,350,000 four-bedroom penthouse and an A$550,000 two-bedroom flat.

In Melbourne, international property consultants Colliers Jardine is confident of finding buyers for luxury homes in a new development situated next to a major railway line in the centre of the city.

Thirty-three luxury low-rise apartments and 10 townhouses are on offer in the fifth phase of the City Homes project.

Buyers of the 18th-century, English-style homes automatically become members of the 'Lord Wellington Club'.

Prices start at A$247,000 for low-rise units and A$399,000 for houses.