RESIDENTIAL PROPERTY

Prestige residential appetite defies pandemic

Print Friendly, PDF & Email

DEVELOPER Crown Group has sold $63 million worth of apartments over February, March and April, including three penthouses across its three newest developments, and is optimistic about further sales as restrictions on inspections and display suites are gradually eased.

Crown Group director of sales, Prisca Edwards said restrictions have been lifted at its Mastery and Waterfall by Crown Group display suites in Waterloo.

She expects off-the-plan sales to climb further as the pent-up demand of early 2020 is released.

Penthouses were sold at Arc, Waterfall and Mastery in Sydney and Waterloo.

Edwards said that some segments of the luxury real estate market were exceeding expectations, particularly for completed products. Off-the-plan sales would be the next to pick up.

“People are seeking the certainty and security of property right now and those with some capital are prepared to secure it,” she said.

Crown Group has reported its highest levels of online enquiry and web traffic, and will continue to use video property inspections and our new 360-degree video tours.

Edwards said that as the situation in China stabilised, off-the-plan sales would grow further.

“We expect another wave of strong migration once flights open up again and people are once again sending their children to study in Australia,” she said.

Waterfall broke the record for the highest-priced apartment in the suburb when it sold a penthouse for $4.5 million in May 2018, and another penthouse at the project was sold in March for $3.67 million.