Friday, December 23, 2011

Asian Developers

"Foreign developers have grabbed a 30 per cent share of Australia's apartment market, a trend not repeated since the Japanese office and hotel development boom in the late 1980s.
Overseas investors are behind 13,000 apartments in 37 projects in Australia. Based on the average number of apartments completed in 2011, that represents a market share of as much as 32 per cent, research by the property group CBRE finds.
About 40 per cent of projects are under construction; the rest are at the planning or marketing stage."
See Fairfax
So it appears that Asian developers are building small apartments in Australia for Asia buyers that are rented to Asian students.  When the tide goes out, will Australians want to buy or live in these boxes?

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