{"id":24484,"date":"2021-07-19T12:34:44","date_gmt":"2021-07-19T05:34:44","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=24484"},"modified":"2021-07-19T16:05:15","modified_gmt":"2021-07-19T09:05:15","slug":"australian-developers-continue-to-build-as-they-see-an-end-to-covid","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/australian-developers-continue-to-build-as-they-see-an-end-to-covid\/","title":{"rendered":"Australian developers continue to build as they see an end to COVID woes"},"content":{"rendered":"

Experts share insights into the current and future of Australia’s real\u00a0estate market<\/span>\u00a0<\/span><\/p>\n

\"\"
There is potential in Melbourne\u2019s apartment market compared to other cities around the world. MaytheeVoran\/Shutterstock<\/figcaption><\/figure>\n

At the recent PropertyGuru\u00a0Asia Property Awards (Australia)\u00a0Virtual Roundtable 2021, Australian real estate experts gather to discuss\u00a0the market\u2019s\u00a0pandemic-induced changes and\u00a0future\u00a0outlook.\u00a0<\/span>\u00a0<\/span><\/p>\n

Leonie Klaric, CEO & founder of The Property Expert International, shared New South Wales\u2019 real estate outlook and heritage development. Sydney\u2019s experienced record-low interest rates of just 0.1 percent and continues to be a safe haven for international investors. Regional towns in NSW have seen increases in values dramatically, and local governments are encouraging developers to maintain a heritage component in new designs. <\/span>\u00a0<\/span><\/p>\n

Ivan Lam, head of international business at Charter Keck Cramer, offered insights into cross-border investments in Australia and the Melbourne apartment market. Real estate is the second-highest industry in attracting foreign direct investment with commercial real estate clocking AUD38.8 billion from the year prior\u2019s AUD73 billion. There is potential in Melbourne\u2019s apartment market compared to other cities around the world, but decreased international students from border restrictions also pose concerns.<\/span><\/p>\n

Apart from the market update, Lui Violanti, regional manager at Western Australia Inhabit Group and chairperson of the Awards’ Judging Panel, provided an overview of the programme as the most prestigious industry accolade with an unparalleled reputation for being credible, fair, and transparent. <\/span>\u00a0<\/span><\/p>\n

Josh Chye, partner and head of Tax. HLB Mann Judd – HLB Australia, also joined the panel. As the official supervisor of PropertyGuru Asia Property Awards, HLB ensures fair judgment, adherence to the Judges Rulebook, site visits for procedure verification, completed entry forms, and approves all Winner and Highly Commended results from the judges.<\/span><\/p>\n

Jules Kay, managing director of PropertyGuru Asia Property Awards & Events, moderated the virtual session to share to viewers insights into the current and future of Australia’s real estate market.<\/p>\n

Is\u00a0the\u00a0Australian market still performing well despite\u00a0the\u00a0challenges?<\/span><\/b>\u00a0<\/span><\/p>\n

Lui Violanti said that Western Australia has bounced back over the years, thanks to the pandemic which led to internal migration. People are leaving big cities, and going to smaller cities that offer better properties for the same amount of money. Moreover, the student market has heavily impacted major cities like Melbourne and Sydney, but it hasn’t stopped projects from being built as developers see the end of COVID coming through. <\/span>\u00a0<\/span><\/p>\n

Will\u00a0Sydney still\u00a0maintain its\u00a0appeal?\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

Leonie Klaric believes that Sydney will continue to be of great appeal due to its great waters,\u00a0constant\u00a0supply and demand\u00a0dynamic,\u00a0and\u00a0livability.\u00a0People still\u00a0crave\u00a0properties, particularly\u00a0young\u00a0homebuyers, and wealth\u00a0is all around. \u201cI\u00a0don\u2019t think\u00a0it’s\u00a0going to\u00a0change,\u00a0and Sydney is a\u00a0great place to\u00a0invest\u00a0in\u201d, she said.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Australian property investors favour energy-efficient homes<\/strong><\/a><\/p>\n

Have there been any remote working shifts in Melbourne, and will there be any long-term effects?<\/span><\/b>\u00a0<\/span><\/p>\n

Josh Chye shares from a workforce trend point of view, there\u2019ll be a permanent change between the office and home. Offices aren\u2019t dead and practices in Melbourne like HLB have adopted a hybrid model. Companies have also given choices for people to work from home and even before COVID-19, there have been talks about offering such arrangements. Changes will definitely be seen moving forward and \u201cThe majority will be hybrid\u201d. <\/span>\u00a0<\/span><\/p>\n

Will there be trends to adjust\u00a0the\u00a0market in the absence of\u00a0international\u00a0students or prepare\u00a0for the return of such students?\u00a0<\/span><\/b>\u00a0<\/span><\/p>\n

Ivan Lam says developers who haven\u2019t launched their projects have been redesigning to cater to lifestyle changes and work-from-home schedules. Australia\u2019s real estate will see a majority of developers focus on appeals to new styles of living, and design products that are capable for the market. <\/span>\u00a0<\/span><\/p>\n

The Property Report editors wrote this article. For more information, email: propertyreport@propertyguru.com<\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Experts share insights into the current and future of Australia’s real\u00a0estate market\u00a0<\/p>\n","protected":false},"author":12,"featured_media":24488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[149,2103,528,1057],"class_list":["post-24484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-australia","tag-homebuying","tag-market-update","tag-rebound","news_country-australia","news_author-property-report"],"acf":[],"yoast_head":"\nAustralian developers continue to build as they see an end to COVID woes | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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