Wednesday, 6 June 2012

SYDNEY UPDATE The Mark at Central Park May 2012

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 The Mark at Central Park May 2012 


       Frasers-Sekisui House Central Park sales quick off the mark, with 100 bought in third tower

By Jonathan Chancellor
Wednesday, 06 June 2012

Frasers Australia chief executive Guy Pahor says the current NSW stamp duty exemption on new dwellings under $600,000, which is due to expire on June 30, has “galvanised” some buyers.
“Strong sales in the sub-$600,000 price point are clearly motivated by the imminent deadline,” he suggests.
“We have yet to hit buyer fatique,” he says, with the aim that all 1,400 apartments in the main three towers will be sold by the time The Mark is completed in early 2014. Construction on The Mark began before its sales marketing campaign.
“We believe in the Sydney story of undersupply,” he says, adding it took “courage and conviction” to proceed in the face of “negative newspaper headlines”.
“There is no reason for the sales rate to change. But am I paranoid it might change? Yes.”

While noting Sydney was not likely to record a rise in property prices over the next 12 months, Pahor indicated he was expectant Central Park would continue to maintain its consistent sales momentum.
With the Fraser brand well known in international property markets,
 The Mark also attracted $15 million worth of sales in one recent weekend in Singapore.

Only 25% of Central Park’s sales have been offshore.
The project with include several low rise apartments taking the total to about 2000, along with 77,000 square metres of commercial space, 23,000 square metres of retail space and 2,000 parking spaces.
It will accommodate about 2,500 residents and 5,400 workers.

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