So following on from the Multi Unit Conference, another speaker at the event was Joanne Chin, formerly of Colliers.
Joanne spoke of the increase in FIRB purchasers, with some development projects showing sales as high as 40% attributed to foreign investment (average was 5%).
These purchasers were local students, overseas residents anticipating relocation and then also foreign investors.
Typically these purchasers were seeking projects in Northbridge, East Perth and CBD.
Joanne made the valid point that some projects in the CBD were ideally suited for overseas markets.
It is worth therefore assessing if your project meets this criteria, before entering into this marketing realm, as it can be a very expensive exercise.
Certainly food for thought!
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