‘Flight to quality’ for off-the-plan apartments – Property HQ

Founder and CEO of Investorist Jon Ellis covers the recent Australian Off The Plan Sentiment Report published by Investorist.

The report indicated that “apartment developers are struggling to sell inferior stock as demand from Chinese buyers slows, and the off-the-plan market is instead seeing a flight to quality.

Rising state government taxes for foreign buyers, tighter bank lending and stricter capital controls have seen demand from Chinese buyers fall by more than a quarter, Investorist’s Australian Off The Plan Sentiment Report found.”

“The market fully expected there would be a rebound shortly after the stamp duty changes took effect, but in reality this was minor,” Investorist chief executive Jon Ellis said.

Read the full article here

This article was first published by Property HQ on July 13, 2018.