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Sustainability has driven success stories at a slew of Melbourne developments despite the tumult of 2020.

A November SQM Research report showed inner-city apartment hubs Southbank and Docklands vacancy rates soared to 18 per cent from below 5 per cent in March.

Realestate.com.au chief economist Nerida Conisbee estimated there were almost 12,000 vacant apartments in Melbourne’s CBD in the same month.

But in the city’s middle-ring suburbs even apartment towers were recording hefty sales numbers.

Dealcorp’s Glenarm Square project in Glen Iris notched $27m in sales across 37 apartments across the past year, making it the strongest off-the-plan project for Marshall White Projects, according to director Leonard Teplin.

The 27m tower is the tallest yet developed in the suburb and Mr Teplin said bigger floorplans had joined views in attracting buyers.

“But we are now seeing a growing number of buyers who are passionate about environmentally sustainable design – Glenarm certainly satisfies this requirement,” he said.

Source: https://www.realestate.com.au/news/sustainabilityminded-projects-hold-onto-strong-sales-despite-covid19/



By Peter Hess - 02-Jan-2021