SCALING APARTMENT BANG FOR YOUR BUCK

Written on the 8 October 2015

SCALING APARTMENT BANG FOR YOUR BUCK

LOWER price tags on off-the-plan apartments might not mark money well spent for property buyers, according to developer Mosaic Property Group.

Managing director Brook Monahan says those looking to buy an apartment off-the-plan should consider the floor plan size and price per square metre to evaluate the true value of purchase, instead of deciding on price alone.

"You may think that two apartments listed in the same suburb at a similar price point with the same amount of bedrooms and bathrooms would be of equal value, but you should never assume that two dwellings priced the same are comparable in quality or size," Monahan says.

"Buyers shouldn't assume anything from just the listed price, as the gross rate per square metre is the key metric to logically compare value between developments, which is something that buyers need to focus on while looking to purchase an apartment off-the-plan.

"It is also crucial to compare the property's location within a suburb, the quantum of inclusions as standard, as well as the quality of fixtures and finishes provided within the apartment, as these can also differ dramatically depending on the developer.

"For this reason, buyers should ensure they only purchase from a reputable developer with a proven track record in delivering the same or similar quality fixtures and fittings, as those originally promised off-the-plan."

Monahan says Mosaic Property Group's gross rate per square metre of their latest project Liberty by Mosaic shows the benefit and market demand for larger apartment designs.

"Our focus has always been on delivering luxury apartments with larger floor plans and high quality finishes at a competitive price point," he says.

"Liberty by Mosaic represents the best value for money (rate per square metre) when compared to neighbouring projects in Upper Mount Gravatt, with each apartment boasting floor plans up to 20 per cent larger than surrounding developments in the area.

"Although Liberty by Mosaic has a slightly higher listed price, when you compare the total size and square metre rate and the high level of quality fixtures and finishes, which are standard to all apartments in Liberty, you will see that it is actually the best sized and best value apartment project in the area."

 


Latest News

FLYING START TO 2017 PASSENGER NUMBERS FOR GOLD COAST AIRPORT

RECORD numbers of travellers used the Gold Coast Airport (GCA) in January this year, continuing a five-year trend ...

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie th...

ADELAIDE DIGITAL MARKETING GURUS CHANGING THE FACE OF ONLINE RETAILING

Frank Grasso, CEO of Adelaide based Dynamic Creative, believes his company's new software will revolutionise Adwo...

WHY A JUNIOR MINER DECIDED TO JOIN THE RANKS OF THE HOT POT STOCKS

USUALLY, when a relatively unknown explorer experiences a sharp spike in its share price, it means they've fou...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter