OFF-THE-PLAN EXPECTED TO REBOUND NOW THAT RESTRICTIONS HAVE EASED
19 MAY 2020 Leading Australian property developer Crown Group has made $63 million in luxury apartment sales and broken its own record by selling three penthouses in three months, despite Government restrictions on visitors to display suites and open homes.
Crown Group Director of Sales Prisca Edwards said now that restrictions have been lifted at its Mastery and Waterfall by Crown Group display suites in Waterloo, she expects off-the-plan sales to climb further, because the pent-up demand of early 2020 will be released.
“Even considering the restrictions of the past few months and how we weren’t able to have buyers through our display suites, we have managed some extraordinary sales in that time – more than $20 million worth each month, totalling $63 million across February, March and April.
“We also sold three penthouses, across our three newest developments – Arc, Waterfall and Infinity in Sydney and Waterloo. This is a first for us – an extraordinary record breaker, particularly given the limitations our sales team has been working under from the Government restrictions on the real estate industry.”
Mrs Edwards said that some segments of the luxury real estate market were exceeding expectations, particularly for completed products. Off-the-plan sales would be the next to pick up.
“People are seeking the certainty and security of property right now and those with some capital are prepared to secure it,” she said. “Also, we have seen the innovations we rolled out really pay off. We have had a huge level of interest in our video property inspections and our new 360-degree video tours.
“Our online enquiry and web traffic increased to their highest ever levels. We expect that to continue even once displays reopen – we’ll keep using those tools because they actually lead people to come in and see the homes in person. It’s now part of the sales journey.”
Mrs Edwards said that as the situation in China stabilised, off-the-plan sales would grow further.
“We expect another wave of strong migration once flights open up again and people are once again sending their children to study in Australia,” she said.
The doors to Crown Group’s spectacular Waterfall by Crown Group’s display suites and its newly completed resort-style facilities, remain open for property tours by appointment.
The new community has been highly sought-after since it launched in June 2017, when it sold $300 million worth of homes in one day. Inspired by cascading water and tropical rainforests, the design is the work of award-winning SJB Architects, in conjunction with Crown Group, and leads an innovative greenery revolution in the heart of Waterloo.
The apartments and resort-style facilities span three seven-storey buildings and one 20-storey sculptural tower that features a 22m high waterfall – an extraordinary new feature for the suburb.
Waterfall by Crown Group broke the record for the highest-priced apartment in the suburb when it sold a penthouse for $4.5 million in May 2018 – and sold another penthouse in March for $3.67 million.
Visitors who book can tour the one-bedroom, two-bedroom and three-bedroom display units as well as the lush tropical gardens and tranquil outdoor lagoon area with its beautiful bamboo-covered walkway. There are 331 apartments, from studios to courtyard apartments and double-storey penthouses.
Also on display are the spectacular infinity rooftop pool and terrace, with city views, a cantilevered gym, rooftop cinema, residents’ function room with catering kitchen and a music room boasting a grand piano.
A limited number of premium apartments in Waterfall by Crown Group remain for sale starting from AU$713,000
Waterfall by Crown Group Display Centre is open by appointment only at 30-36 O’Dea Avenue, Waterloo.
For more information, visit www.waterfallbycrowngroup.com.au or phone 1800 001 880.