Prime Perth project gets SG sales launch

New river view apartments in the Australian city of Perth will be the focus of a Singapore property exhibition this weekend.

Real estate firm Knight Frank is launching sales a new development, Aurelia (pictured), set in the prestigious riverside suburb of South Perth in Western Australia. The project commands views of the city and river, and is the latest upmarket apartment complex to be launched by one of Western Australias largest and respected apartment developer Finbar.

The 116 apartments and two-penthouses will be released for sale on Saturday, March 7. The project is due for completion in early 2017.

According to Linda Chern, Director of International Project Marketing at Knight Frank Singapore, Aurelia represents smart and sophisticated living, in a highly desirable suburb that not only enjoys the best views of the city, but also has a bustling urban mix of cafes, restaurants, bars and boutiques.

She said: From South Perth, its only a short ferry ride to the Perth central business district and Elizabeth Quay, a precinct being transformed to integrate the citys riverfront into a vibrant destination for locals and visitors.

South Perth is also close to some of Western Australias finest universities and education facilities. And despite being close to the congestion that comes with a global city, South Perth enjoys a clean, fresh atmosphere of riverside living. It has long been regarded as one of Perths most prestigious suburbs and its easy to see why.

Michelle Ciesielski, Associate Director at Knight Frank Residential Research, said the South Perth market had witnessed capital growth of 0.5 percent over the quarter to December 2014, with average annual capital growth of 4.1 percent recorded over the past three years.

For investors, over the same time, gross rental yields averaged 4.84 percent, up from the 4.24 percent averaged over the previous three-year period, Ciesielski added.

Annual population growth for Greater Perth over the next 10 years is projected to reach 3.6 percent, with most of this likely to occur in the inner-city ring, which includes South Perth.

The Australian Bureau of Statistics reports that in the 10 years to 2013, the South Perth local government area population grew an average of 1.8 percent, with population growth of 2.7 percent estimated in the last year alone.

We expect sales at Aurelia to be brisk, given the pent-up demand and the fact theres been historically strong demand for apartments that are close to Mends Street, and offering views of the river and city, added Chern.

New developments will bring even more street-front cafes, even better shopping and further improved facilities in general.

The Singapore property exhibition for Perth's Aurelia development, in association with Knight Frank Singapore, will take place on Saturday, March 7, and Sunday, March 8, between 11am and 7pm at Four Seasons Hotel, Windows East Room, 20th Floor. A presentation will also take place at 3pm on each day featuring Niel Kay, Senior Director of Knight Frank Perth Residential, who will be discussing the 'Perth Market Outlook'.

Andrew Batt, International Group Editor ofPropertyGuru Group, wrote this story. To contact him about this or other stories emailandrew@propertyguru.com.sg

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