How Meriton moves will benefit them from increasing Building Costs

CAAN Photo: Meriton ‘Destination’ Macquarie Park; further development underway for a 63 storey tower

DESPITE increasing building costs Triguboff remains upbeat about the apartment market … why wouldn’t he? The * Gatekeepers in Australia remain exempt from Anti-money laundering laws … with the Australian Housing Market opening up to Singapore, Malaysia, India …

THE latest from Meriton … it has lodged plans for a 30 storey apartment tower comprising 211 apartments above six levels of basement parking in Oxford Street EPPING close to the business area and Metro station. It will rise above its neighbours of 15 and 22 storeys.

Following the scandal of the Opal Tower, the Mascot Towers and the release of reports concerning the thousands of defective developments there was buyer resistance.

But with the housing boom a large cohort were priced out of detached housing, and had to resort to apartments reducing supply.

For those developers remaining in the market aside from Meriton, and following all the bad press, they are concentrating on smaller-scale, high-quality projects.

However MERITON is maintaining its high-rise developments to capture not only overseas investors (buyers), local investors, and the growing rental market for Australians locked out …

Storey upon storey Meriton makes a motza!

Did Harry lead the way through the Urban Taskforce for high immigration to boost sales in the  apartment market?  Cough … cough …

Harry has said:

“China has more than 1 billion people, and they love Australia. I think they love Australia as much as we love Australia. So there will always be enough of them that will buy.”

“The problem with Australians is they are very slow. They ask their lawyer, they ask their financial adviser, they ask their family, they ask everybody. The Chinese don’t ask anybody, they come off the plane, buy their unit and go.”

IN fact many stayed having gained a Permanent Resident Visa with benefits …

From early 2022 MERITON has experienced 50% of its sales from returning investors with a 10% growth in its rental market over the past 12 months to grow even more with the return of students and migrants …

MEANWHILE Meriton has massive projects currently proceeding in Macquarie Park (two), Sydney Olympic Park, Parramatta (66 STOREYS)  and …. in the Gold Coast Queensland … Melbourne …

WITH international borders opening increases the competition and prices of these dwellings for Australians especially when competing with ‘hot money’ …

Triguboff said he expected unit prices to rise considerably in 2022 as construction costs continue to surge across the country and international borders reopen to migrants and students, placing pressure on the already low supply of apartments.

With Meriton occupying a large share of the apartment market it takes a proportionate large slice of the imported fittings and fixtures locking out other builders and clients …

Triguboff said: “at the same time the demand for units from owner occupiers and tenants, while already very strong, will be boosted by the return of international students and workers, so we can expect the prices to go up considerably.”

A win/win for Meriton Property Services which offers up to 90% of the contract purchase price … AND offers a low cost mortgage loan whether a resident or non-resident, investor or owner!

SO that the real question is

What has happened so that Meriton has won more than anyone else?

IT would appear this can be revealed from the disclosed political donations for the most recent elections in NSW and the Nation …

MERITON Properties Pty Ltd donated $260,000 to the Liberal Party of Australia and $10,000 to the NSW Division of the Liberal Party of Australia AND $5,000 to the CDP (Fred Nile Group) … which party is well-known for doing deals with the Libs …

COMPARE that to a mere $10,000 to the Australian Labor Party (NSW Branch) and $50,000 to the ALP (Queensland).

WHAT this means is NOT GOOD FOR US … that Meriton holds more sway with this Government like that indicated previously:

“Then I will bring in more migrants”.
Harry Triguboff in the AFR in response to a question about oversupply of apartments.

http://www.afr.com/real-estate/phil-lowe-he-worries-me-a-bit-says-triguboff-20161019-gs5vg8

AND our Taxes are stretched further to fund an ever increasing demand for infrastructure lagging behind the population growth … and services (Health and Education especially) … since 2013 low wages growth from increased competition of Visa workers … our Families locked out of Home Ownership … facing life-long tenancy … with the loss of Australian communities, urban bushlands, heritage, and quality of life!

READ MORE!~

Meriton Unveils 30-Storey Tower for Sydney’s West

https://www.theurbandeveloper.com/articles/meriton-oxford-street-epping-development-application?utm_source=TUD+-+Daily+Briefing&utm_campaign=67ee52923f-EMAIL_CAMPAIGN_2021_08_11_01_49_COPY_01&utm_medium=email&utm_term=0_982c36d415-67ee52923f-195692726

The Liables maintain the Sell-Off of Aussie Real Estate

No photo description available.
CAAN Photo

‘Hot Money’ pushes up House Prices …

As Michael West correctly points out what is behind the sky high property prices is money laundering ….

“Launder your Money through Australian Real Estate”

The 14-year govt dither on money-laundering reforms puts pressure on property prices. Minister responsible now Karen Andrews: no response #auspol #AML

https://youtu.be/03cAijFkfoo via YouTube

As these ‘investors’ are lured and enticed by the prospect of a Permanent Resident Visa!

… This is apart from low interest rates, government grants, and tax benefits for property investors from negative gearing and capital gains tax … together they are all pushing up house prices!

With the first wave from China that began in the late 1990s during the Howard Government enticing the Middle Class Chinese to invest in our education and real estate to gain ‘Flexible Citizenship’ which led to a housing boom in the early 2000s peaking in 2004 … as Refugees were scapegoated …

And so it continued again peaking in 2015 with the high-rise Precincts across Sydney to forever change our low-rise bushland suburbs ..

Then in 2021 the Singaporeans eclipsed the Chinese with $20Bn investment in our real estate

Business Insider:

NEXT … the Malaysians are targeted too! 

“Where is the Best Place to Buy Land in Australia”? 

The East Pilbara in Western Australia, Broken Hill second, Melbourne for property development …https://malaysiandigest.com/where-is-the-best-place-to-buy-land-in-australia/

AND … SINGAPORE Again!

“Singapore REITs double their Overseas Investment to US$12BIL”

‘ … deep liquidity pools in overseas markets like the U.K., U.S. and Australia, as well as more alluring freehold and longer lease terms will maintain the draw of markets abroad, said Natarajan. “We expect this trend of overseas acquisitions to continue.” ‘

https://www.nst.com.my/property/2022/01/763655/singapore-reits-double-their-overseas-investment-us12bil

WHAT Enticements would lead Middle Kingdom Buyers away from EVERGRANDE to Flock Aussie Housing Market?

PREDICTION that cashed-up Chinese buyers to again swarm our housing market because they can … when the border opens up …. with China’s Evergrande and other developers collapsing as oversupply hits

IT’s obvious, isn’t it, why “the Australian gatekeepers” are exempt from anti-money laundering laws in Australia?

SO that there are no investigations into where the money is coming from … how it was earned?  Was it appropriately taxed?

HOW come students earning Visa Worker rates can afford $2M homes? Then gain Permanent Residency and follow up with a ‘Family Visa’ ….

 BECAUSE if these AML laws were implemented and enforced the market share for high-rise precincts would evaporate because a whole Cohort of Australians are already locked out …. priced out …

MEANWHILE Our Community rights have gone … deve-lopers can buy up the house next door … the one behind and on the other side and soon the block is demolished, and those stranded have lost their ‘home value’ and their amenity …  Our Heritage …. Our Urban Bushlands … and Our Communities with the ‘take-over’ …

WHY wouldn’t these foreign buyers be lured here through access to the Chinese website (Juwai) for buyers of overseas property, which takes advertising from international property marketers, including developers and agents, and their Onshore Proxies here in Australia?

AND with investment in an apartment they too can gain permanent residency, and Taxpayer benefits of our public education and Medicare!  Then with a Family Visa a win/win … for their extended family!!

The Financial Times data has revealed that thirty seven per cent (37%) of 1.4 plus Billion Chinese People own more than one home!

Think about the consequences of this … as outlined above, and that this overdevelopment has obviously contributed to global warming with China the largest emitter of CO2 … because concrete, steel and glass emit CO2 in their manufacture and ongoing use …

AND more want to come here … to buy up Australian homes despite having homes in China … as our families are locked out by low wages … and this foreign money laundering competitionto further increase Australia’s CO2 emissions …

READ MORE!

Cashed-up Chinese buyers swarm Australia’s housing market as the collapse of Evergrande looms

https://www.dailymail.co.uk/news/article-10377347/Chinese-buyers-swarm-Australias-housing-market-collapse-Evergrande-looms.html#newcomment