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The investment value of your rental property is only as sound as the tenants you have in it.
Good tenants will take care of your property, keep you up to date with any maintenance issues and provide a reliable source of income. Bad tenants can disrupt your cash flow, prematurely age your property and will end up costing you more in property management fees.
Don’t underestimate the value of tenant retention. Each time you lose a tenant, you’re losing valuable cash while your property sits vacant.
Property Observer brings you five tips for getting and keeping the right tenants.
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Don’t set rents too high While slugging tenants with the highest possible rental rates might seem like the best way to squeeze cash from your investment, the practice may actually harm your tenant retention rate, costing you more money in the long run. If tenants are too pressed for cash or see something more affordable pop up on the market, they may move on, leaving your property empty while you search for new renters. Just because one tenant can afford to pay extra for now, that doesn’t mean that others will do the same once that renter moves on. Gary Triganza of Sydney agency Kelly &amp; Sons told Property Observer that landlords should consider keeping rents slightly below the market rate to retain a great tenant. “Landlords can then go to the full market rent with the next tenant,” he said. If you set rent at $590 per week rather than $600, it will cost you (and save your tenant) $520 a year – less than a single week on the market will cost you should they vacate. Setting your rents too high will also scare off good tenants. Beware of prospective renters that are willing to pay well above and beyond market prices – they may be desperate because they have poor rental histories. 
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Don’t set rents too low Setting rents too low may leave you vulnerable when you decide it’s time make an increase, with a big jump in the rent likely to scare away your tenants. Gradual adjustments to market value over a long period of time are more likely to go down well with your tenants than a leap at the six month mark. Be cautious about setting your rent too low to attract tenants. If your tenant is living in your property only because it is affordable, rather than desirable, they may not take good care of the property. Remember, you probably won’t hold your investment property forever. When it comes time to sell, buyers will enquire about your rental yield – and will be turned off if it is well below market value. 
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Keep up with maintenance Although rental markets in certain capital cities are tight, don’t underestimate your tenants’ need for quality housing. As a landlord, it is your responsibility to provide safe, clean and well maintained housing to your tenant. Don’t be fooled into thinking you hold on the cards because you are the property’s owner – they are paying you money in exchange for the provision of a service. If you want to maintain a good relationship with your tenants and your source of income, maintain your property. Don’t dodge calls from your property manager, don’t be stingy when it comes to required repairs and if you’re choosing to maintain the property yourself, make sure you show up on time. Properties all see inevitable wear and tear, regardless of the tenant. But when renters see that you are on top of the necessary repairs, they will be more likely to take good care of your property. 
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Have a good relationship with your property manager Property managers are there for every step of the tenancy process, from sourcing good tenants to keeping them happy and finally guiding them out of the home when the time comes. Your property manager should be on good terms with your tenants and work hard to keep them happy. They should be on top of any necessary maintenance issues and quick to let you know if any issues arise. Don’t have <a href="/expert-insights/investing/property-managers-should-not-have-to-be-on-call-24-7">unrealistic expectations of your property manager</a>,  but do make sure that you are in regular contact. Unfortunately, not all property managers were created equal. Some will be easier to get into contact with than others, who never seem to be within answering distance of a phone. Make sure you <a href="/news/how-to-choose-the-best-property-manager">choose a good property manager </a>when you purchase your investment property, and don’t be afraid to change property managers if you need to.  
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Let the bad ones go  Don’t think that you have to put up with bad tenants. If your tenant is failing to pay rent or causes damage to your property, you are able to take action. Depending on the state, you may be able to immediately evict a tenant if they are causing malicious damage to your property or after two weeks if they are late on rental payments. You may also be able to evict a tenant before the end of their lease if they are <a href="/expert-insights/investing/seven-ways-to-detect-if-your-investment-property-is-being-used-as-a-drug-lab">using your property for illegal activities</a>, putting their neighbours in danger or keeping other tenants in the property without your knowledge.
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Being a good landlord isn't just the right thing to do, but will end up making you more money in the long run. If you are a reliable landlord who takes care of your property, you can retain reliable tenants who do the same.
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jrichardson-uRX5hFdKfN

Five tips for keeping good tenants

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Australia's CHRISTOU Design Group will go on to compete at the Asia Pacific Property Awards after being awarded the Best Public Service Interior for Perth’s St Hilda’s Performing Arts Centre at the Asia Pacific Property Awards.
It was the only Australian entrant to best its competition in the Asia Pacific at the awards last week.
 <img src="/images/2014/05/15/christou.JPG" alt="">
St Hilda's Performing Arts Centre 
Although they won’t go on to compete at the International Property Awards, a good number of Australian architects, interior designers and developers were given five star reviews by the 70 strong judging panel.
Among the Australian properties given five stars were Platinum Apartments, Redgen Mathieson’s Bondi House and Albert Park’s 88 Beaconsfield Parade.
The development at 88 Beaconsfield Parade, pictured below, won the award for best Australian Architecture for Multiple Residences for Omiros One Architecture.
<img src="/images/2014/05/15/88%20beaconsfield.jpg" alt="">
The 27 apartments in the complex are set over five levels in Melbourne’s Albert Park, with a single corner retail space on the ground floor. Redgen Mathieson’s Bondi House, pictured below, was awarded Best Australian Architecture for a Single Residence.
<img src="/images/2014/05/15/bondi%20house.jpg" alt="">
The four level house sits on a narrow site on Bondi Beach. Designed by Redgen Mathieson in 2011, the home has easterly views of the ocean.
Melbourne’s Platinum Apartments, pictured below, garnered five stars for architects Squillace. Developed by the Salvo Property Group, Platinum won the award for best Australian Architecture for a High Rise Development. The Southbank high rise on City Road is Melbourne’s second tallest tower.
<img src="/images/2014/05/15/platinum.jpg" alt="">
Harry Triguboff was another big winner on the night, with his 81 storey Brisbane tower <a href="/expert-insights/buying/harry-triguboff-s-tallest-brisbane-creation-wins-best-high-rise-award">Infinity receiving the award for best Australian Residential High Rise development</a>. 
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Asia Pacific Property Awards winners announced

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For the uninitiated, an auction can be an overwhelming experience.
There are a lot of auction tactics and tricks floating around – ask one person for their tips and the next will give you the opposite advice. Here are four things to keep an eye out for at an auction that could play to your advantage.
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The competition  The auctioneer is the natural ring leader of the show, so it’s tempting to cast your eye towards them. But when at an auction, keep one eye on the other bidders. They’re your competition, so it’s what they do that really counts. 
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The numbers If you arrive at an auction and there’s only one other couple and the next door neighbours who have turned up for a sticky beak, you might be in luck. Fewer bidders may mean that there’s not much interest in the property which could give you the opportunity to snap it up. A big turn out might signal some tough competition, but it could just point to observational interest in the property, especially in the case of unique or trophy homes. 
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The “on the market” announcement This one’s a case of ears over eyes. Under quoting by agents means that you might approach an auction underestimating the price that sellers are willing to accept. <a href="/expert-insights/assessing-scott-papes-12-tips-for-auction-bidding-and-listings">Both Jonathan Chancellor and Barefoot Investor Scott Pape agree</a> that the “on the market” announcement is the pivotal moment in any auction. 
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The “knockout” bid One of the keys to bidding well at auction is recognising your competitors’ tactics. Don’t be intimidated if another bidder suddenly jumps up the price when bidding has been slow. Remember your limit and don’t be afraid to bid conservatively. Olivier Stier of buyers agency OH Property group <a href="/expert-insights/buying/twelve-tips-for-bidding-at-property-auctions">recommends setting your limit well before the auction.</a>  "This price should be set the night before the auction and should be entirely independent of the likely level of competition on auction day or what other buyers may possibly bid," he says. "These are things which you have no control over and should not influence the price you are prepared to pay. "
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Four things to look out for at an auction

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Canberra’s units sat at a median price of $412,500 for the quarter to April 30, according to RP Data.
Attracting gross rental yields of 5.1%, the value of units in the capital city dropped 0.1% for the month. The city also <a href="/news/act/howard-government-era-canberra-property-price-falls-tipped-in-abbott-budget-fallout">recorded the weakest growth in dwelling values</a> of any capital city in the three month period. 
Property Observer looks at the city’s recent sales to see what $412,500 will buy you.
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<a href="https://www.realestate.com.au/property-apartment-act-braddon-115933851" target="_blank">1/3 FAWKNER STREET, BRADDON </a>
<h1><img src="/images/2014/05/15/1.jpg" alt=""></h1>
A two bedroom, one bathroom apartment sold in March for $412,500. The ground floor unit in the  On Q complex was designed by Architects Ring &amp; Associates, the Koundouris Group, Dezign Team, Cia Landscapes &amp; Design and Archertec Interiors. On Q is situated among many other low rise apartments and townhouses on the tree lined Fawkner Street. 
Price: $412,500
Bedrooms: two
Drive to CBD: five minutes
<a href="https://www.realestate.com.au/property-apartment-act-braddon-115933851" target="_blank"> </a>
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<a href="https://www.realestate.com.au/property-apartment-act-barton-115964203" target="_blank">29/41 BLACKALL STREET, BARTON</a> <img src="/images/2014/05/15/2.jpg" alt=""> This one bedroom, third floor apartment is located on the edge of Canberra’s Parliamentary Triangle. It sold for $410,000 earlier this year. Inside, there are granite kitchen bench tops and a balcony that overlooks the complex’s communal gardens. Body corporate fees will set the owners back $4,110 per year. Price: $410,000
Bedrooms: one
Drive to CBD: six minutes
 
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<a href="https://www.realestate.com.au/property-unit-act-bruce-114830199" target="_blank">125/8 BAUDINETTE CIRCUIT, BRUCE <img src="/images/2014/05/15/3.jpg" alt=""> </a>Vendors got $427,000 for this Bruce apartment. The unit has two bedrooms and three bathrooms on 104 square metres of indoor floor space, which opens up onto a private outdoor dining area. The air conditioned apartment comes with two secure parking spaces and access to a pool. The buyers can expect to pay $852 in land rates this year. Price: $427,000
Bedrooms: Two
Drive to CBD: 12 minutes
 
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<a href="https://www.realestate.com.au/property-apartment-act-watson-115860799" target="_blank">9/25 ASPINALL STREET, WATSON <img src="/images/2014/05/15/4.jpg" alt=""> </a> Sold for $410,000 in February after 86 days on the market, this three bedroom, two bathroom apartment is located in the North Canberra district of Watson. With two outdoor balconies, the unit is surrounded by greenery near the Mount Majura nature reserve. The vendors purchased the home in late 2005 for $290,000.  
Price: $410,000
Bedrooms: Three
Drive to CBD: 11 minutes
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What can you buy for Canberra's median unit price?

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Defence Housing Australia (DHA)’s community development in Sydney’s North Shore will launch seventy properties this weekend with its Canopy release.
Upon completion, Crimson Hill will comprise 345 residences across a number of precincts. The development abuts the Lane Cove national park, a feature Colliers International project director Curtis Field says is a point of difference in the North Shore market.
“I think when you look at that Ku-ring-gai, middle North Shore market, it’s typified by high density apartments along the Pacific Highway; right on the main road, and in and around the train stations as well,” says Field.
“There’s been a history of opposition to a lot of these developments by local residents. They’re up against the highway, and visually they tend to be unattractive. We’ve had quite the opposite response to Crimson Hill, where the community is designed to be harmonious with the bushland.”
<img src="/images/2014/04/28/DHA_CH_DG_Interior_Living2_Small.jpg">
According to Field, the local bushland has attracted buyers looking for a lifestyle change.
“We’ve seen purchasers come in who want to downsize and have something brand new, not on the highway, not sitting on the train station, but bordering the bushland,” he says.
“The downsizers are a big component of the market, but we’re also getting a few investors for the one bedroom and two bedroom apartments.
“They can go up back to the highway and buy something, but it’s going to be smaller. These apartments are slightly bigger, with better fixtures. So we’re looking at quality, rather than affordability.”
One bedroom apartments in the Canopy Release are priced from $550,000. Two bedroom apartments start at $650,000 and three bedroom apartments at $860,000. Field says that investors can expect 5% yields from the one and two bedroom apartments.
Upon completion, Crimson Hill residents will have access to a large community centre and a synthetic soccer field, both operated by the Ku-ring-gai council.
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DHA’s Crimson Hill releases seventy new apartments 

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After highlighting the region late last year, Property Observer revisits the New South Wales city of Albury to see what has changed in the city’s property market.
<a href="/news">Albury</a> is separated from its twin city of <a href="/news">Wodonga</a> by the Murray River. The city has a population of 50,243 people, which is expected to grow to 68,570 by the end of 2031. Albury’s Gross Regional Product was $2,806 billion in 2013, making its Gross Regional Product per worker $131,784 for the year. This result is slightly under the state Gross Regional Product per capita of $159,021.
The region was raised last year as a potential growth area, with <a href="/news/nsw/investors-advised-albury-one-of-five-regional-nsw-markets-at-bottom-of-property-cycle-herron-todd-white">Herron Todd White’s August 2013 report</a> saying that both houses and units in Albury were at the bottom of the property market cycle.   
According to RP Data, the greater Albury area’s median house price was down 1.9% from the year before, with Albury city’s median house price down 7.5% from 2012.
Earlier that year, Observer <a href="/expert-insights/investing/diversity-is-the-key-to-residential-property-investment-success-terry-ryder">Terry Ryder also cited the area in his “hotspotting"</a> reports due to the region’s “diversity and solidity”, writing that the area avoids exposure to the volatility of economic cycles. 
This sentiment was echoed last year by Peter Drummond of Drummond Real Estate, who told Property Observer that the market was “very normal”.
“There are positive things about the market and some people are predicting it as a bit of a boom town – I think it will remain steady and strong,” he said.
Employment is spread over a range of sectors in Albury, with the majority of the city’s 21,293 workers are employed in health care and social assistance industries, followed by retail sector workers.
To further ensure the strength of the region’s economy, the local government has outlined a Digital Economy Strategy, intended to help businesses “transition into a world that is increasingly digitised”. Albury City and Wodonga City committed to a range of initiatives that it predicts will contribute to Albury-Wodonga’s economy by as much as $571 million per year.
Last month, Albury recorded one of the biggest drops in its vacancy rate, according to the Real Estate Institute of New South Wales. The city’s rental market tightened over the month, dropping 0.5% to 1.6% - the same vacancy rate as Sydney’s inner city. It is now even harder to find rental accommodation in the city than six months ago, when the vacancy rate sat at 1.8%.   
According to RP Data, the city’s median house price was $325,000 for March. Units went for a median price of $167,175 in the same month, though February’s median sale price of $355,000 suggests seasonal variation or a month to month difference in the type of stock sold.
<a href="https://www.realestate.com.au/property-house-nsw-east+albury-116926095" target="_blank">This home in East Albury is currently on the market</a> through Sue Moss of Zelle Albury, who is quoting $379,000 for the property. 
 <img src="/images/2014/05/15/albury.jpg" alt="">
The three bedroom, two bathroom brick house with a double garage is set on an 863 square metre block. It includes a formal lounge, a gallery kitchen and a separate dining area. It was last advertised for rent at $385 per week.
Feature photo courtesy of Richard Taylor/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Suburb spotlight: Albury market is "steady and strong"

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The First Home Saver Account scheme was one of the Rudd government initiatives axed in the Abbott government’s first federal budget.
Under the scheme, First Home Saver Accounts were given concessional tax rates and government co-contributions. Despite offering a concessional tax rate of 15% on interest earned in the accounts and awarding 17% co-contributions on the first $6,000 deposited by savers each year, the scheme failed to attract many savers preparing to purchase their first home.
The scheme’s low take up has been attributed to poor marketing and the regulations attached to the accounts. In order to qualify for the benefits, savers needed to deposit a minimum of $1,000 a year over four years before they could withdraw any money in the account. If the money was not used for a payment on a saver’s first home, it was added to their superannuation account.
Any new accounts created after 13 May will be ineligible for tax concessions or co-contributions. Existing accounts will not receive any co-contributions after 1 July 2014. National tax director of professional services firm BDO Lance Cunningham says that the government has begun winding down the scheme.
“It’s basically been abolished but with a phase out, so that from budget night you won’t be able to open any more new accounts. But for existing accounts, the co-contribution will cease from 1 July 2014.”
Savers who hold existing accounts will be able to receive co-contributions for deposits made in the 2013-14 financial year up until July.
“Be careful, it’s only a budget announcement,” says Cunningham. “But it seems to be fairly clear that if you make contributions before July this year, the co-contributions will be honoured.
“If you haven’t reached the co-contribution cap, which I think is about $6000, you might consider depositing more money in the next month to receive your co-contribution.”
Although co-contributions will end on July 1 this year, tax concessions will continue for another year.
“The tax concessions will still be available up until July 2015,” says Cunningham. “They will still be treated as First Home Saver Accounts, but the concession ceases after that date. After July 2015, they will be treated as any other account.”
Savers who have held their existing accounts for less than the four year period will have to wait until 1 July 2015 to withdraw their savings.
Steven Gunzburg is a 26 year old account manager who holds a First Home Saver Account. He says that though he understands why the scheme is being scrapped, it provided good incentives to save.
"I was contributing the maximum amount, which increased over the past 3 or 4 years, every year." 
"Mainly it was a fantastic way to incentivise people to think about saving from a much earlier age. There’s no way in the world that it’s going to make the vast majority of my deposit, but it helps you get into the right mindset."
Gunzburg opened his account when he was 18 or 19, after his mother explained the benefits of the scheme.
"My mum actually found out about it, explained it to us and I begrudgingly put quite a reasonable amount of my money into the account," he says. But Gunzburg says that the scheme had its downsides.
"Part of the problem with the scheme was that it was so complex and convoluted, it was incredibly hard to understand when and how you could access your money."
When the scheme was announced in 2008, the Rudd government predicted that 750,000 First Home Saver Accounts would be opened over the next four years. However, as of December last year, only 46,000 accounts had opened.
Late last year, <a href="/expert-insights/calls-for-urgent-revision-of-first-home-saver-account-scheme">comparison website RateCity called for changes to the scheme</a>. Chief executive Alex Parsons said that at the time, none of the “big four” banks offered the accounts.
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First Home Saver Accounts scrapped: What now?

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News that the Abbott government will abandon the fifth tranche of the National Rental Affordability Scheme (NRAS) has brought mixed reactions from the housing industry.
The scheme provides tax free incentives to developers and investors providing approved housing to the rental market at 20% below market value. According to the government, there are no current funds allocated for any future rounds of NRAS, with all money that was allocated to the fifth round returned to the budget and redistributed elsewhere. The <a href="/expert-insights/national-rental-affordability-scheme-nras-fifth-round-will-not-proceed-2014-budget">2014 budget papers suggest</a> scrapping the scheme will result in savings of $235 million over three years, and will reportedly could contribute $1 billion to revenue savings over the program's life.
Developers who have already received NRAS approval for their projects will continue to receive payments for up to ten years so long as their eligibility requirements are met and their constructions proceed according to the pre-arranged timelines. 
However, the Department of Social Services will be withdrawing financial support for projects where “insufficient progress” has been made in the dwellings’ construction. Investors are still able to invest in NRAS properties, as some 18,000 dwellings are still to be delivered. This yet to be completed apartment in Sydney’s Harris Park is currently advertised by Onyx (pictured below), a property investment advice company that markets NRAS approved dwellings.
<img src="/images/2014/05/14/NRAS%20ad.JPG" alt="">
Investors who own completed NRAS approved properties will this year receive $10,661 from the government. All applications for NRAS’s fifth round of approvals, which closed in August last year, have been abandoned and will not be approved.
The Housing Industry Association (HIA) has described the abandonment the final round of the National Rental Affordability Scheme as disappointing.
"The scheme has resulted in thousands of affordable homes for low and moderate income households, increased Australia’s housing stock and generated countless jobs the process,” said Graham Wolfe, the HIA chief executive. 
Prior to the budget announcements, HIA's chief economist Harley Dale told the Financial Review that the scheme had delivered affordable housing for thousands of Australians. “It’s been a good scheme that has helped boost low-cost rental accommodation, and we would like to see it continue,” he said.
The Urban Development Institute of Australia (UDIA) described the move as a “major disappointment.” “Since its establishment in 2008, NRAS has delivered 14,575 new homes for low and moderate income households, and was on track to provide 23,884 more,” said UDIA’s national president Cameron Shephard.
However, the Real Estate Institute of Australia has welcomed the Abbott lead government’s decision, with president Peter Bushby calling the action “one REIA supports”. 
In February, SQM Research managing director Louis Christopher told Property Observer while the scheme needed to be adjusted to keep out "dodgy developers" and improve transparency, "the NRAS is a good idea, and we’re supporters of it."
The NRAS was launched by the Labor government in 2008 as a partnership between the Commonwealth and state and territory governments.
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No future for NRAS as fifth round is scrapped in 2014 budget

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Buyers looking to stake their claim to Romania’s Bran Castle finally have the chance.
The castle was formerly the home of Vlad “The Impaler” Tepes, the member of the House of Draculesti who is said to have inspired Bram Stoker’s Count Dracula. However, rather than ruling the castle and terrorising local villagers, Vlad is thought to have stayed prisoner there for two months in 1462 after being captured by the Hungarian army. Also known by his patronymic name Drăculea, Vlad earned a reputation for torturing and maiming his victims. 
The castle is owned by Archduke Dominic Habsburg and his sisters, Elizabeth and Maria Magdalena. The Habsburgs were expelled from the castle when Dominic was 10 in 1948 when the area came under communist rule. Bran Castle was returned to the family in 2007.
But now it seems that maintaining the drafty old castle is becoming quite a drainer for the Habsburgs. Dominic, Elizabeth and Maria Magdalena are now all in their 70s and faced with operating the sprawling castle as a tourist venture. The family attempted to sell the castle in 2006 to the Romanian government for a reported A$94 million dollars, with no luck. They tried again to put the castle on the market in 2007, but again with no biters.
The castle has 57 rooms, with uninterrupted mountain top views. However, though the reported 560,000 visitors that walk through Bran Castle every year have access to bathrooms, there are none in the residential wing of the castle. They were reportedly ripped out by the communists when the castle was seized.
According to Fox News, current selling agent Mark Meyer from New York’s Herzfield and Rubin refuses to discuss the price. Meyer told the Telegraph that the Habsburgs are keen to see the castle continue as a tourist destination once it is sold.
“Archduke Dominic and his family care very much for the castle, and it's in far better shape now than it was when run by the government," Meyer said.
"The aim, though, is to take the whole thing a stage further, re-route the road and make Bran a destination, the kind of place people will stay for two or three days."
"We'd like whoever buys the castle to continue running it as a tourist destination. This isn't just a national monument, it's the largest and most significant attraction in Romania," he added.
Photo courtesy of Wikipedia/Creative Commons.
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Dracula’s Transylvanian haunt up for sale

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Local public and private infrastructure is a key determinant of value for property. But what are the local amenities that really support price growth?
Many investors were keeping a close eye on the federal budget, with big projects on the way as part of a <a href="/expert-insights/investing/the-budget-will-be-big-on-infrastructure-but-we-need-more-than-just-roads">$10 billion infrastructure package from the Abbott government</a>. 
As Observer Terry Ryder has said, to predict price growth, <a href="/expert-insights/investing/follow-the-infrastructure-trail-to-find-future-growth-suburbs">you need to follow the infrastructure trail</a>.
Property Observer looks at the pieces of infrastructure that will deliver value to your property purchase.
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Train stations Prices will be boosted by infrastructure that increases demand from the desired buyer groups. Easy rail access to employment hubs will make a suburb popular with employed professionals, workers and students. 
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<li>
Education facilities  Good schools, kindergartens and universities will all drive demand for a suburb. Not only do schools support population growth for up and coming suburbs, but good quality schools will attract buyers who are willing to buy their way into the right school zone, <a href="/news/hot-topic-buying-property-to-secure-children-a-school-place">as seen in Balwyn and McKinnon.</a>  
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Airport  As we learned from The Castle, properties can languish near the noise and pollution offered by an airport. But away from the flight path, prices can flourish thanks to increased employment and tourism in the area. Many are looking towards Badgerys Creek to see if <a href="/expert-insights/sydneys-new-airport-at-badgerys-creek-will-be-a-double-edged-sword-for-investors">Sydney’s second airport will pay off for investors</a>. 
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Roads  Roads, like rail, will attract buyers who need to be connected to employment hubs. Brisbane’s <a href="/expert-insights/investing/nine-brisbane-suburbs-to-become-property-hotspots-place-advisory">Toowong, Woolloongabba and Hamilton</a> are all set to benefit from road projects in the coming years. 
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Hospitals  Hospitals and other emergency services are vital pieces of infrastructure for a suburb. While Hobart’s property market is still underperforming, some believe that the $340 million secured by Independent Andrew Wilkie for the redevelopment of the Royal Hobart Hospital helped keep the city’s market out of an even deeper slump. 
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National parks  Tourism and recreation facilities are often key drivers of demand for a suburb. Colliers project director Curtis Field, who is marketing the New South Wales North Shore community development Crimson Hill, says that the national park bordering the project has been a big draw card for buyers. “We’ve seen purchasers come in and want to downsize and have something brand new that’s not on the highway, not sitting on the train station, but bordering the bushland,” he said. 
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Jetties and marinas  The past year has seen many developers marketing jetties and marinas as prime pieces of private infrastructure for new apartments. One such development is Wyndham Harbour in Port Phillip Bay, <a href="/news/buyers-to-navigate-towards-wyndham-harbours-the-lighthouse">set to be Victoria’s biggest marina upon completion</a>. 
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 Whether public or private, local infrastructure will be a major factor in the kinds of buyers your prospective property attracts. Recreation facilities could attract young families or retirees, roads and rail can lure professionals and students and jetties and marinas can help secure luxury buyers for waterfront suburbs.
If you're looking for price growth, make sure you keep one eye on the infrastructure to come.
Photo courtesy of Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Seven ways infrastructure boosts your property’s value or investment outcome

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

Jessie Richardson

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