Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Art Deco

Due to its proximity to the CBD, Darlinghurst has long been a popular hub, with its streets lined with a colourful array of characters over its time.&nbsp;

Darlinghurst's transformation over the last decade has resulted in a coveted postcode that is genuine in style with a sophisticated edge.&nbsp;

Kings Cross projected the suburb into the spotlight, becoming a home to Sydney’s night-life, and while much of the Cross’ night-life has been replaced, the boutique shopping and day time dining that fills the streets still holds Darlinghurst as enviable place to live.&nbsp;

<img alt="Image of the surrounding Darlinghurst landscape." data-entity-type="file" data-entity-uuid="dec47375-10ec-4ecd-a570-eee688422c75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-06%20at%2010.56.31%20am.png?VersionId=DTvy.fB6J_khIJ2C.0OvkjVbx7qQadIr" />

Whilst the Cross's character has been somewhat lost; Darlinghurst still is visibly a place of character and ideas, and increasingly is home to the next generation of personalities.&nbsp;

Persona and character are still ingrained in the original buildings that line the leafy streets with 349 Liverpool Street set to be the stage for the next influx of characters.&nbsp;

Sydney-developers Toohey Miller has lodged a development application for the 685 sqm site, with plans to demolish the existing residential building for a new seven-storey apartment building.&nbsp;

Designed by renowned architects, Woods Bagot, the residences will stay sympathetic to the site’s history and heritage, with plans to craft a modern interpretation of an art deco building, delivering 14 two and three-bedroom.

Two apartments will sit across each floorplate, spanning from 95 sqm to 150 sqm, with the level six apartments benefiting from a private rooftop terrace with a plunge pool and seating.&nbsp;&nbsp;

In keeping with surrounding roof terraces, the proposal celebrates the crowning space with a communal resident’s space as well, complete with dining and seating space in addition to the covered amenity space across the ground level.&nbsp;

The building palette is derived from the site through native planting, sandstone materiality, and detailing reminiscent of the original buildings that surround it.&nbsp;

Whilst the glimmer of The Cross has diminished, a resilient sparkle remains through natural metals, the most polished of which adorns the entrances of the buildings.

<img alt="Render of the proposed Liverpool building. " data-entity-type="file" data-entity-uuid="d6168837-3921-435f-b3ac-8756064c67f5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202022-09-06%20at%2011.06.37%20am.png?VersionId=.fJls1JT0hU5e6l3__v4EpvIXarzJPW1" />

The 1970's was a particularly hedonistic period of Darlinghurst's history; filled with the character's that have become urban legends and colourful stories of questionable behaviour.

It was during this period that the terrace houses that once occupied the site succumbed to a particularly damaging fire, destroying all structure.&nbsp;

Remnants of these houses and the fire itself are traced through the contrast in brickwork of the adjoining apartment buildings, while a clear outline is preserved and made visible through the open balconies that flank the proposal.&nbsp;

The other remnant of the original terrace houses is the raised ground level that the terrace houses once sat upon which has to been preserved to create a dialog with the surrounding terrace houses.

In a nod to the original rhythm of Liverpool Street, a continuation of the sandstone fence that marks the boundary and entrance alignment is continued at the face of the new proposal.&nbsp;

“From the first glimpses of the site, this sits the building within the cadence of Liverpool Street at a human scale,” the development application says.&nbsp;

As an interpretation of the apartment buildings that surround, 349 Liverpool Street marks its entrance with a strong vertical element.&nbsp;

“Seen as a continuation of the sandstone materiality, this is an opportunity to identify the building through interpretive art or by overlaying the stories of the characters that once resided in the area.”

The proposed design maintains the original ground plane to preserve this visible link to the terrace houses that once occupied the site while the open breezeway also allows for natural light and air through the length of the building.

In collaboration with Dangar Barin Smith, the landscape design and plant selection for the proposal not only contributes to the liveability of the residences, but also speaks to the origins of the site pre-settlement.

alisonwarters@gmail.com

Toohey Miller to build art-deco apartments on Darlinghurst heritage-conservation site

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Ascot's Lancaster, which exudes all the elegance and luxury of Brisbane's bygone art deco era, has been listed for June 1 auction.
It was designed by celebrated architect Charles H. Griffin for its 825 square metre <a href="https://www.raywhite.com/qld/ascot/2101400/?lang=en" target="_blank">Kitchener Road block</a> in 1938.
He suggested his homes conveyed a “feeling of solidity” which he felt was missing from Queenslander-style homes.
Griffin was famous at the time for designing homes with a trademark cream textured finish above a red brick base and red Wunderlich roof tiles.
Set behind wrought iron front entrance gates, the home's interiors which include cornices, double French doors, leadlight windows and crystal chandeliers.
Ray White New Farm agent Christine Rudolph said the four bedroom home has been meticulously cared for by its vendors for almost two decades, chartered accountants Carmela and Paul Balbuziente, who are downsizing to be close to the water.
This article first appeared in The Weekend Australian.
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Art deco Ascot trophy home Lancaster listed

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The Babington-Lees family, seeking to capitalise on strong market conditions, have listed a block of 11 units in Edgelicff that they have owned for nearly 80 years.
The art deco building cost £29,000 in 1938, three years after it was built.
The property is expected to fetch about $20 million when expressions of interest close November 30 through CBRE and Ray White.
Eynesbury, at 22 Albert Street, Edgecliff, has a rental return of $690,000 a year.
It includes 10 three-bedroom units each of about 164 square metres each.
There is one 400-square-metre penthouse, with harbour views.
The neighbouring house sold this week when investment banker Scott Malcolm and his wife Jane Taylor secured<a href="https://www.domain.com.au/news/investment-banker-scott-malcolm-sells-edgecliff-trophy-home-for-15-million-20171023-gz65uo/?benref=smh" target="_blank"> $15 million for their trophy home Carmel</a>.
The building was on one title, on a 1296 square metre parcel, which could potentially be converted to strata for onsale.
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Eynesbury, the art deco Edgecliff apartment block listed for the first time since 1938

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An apartment in the Art Deco block Kayora is on the market in Carlton.
Listed for between $800,000 to $880,000, <a href="https://www.realestate.com.au/property-apartment-vic-carlhttps://www.realestate.com.au/property-apartment-vic-carlton+north-121822470ton+north-121822470" target="_blank">148 Pigdon Street</a> has been renovated to retain its Art Deco appeal.
The apartment previously traded for $750,000 in 2009, but more recently another traded in the building for $870,000 in 2013.
Polished timber cabinetry, stained floor boards, curved Moderne walls and headlight glass in particular are the classic interiors that have been maintained.
The sleek 1930's style ground floor apartment also features a central bathroom with original fittings and a private north facing courtyard.
The property is available through Nicholas West and Charlie Barham of Nelson Alexander Real Estate.
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jchancellor-FAypfDUnLy

Art Deco apartment offering at 148 Pigdon Street, Carlton North

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The US-bound Melbourne corporate lawyer Guy Jalland has sold his restored art deco Darling Point harbour front which was listed with $12 million hopes.
He paid $8.2 million in 2013 and then updated the property which had last traded in the 1970s. He also added a jetty.
Title Tattle gleans it fetched around $11 million.
The two-storey house sits on a 1,114 square-metre Sutherland Crescent block, having been built in the 1930s. It retains terrazzo finishes, curved feature windows and solid-timber joinery. Its lounge, dining and family areas take advantage of the harbour views. There is also an interior courtyard.
The two-storey home contains four bedrooms and three classic art deco bathrooms, including a dedicated lower-level teenagers' retreat with a casual living area.
Its garaging once made the headlines given its distinctive Glenn Murcutt style. Murcutt also undertook some alterations to the house during the late 1980s.
Guy Jalland, with plans to spend more time in the United States, is best known as a longtime adviser to James Packer, including being general counsel of Publishing &amp; Broadcasting Limited from 2004 to 2007.
The house sold through Brad Pillinger at Pillinger Real Estate.
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