One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

First look: Inca eyes Mona Vale with State Significant DA for Dawn apartments

Chinese Buyers

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Chinese buyers have trumped local bidders for properties in Melbourne’s upscale suburb of Toorak, with more than $50 million of property sold there over the past weeks.
Theses deals include 2 Heymount Close (above) and 9 Hill Street, with the two mansions selling for a combined $31 million at private auctions, according to Fairfax Media.
Buyers’ advocate David Morrell, who bid on behalf of local buyers for these homes, told Fairfax Media that Chinese buyers were back in the market over the past weeks after disappearing for nearly 12 months.
Describing the scenes at the private auctions, Morrell said buyers were bidding against each other through Mandarin- or Cantonese-speaking agents.
Both properties sold well over the reserve — the Hill Street property was on the market at $14 million and sold for about $14.6 million.
The four-bedroom home at 2 Heymount Close — with scope for redevelopment — was on the market at about $16.15 million and sold for $16.72 million.
“We can’t make the numbers stack up,” he said. “It’s not that we can’t afford it, but we just don’t want to be overpaying.”
The marketing for the two properties was done by Michael Gibson at estate agents Kay &amp; Burton.
The purchases by Chinese buyers comes in despite China tightening the screws to contain capital outflows from the country.
The equivalent of $275 billion exited the country via yuan payments through the 12 months to October 2016, versus a $101.5 billion inflow in the same period of 2015, as the Chinese currency weakened to an eight-year low against the dollar, Bloomberg reported.
Last month, Federal Treasurer Scott Morrison had ordered the forced sale of 15 residential properties in Victoria and Queensland bought illegally by buyers from China, India, Indonesia, Iran, Malaysia, the UK and Germany.  Of the 15, six were owned by Chinese.
“Last year there was half the number of transactions as there were the year before — you’ll find this quarter there’s even less,” Morrell said.
“And you only need to drive around Toorak and see why — everyone’s renovating.”
A five-bedroom Victorian terrace on about 1050 square metres at 1 Cross Street is believed to have sold for about $8 million to a local buyer.
Kay and Burton declined to comment on any of the prices, but said three of the four properties were sold to local families.
"Local buyers have been out in force this year, greater than last year,” Gibson said. 
“Not everyone gets off an aeroplane and buys a property — that happens infrequently these days,” he added.
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Chinese buyers outbid locals at private Toorak auctions

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Asian outbound real estate investment was dominated by Chinese investors in 2016, accounting for almost half – 47 percent or US$28.2 billion - of the total capital transacted during the period, with Sydney among the top five for outbound investment, according to real estate firm CBRE.
CBRE Institutional &amp; International Investments NSW director Michael Andrews said while Australia remained highly sought after by mainland Chinese capital, demand from other Asia markets was also strengthening.
“Chinese investors remain active in deploying capital offshore into the Australian market, with the majority of this targeting residential development sites and/or income producing assets that are capable of being converted to residential,” Andrews said.
“Offshore capital flows continue to strengthen in the Australian market, with new and increasing mandates from existing investors and also emerging capital from markets such as Japan that we haven’t seen for some time.”
While office assets in the core Sydney and Melbourne CBD markets remain strongly sought after, there is also an emerging shift in sentiment towards emerging secondary markets in these locations.
“There is a very strong appetite from global capital for quality office investments. The change we are seeing however is in their growing acceptance of markets outside of the CBD core – such as North Sydney, Parramatta and Macquarie Park in New South Wales, and St Kilda Road in Melbourne,” said Andrews.
For the second consecutive year, CBRE figures reveal that the US remained the most favoured destination for Asian capital, drawing 43% of the overall total, followed by EMEA as the second-favoured at 27 percent.
Pacific attracted 7 percent - or $4.4 billion - of the overall investment turnover, with 53 percent of this injected into the Sydney market.
New York surpassed London as the top metropolitan destination for outbound investment in 2016, however, it contributed to a smaller share compared to 2015. 
The total top five destinations — New York, London, Hong Kong, Seoul and Sydney — contributed to 37 percent of the overall total, a decrease from 42 percent y-o-y, revealing that investment was spread across more diverse destinations. 
Andrews said Asian investors were seeking out assets in more diverse markets, with greater demand emerging for more niche opportunities.
“The shift towards counter cyclical investment is gaining some momentum, with Asian investors showing more willingness to invest in secondary locations in addition to alternative sectors outside of the traditional office assets – such as student housing and healthcare,” Andrews added.
CBRE Global Capital Markets executive director, Yvonne Siew, said outbound investment activity by Asian investors remained robust, with institutional investors continuing to lead investment activity, contributing to six of the top ten biggest outbound deals of the year.
“Despite recent policies by the government restricting Chinese outbound investment, there continues to be a steady flow of Chinese capital overseas as investors seek to diversify their portfolios,” Siew said. 
“With more scrutiny on cross-border capital flows and rigorous checks by the government which may lengthen the approval process, Chinese outbound real estate investment may moderate, gathering at a more sustainable rate.
Instead of larger transactions, Chinese investors may simply opt for a higher number of smaller deals. She said Chinese appetite for global real estate investment will remain solid but more cautious.
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Chinese capital dominated Asian foreign real estate investment in 2016: CBRE

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New figures showed foreign buyers account for 11 percent of all NSW property purchases.
Figures released under Freedom of Information laws from the NSW Office of State Revenue show that foreign nationals accounted for 11 percent of the 28,141 residential homes purchased in NSW from July to September last year.
Chinese purchased over 32 percent of the properties, followed by British and New Zealanders at 10 percent each and Indians at 6 percent. 
The figures came after the NSW government imposed a four percent surcharge on stamp duty for property purchases by foreigners along with a 0.75 percent land tax surcharge.
The NSW Opposition obtained the information and today called on the NSW government to raise property taxes for foreign buyers.
They suggest lifting the surcharge on stamp duty to 7 percent and lifting the annual land tax surcharge from the current level to1.5 percent which would bring NSW into line with the surcharges imposed by Victoria last year.
ALP leader Luke Foley said lifting property taxes on foreign investors would ease the pressure on first home buyers who the figures show now account for just 7.5 percent of total sales.
The Office of State Revenue figures show that foreigners now account for about 15 percent of the state duty paid in the period, much more than their share of purchases which suggests the stamp duty surcharge is raising considerable revenue.
The figures show buyers from Nepal and Malaysia (at 3 per cent) followed then purchasers from Korea, Vietnam, the US and Indonesia (2 per cent).
Over a three-month ­period last year, 2995 properties were sold to foreign buyers, raising $115 million in stamp duty. By comparison, $766 million in stamp duty was paid by Australian nationals in the same period, the Daily Telegraph reportedly exclusively.
Under the foreign duty surcharge at present, a buyer paying stamp duty on a property worth $2 million would have to pay $95,490 plus 4 per cent on the $2 million, which would be an extra $80,000.
 
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Chinese lead foreign buyers who snap up one in 10 NSW property sales

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Alibaba Australia are looking at listing apartments on its platform for Chinese consumers in Australia.
Following the launch of its first Australia office in Melbourne on Saturday, the $328 billion, US-listed company have discussed including realestate on their platform.
The e-commerce platform focuses on small businesses selling products popular with Chinese consumers, such as agricultural products and vitamins.
John O'Loghlen, Alibaba's Australia New Zealand business development director told the Australian Financial Review that it has been discussed internally.
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"This space is [currently] well serviced by the market and the Monika Tu's of the world and they do a good job," he told the AFR.
"Our focus is on small businesses but we've discussed it [selling real estate].
"It is possible, as it is an area that is changing so fast.
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<div>"Alipay is the dominant platform for these transactions, but it is important that the Australian and Chinese tax bureaucracies are transparent.</div>
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<div>"We are incredibly aware of the flows of money that it will attract."</div>
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<div>The plans would not be immediate.</div>
<div class="cq-article-content-paras section">
Alibaba has shown interest in recent months in the property section, making a $3.5 billion bid for Intime Retail Group, a Chinese department store chain.
It will allow Alibaba's online customers to pick up orders from stores quicker with access to the department store's inventory.
Executive chairman and founder Jack Ma told the Financial Review that there were no immediate plans to buy a shopping centre in Australia.
He did suggest however that he believes there should be an alignment of online and offline shopping businesses.
"For sure one thing is Chinese people like Australian products, but demand is still huge," he told the AFR at the launch in Melbourne on Saturday.
"When we build new retail, we want to combine online and offline together.
"I don't believe pure online businesses can last forever.
"So, while our businesses grew tremendously last quarter, we also saw the decline of traditional retail." 
There are only two Chinese platforms that would rival Alibaba's interests, ACProperty.com.au, sister site Sodichan.com and Juwai.com's new platform with Tencent.
Alibaba's immediate focus will be on getting small businesses onto the platform.
"Australia has the potential to do business with China," Ma said.
There are 500,000 Chinese [nationals] in Sydney and 300,000 in Melbourne.
"These people love Australia and Australian products and they also understand the Chinese market."
 
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Alibaba Australia discusses listing apartments to Chinese consumers

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The $14 million former Mosman residence of securities trader Neale Muston has been bought by the family behind one of China’s leading fashion brands, Goelia.
The Casey Brown Architects-designed residence sold late last year through McGrath agents Michael Coombs and John Melville.
The buyer’s agent Deborah West was amid the negotiations which fell short of the $14.5 million plus price guidance.
The purchaser has emerged as Daisy Dongying He, wife of Goelia president Gordon Qiming Hu.
The couple own on South Australia’s Kangaroo Island where they have development plans for a tourism retreat on their 100-hectare winery.
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Neale Muston sells Mosman home for $14 million to Chinese fashionista family

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In the final five months of 2016, mainland Chinese developers snapped up three-quarters of Melbourne development sites on the market through CBRE.
As they shrugged off concerns about apartment oversupply, tougher planning rules and higher property taxes, CBRE calculated that 75% of the 45 Melbourne development sites they transacted between August and December were sold to Chinese buyers.
Less than one in five sales were to Chinese groups in the first seven months of the year as Chinese government capital control measures and uncertainty about the federal election in Australia affected developer interest.
"We've sold more properties to Chinese buyers in the past five months than in any other five-month period since 2009," said CBRE national director Mark Wizel.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="97">
Property
</td>
<td valign="top" width="99">
Buyer
</td>
<td valign="top" width="71">
Price ($m)
</td>
<td valign="top" width="118">
Project
</td>
<td valign="top" width="52">
Permit
</td>
</tr>
<tr>
<td valign="top" width="97">
7-23 Spencer St (CBD)
</td>
<td valign="top" width="99">
Nuway Wy
</td>
<td valign="top" width="71">
97.0
</td>
<td valign="top" width="118">
Over 1000 apartments
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
Corner King and Little Lonsdale St (CBD)
</td>
<td valign="top" width="99">
Aurumstone
</td>
<td valign="top" width="71">
43.8
</td>
<td valign="top" width="118">
430 apartments
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
Norvel Estate, Ferntree Gully
</td>
<td valign="top" width="99">
Hong Se Int’l
</td>
<td valign="top" width="71">
37.0
</td>
<td valign="top" width="118">
Townhouse village
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
615 Warrigal Rd, Ashwood
</td>
<td valign="top" width="99">
Hong Se Int’l
</td>
<td valign="top" width="71">
36.0
</td>
<td valign="top" width="118">
Mixed-use apartments
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
85 Spring St (CBD)
</td>
<td valign="top" width="99">
Chinese developer
</td>
<td valign="top" width="71">
85.0
</td>
<td valign="top" width="118">
230 apartments
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
250 Sturt St, Southbank
</td>
<td valign="top" width="99">
Tiang Long
</td>
<td valign="top" width="71">
11.0
</td>
<td valign="top" width="118">
16 storey hotel
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
150-152 Bridge Rd, Richmond
</td>
<td valign="top" width="99">
Poly
</td>
<td valign="top" width="71">
16.0
</td>
<td valign="top" width="118">
Townhouses
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
Three Point Cook sites
</td>
<td valign="top" width="99">
Dahua
</td>
<td valign="top" width="71">
350.0
</td>
<td valign="top" width="118">
3000 houses
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
Sayers Rd, Tarneit
</td>
<td valign="top" width="99">
New Sky
</td>
<td valign="top" width="71">
60.0
</td>
<td valign="top" width="118">
800 houses
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
</tbody></table>
The Australian Financial Review calculated that there has been more than $730 million worth of Melbourne development site sales to Chinese developers since August.
These included acquisitions by Dahua and Poly, and new entrants like Nuway Wy, which paid $97 million for the former Melbourne convention centre site with a permit for 1000 apartments.
Wizel said the convention centre site would have sold for $400 million were it in Sydney.
"Chinese developers see a lot of value in Melbourne and they are willing to accept a lower return because they can save money in other ways, such as by selling apartments directly into China and avoiding paying local estate agent commission fees.," he said.
"They also have a better read on demand from China for housing than we have. They wouldn't buy these sites it if they didn't have the end buyers."
Jiaheng Chan, managing director of Malaysian-backed developer Beulah International, said Melbourne appealed for all the reasons it was named the most liveable city in the world for six consecutive years.
He added a major drawcard for Melbourne is the education system and the quality of schools and universities.
Wizel said he expected a rise in activity in 2017 from some of the big Chinese developers including Greenland, Fosun, Vanke, Wanda and R&amp;F, who were relatively inactive in 2016.
He noted that Chinese groups were also expanding their activities beyond development sites.
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Chinese developers surge into Melbourne again for apartment sites

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As the Chinese usher in the Year of the Rooster, it may be timely to look afresh at property investing in Australia in light of some new rules around foreign investments, especially because Australia remains a favourite with Chinese investors. 
The rooster is said to be the most motivated animal in the Chinese zodiac. Historically and symbolically, the rooster’s crowing acted as a wake up call to start work.
The Chinese New Year starting on January 28 could well be another year of flourishing property investing in Australia for the cashed up Chinese investor. 
To download our handy guide, Buying property in Australia in 2017, the Chinese Year of the Rooster, <a href="https://www.propertyobserver.com.au/images/2017/01/Year_of_the_Rooster/2017_Rooster.pdf" target="_blank">click here.</a>
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Buying property in Australia in 2017, the Chinese Year of the Rooster

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One Melbourne property developer is offering a generous 25-year rental guarantee in a bid to lure Chinese buyers back to the market.
It was offered to clients of China's biggest online real estate agency, Fang.com, The Australian Financial Review has reported.
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<div>Other developers like Volaire apartments, at <a href="https://www.realestate.com.au/property-apartment-vic-west+melbourne-123861814" target="_blank">9 Dryburgh Street, West Melbourne</a>, have discounted prices. </div>
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<div>The discounts in Volaire are via cash rebates equivalent to around 7 per cent of the apartment's value.</div>
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Chinese buyers being enticed to Melbourne with price discounts and 25 year rental guarantee

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The sale of Australian agricultural land, including cattle stations, hobby and commercial farms hit $16.79 billion in the year to August.
The Federal Treasurer Scott Morrison has now approved another big sale - the Kidman cattle empire for around $380 million to the syndicate of mining magnate Gina Rinehart and a Chinese company.
The sales process too around 20 months.
"I have decided that the acquisition of Kidman as proposed would not be contrary to the national interest and will be permitted to proceed," his statement advised.
It is the third attempt by Chinese interests to buy into Australia's largest private landholder with Mrs Rinehart's Hancock Prospecting to own 67 per cent of S Kidman and Co with partner Shanghai CRED .
Their joint-venture company Australian Outback Beef (AOB) acquistion will not include the defence-sensitive Anna Creek Station or The Peake which will be sold to a local South Australian grazier family.
The 117-year-old family company, founded by Sir Sidney Kidman, has pastoral leases covering 101,000 square kilometres across Western Australia, the Northern Territory, Queensland and South Australia.
In a video released by Hancock Prospecting, Mrs Rinehart said it was an "exciting day" as she had long wanted to diversify.
"Right now all our eggs are in the iron ore basket," <a href="https://www.youtube.com/watch?v=IfXPaWdDLOk" target="_blank">she said</a>.
"Now to become the third largest producer of cattle in Australia I think it's just great.
"I see an ongoing need for meat particularly in the Asina region and most of our cattle from Australia, three quarters, we export.
"And of course the value of the land over decades is going to keep increasing and increasing."
Hancock Prospecting CEO Gary Korte said the herd size will be increased from the current 150,000 head to its full carrying capacity of 185,000.
Agricultural property sales in NSW totalled $8.2 billion over the period, an increase of 3.8 per cent according to the Landmark Harcourts' quarterly Benchmark Report with some 12,519 agricultural property sales.
One of the biggest deals included the Deltroit Station in the Gundagai district of NSW when MH Premium Farms, the Australian agricultural operation of global fund manager Sir Michael Hintze, bought the 2573 hectare holding.
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In Victoria the total value of agricultural property sales came in at $3.7 billion over the year, down 13.3 per cent on the total value of sales achieved in the 12 months to August last year.
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<div>In Queensland, agricultural property sales totalled $1.7 billion over the year with lower volumes, though the value of sales was 3 per cent higher than the prior year.</div>
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Queensland has has spring sales including cattleman Peter Hughes buying Tumbar station south of Jericho in central Queensland for about $57 million. In SA, the total value of agricultural sales was $964 million over the 12 months to August 2016, 14.5 per cent higher than the 12 months to August. 
In WA, the total value of the agricultural sales was $1.7 billion, 2.9 per cent  above the previous year.
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In Tasmania, agricultural property sales totalled $526 million over the year, 9.5 per cent lower than the previous year.
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Gina Rinehart secures Kidman cattle empire for $380 million

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The Australian columnist Robert Gottliebsen says the Australian apartment market is close to a meltdown.
He suggested Australia faces the potential of Chinese walking away from apartment settlements at the rate of between $1 billion and $1.5 billion a month for a year or two.
"In the worst case scenario a large number of apartment developers go to the wall taking with them many unsecured suppliers," he wrote.
He advised that Sydney’s Harry Triguboff went into the crisis without debt and can cushion the impact on the city.
"Melbourne and to a lesser extent the already depressed Brisbane will feel the full force of any disaster," the veteran columnist advised.
He added that much was being done to reduce or avoid the above scenario taking place.
He said that the Australian apartment developments are in three baskets:
First, those being developed by large well-capitalised enterprises like Meriton or the listed apartment developer.
Second, those being developed by developers with big Chinese backing and funded by Chinese banks. They are highly leveraged;
Third, developers funded by Australian banks.
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