<p>Not all apartment amenities are immediately visible.</p>

<p>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.</p>

<p>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.</p>

<p>Online shopping has been one of the biggest drivers of that shift.</p>

<p>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.</p>

<p>For apartment residents, however, receiving those deliveries isn't always straightforward.</p>

<p>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.</p>

<p>Australia Post's Parcel Locker network is one response to that shift.</p>

<p><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></p>

<p>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.</p>

<p>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.</p>

<p>That growing presence reflects a broader change in how apartment buildings are being planned.</p>

<p>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.</p>

<p>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.</p>

<p>For buyers comparing apartments, these everyday details are becoming part of the decision-making process.</p>

<p>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.</p>


Joel Robinson

Parcel delivery is joining the apartment amenity checklist

<p data-end="471" data-start="164">Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.</p>

<p data-end="777" data-start="473">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.</p>

<p data-end="976" data-start="779">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.</p>

<p data-end="1119" data-start="978"><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.</p>

<p data-end="1399" data-start="1121">"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.</p>

<p data-end="1399" data-start="1121">"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."</p>

<p data-end="1605" data-start="1401">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.</p>

<p data-end="1852" data-start="1607">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.</p>

<p data-end="1852" data-start="1607"><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" /></p>

<p data-end="2031" data-start="1854">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.</p>

<p data-end="2299" data-start="2033">"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.</p>

<p data-end="2588" data-start="2301">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.</p>

<p data-end="4143" data-start="3991">Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.</p>

<p data-end="593" data-start="417">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.</p>

<p data-end="789" data-start="598">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.</p>

<p data-end="1053" data-start="794">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.</p>

<p data-end="4143" data-start="3991"><em>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></em></p>

<p data-end="4143" data-start="3991"><em>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></em></p>


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

<p>Seasoned Victorian apartment developer <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a> has logged more than $400 million in sales in its luxury apartment project Palmera Residences at Northcliffe on the Gold Coast.&nbsp;</p>

<p>Central Equity Director Karl Kutner said the sales result reflected a combination of location, product quality and delivery certainty with the project already under construction by building powerhouse Multiplex.&nbsp;</p>

<p>"Surpassing $400 million in sales since launch is a significant milestone and an outstanding endorsement of <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera Residences</a>,” he said.&nbsp;</p>

<p>"We believe one of the key reasons for this strong result is the confidence purchasers have in knowing the project is under construction with Multiplex. Buyers are increasingly looking for certainty. They want to know that the project they commit to today will be delivered by an experienced team with a proven track record."&nbsp;</p>

<p>[smartcode_project:default project_id=108274 project_image_fid=365782]</p>

<p>Kutner said it was clear there was still high demand for luxury projects that offered certainty of delivery.&nbsp;</p>

<p>“We are in a market where many residential developments have faced delays due to rising construction costs, labour shortages and financing challenges,” said Kutner.&nbsp;</p>

<p>"But having construction underway has provided our buyers with resounding confidence backed by more than 40 years of development delivery by Central Equity combined with construction by one of Australia's most respected construction companies."&nbsp;</p>

<p>[smartcode_project:default project_id=108274 project_image_fid=365785]</p>

<p>Central Equity is one of Australia's most experienced privately-owned property developers. Over more than four decades, the company has delivered in excess of 85 residential developments including 10,000 apartments and many thousands of stand alone homes.&nbsp;</p>

<p>Located on Garfield Terrace at Northcliffe, between Surfers Paradise and Broadbeach, Palmera Residences occupies one of the Gold Coast's most sought after beachside locations. The development has been designed to appeal to owner occupiers seeking premium residences that combine generous living spaces and resort style amenities.&nbsp;</p>

<p>Palmera Residences will feature an exceptional collection of resort style amenities, including two swimming pools: a generously sized family pool with safe shallow zones for relaxed recreation, and a 20 metre lap pool positioned to maximise all day sunlight.&nbsp;</p>

<p>Residents will also enjoy exclusive access to wellness and recreational facilities including a magnesium pool, sauna, yoga studio, expansive fitted gymnasium, resident lounge, outdoor BBQ’s&nbsp;and indoor and outdoor dining areas, together with a dedicated concierge and luxurious hotel inspired entrance foyer.&nbsp;</p>

<p>[smartcode_project:default project_id=108274 project_image_fid=365767]</p>

<p>A unique feature at Palmera Residences has been designed to enhance the Gold Coast lifestyle which includes both indoor and outdoor gymnasium facilities, together with thoughtfully designed indoor and outdoor dining and entertaining areas. A corner café has also been incorporated to provide residents with a destination for their everyday needs.&nbsp;</p>

<p>Kutner said buyer demand had been broad based with purchasers attracted from interstate as well as throughout South East Queensland.&nbsp;</p>

<p>"We're seeing strong interest from owner occupiers, lifestyle buyers and people relocating to the Gold Coast. Many purchasers have been searching for a premium beachside residence where quality, design and delivery are equally important."&nbsp;</p>

<p>[smartcode_project:default project_id=108274 project_image_fid=365771]</p>

<p>Kutner said the sales milestone was an important achievement, but the focus remained firmly on delivering an exceptional development.&nbsp;</p>

<p>"While reaching $400 million in sales is an important milestone, our priority remains delivering a project that exceeds purchaser expectations,” he said.&nbsp;</p>

<p>"Palmera Residences has been designed to become one of the Gold Coast's landmark residential addresses, and we look forward to welcoming our purchasers to their new homes."&nbsp;</p>

<p>There are a limited number of residences remaining in selected configurations with pricing from $2,950,000 to $8,950,000. Palmera Residences is also crowned by expansive penthouses with wrap around views.</p>

<p>[smartcode_project_cta:default project_id=108274]</p>


Construction certainty and strong buyer demand drive major sales result for luxury Gold Coast development

Palmera Residences fly out the door as sales pass $400 million

<p>National property developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has appointed BINAH as its construction partner for Quartet, its new Brisbane apartment development in the undersupplied suburb of <a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>.</p>

<p>Located just two kilometres from the Brisbane CBD and moments from key 2032 Olympic precincts, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet</a> will deliver 131 one, two, three, and four-bedroom apartments priced from $1 million to $4.2 million, combining elevated design with a wellness-focused lifestyle offering.&nbsp;</p>

<p>[smartcode_project:default project_id=108736 project_image_fid=368000]</p>

<p>Goldfields’ Chief Executive Officer, Lachlan Thompson, said the appointment of <a href="https://www.apartments.com.au/builders/binah-constructions">BINAH</a> marked an important milestone for the project.&nbsp;</p>

<p>“Bringing BINAH on board as our construction partner will allow us to bring our vision for Quartet forward with a team that has a proven track record of delivering high-quality residential projects,” Thompson said.&nbsp;</p>

<p>“We’ve taken a considered approach to progressing the site because we wanted to deliver the whole package. Buyers ultimately back great developers, great projects and great builders, and with Quartet, we’ve made sure all three line up.</p>

<p>“People want certainty, they want to know the project will be built, that the homes will be delivered as promised, and that the developer stands behind the quality of what they create. That’s something Goldfields has built its reputation on over many years.”&nbsp;</p>

<p>[smartcode_project:default project_id=108736 project_image_fid=367993]</p>

<p>BINAH’s Managing Director, Khalil Hafza, said the company was proud to be partnering with Goldfields to deliver Quartet.&nbsp;</p>

<p>“Quartet is an exciting project to bring to life, particularly given the level of detail in the residences and the extensive rooftop amenity planned for the building,” Mr Hafza said.&nbsp;</p>

<p>“Our focus is on delivering a high-quality build that brings that design vision to life and creates homes residents will enjoy for many years.”&nbsp;</p>

<p>[smartcode_project:default project_id=108736 project_image_fid=367999]</p>

<p>The facilities at Quartet have been feared towards the roof, with a&nbsp;25 metre lap pool, spa, sauna and cold plunge, and a communal barbecue area and alfresco.</p>

<p>Town planning was designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by Melbourne-based architecture firm Cera Stribley.</p>

<p><a href="https://www.apartments.com.au/interior-designers/cera-stribley">Cera Stribley</a> Co-Founder and Managing Principal, Dom Cerantonio, said the project responds to both its riverside setting and Brisbane’s evolving urban character.&nbsp;</p>

<p>“Quartet has been designed to sit comfortably within its riverside context, offering a refined take on urban living through well-planned, generously proportioned residences that will stand the test of time,” Mr Cerantonio said.&nbsp;</p>

<p>“An emphasis on natural light, natural textures and carefully selected finishes from timber and marble to premium appliances, creates calm, considered interiors designed for comfort and long-term liveability.”&nbsp;</p>

<p>Construction of Quartet will commence in July 2026, with completion anticipated in Q4 2028.</p>

<p>[smartcode_project_cta:default project_id=108736]</p>


Construction to commence on 131-residence tower designed around wellness-focused living

Goldfields appoints BINAH for Quartet apartments in Milton

<p>The first partnership between national developer <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> and Adelaide-based developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> has made a strong start, with the pair securing $21 million in unconditional sales at <a href="https://www.apartments.com.au/new-apartments/one-four-four-hutt-adelaide-144-hutt-street-adelaide-sa-5000">One Four Four Hutt</a>&nbsp;on the edge of the Adelaide CBD.</p>

<p>Over a third of apartments have been snapped up in the boutique 44-apartment project on the corner of Hutt Stret and Wakefield Road. Local downsizers and owner-occupiers wanting to remain in Adelaide's tightly-held southeast quarter have been the most prominent purchasers.</p>

<p>The DKO-designed, mixed-use development is one of the few new apartment projects in the precinct, an area where new housing supply has remained limited despite continued demand from buyers wanting to stay close to the CBD, Victoria Park and Adelaide's established east-end amenities.</p>

<p>[smartcode_project:default project_id=151233 project_image_fid=375378]</p>

<p>Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.</p>

<p>"The level of early commitment reflects the confidence local buyers have in the Hutt Street precinct," Dendrinos said.</p>

<p>"Many purchasers are long-term east-end residents who love the area and want to stay connected to the neighbourhood. They recognise the value of a well-designed, well-located development.</p>

<p>"Our partnership with Otello has been central to this success, and the number of unconditional sales at this stage only strengthens our confidence in the South Australian market."</p>

<p>[smartcode_project:default project_id=151233 project_image_fid=375379]</p>

<p>Otello Director Daniel Harris said the sales result also highlighted the lack of new apartment opportunities within the Hutt Street precinct.</p>

<p>"One Four Four Hutt has clearly resonated with buyers, with strong early sales reflecting both the appeal of the Hutt Street corridor and the lifestyle on offer," Harris said.</p>

<p>"The activated ground-floor retail has also been a key drawcard, with purchasers responding to the vision of a more vibrant and connected streetscape, not just the residences themselves."</p>

<p>One Four Four Hutt will deliver 44 one, two and three-bedroom apartments, alongside a collection of penthouses, above a ground-floor retail offering designed to further activate the Hutt Street precinct.</p>

<p>Construction is scheduled to commence in the third quarter of this year, with completion anticipated in 2028.</p>

<p>[smartcode_project_cta:default project_id=151233]</p>


Fortis Head of Development SA Arthur Dendrinos said the early sales reflected both the strength of the local owner-occupier market and confidence in the Hutt Street location.

Fortis makes Adelaide debut with Otello as One Four Four Hutt records strong early sales

Firb

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<div><span>EXPERT OBSERVATION</span></div>
<div><span> </span></div>
<div><span>The Foreign Investment Review Board (FIRB) released its Annual Report for the 2017 financial year, and as expected it showed that investment in new apartments from mainland Chinese investors has been annihilated by a combination of fee charges and tighter capital controls.</span></div>
<div><span> </span></div>
<div>
<span>There's much more to the Annual Report than just the residential real estate investment aspect, of course, but this is a blog not an Encyclopaedia Britannica so let's crack straight into it.</span><span><br></span>
</div>
<div><span> </span></div>
<div><span>Although the impact on total foreign investment was played down in the report, the reality is that the number of residential approvals have been smoked, down by 67 per cent from the prior year. </span></div>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-UMTpeaTHMM4/WwyhL22FvEI/AAAAAAAAqP0/8gaf_QtZb183rLkVwdH45jQUDJNGnkdRQCLcBGAs/s1600/FIRB1.jpg"><img src="https://2.bp.blogspot.com/-UMTpeaTHMM4/WwyhL22FvEI/AAAAAAAAqP0/8gaf_QtZb183rLkVwdH45jQUDJNGnkdRQCLcBGAs/s640/FIRB1.jpg" width="640" height="372" data-original-height="780" data-original-width="1337"></a></div>
<div>Similarly the value of residential approvals crashed 65 per cent lower from $72.4 billion to $25.2 billion. </div>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-eeKkUWK9UlM/WwyhMNmDdLI/AAAAAAAAqP4/8tL55X2DYeMHxJaDttmNpm2Z3WPJ1uxcQCLcBGAs/s1600/FIRB2.jpg"><img src="https://2.bp.blogspot.com/-eeKkUWK9UlM/WwyhMNmDdLI/AAAAAAAAqP4/8tL55X2DYeMHxJaDttmNpm2Z3WPJ1uxcQCLcBGAs/s640/FIRB2.jpg" width="640" height="372" data-original-height="801" data-original-width="1376"></a></div>
<p> </p>
<div>The bulk of new approvals through this unprecedented cycle have been for new dwelling exemption certificates, mainly for Chinese investors.</div>
<div> </div>
<div>Looking at these numbers it's not hard to understand how Sydney now has more apartments approved but not yet commenced than at any time in its history, as <a href="http://petewargent.blogspot.com.au/2018/04/bust-looms-for-sydneys-apartment" target="_blank">detailed here previously</a>.</div>
<div> </div>
<div>The offshore buyers have dried up, demand from domestic investors has been stymied, and the demand from owner-occupiers is insufficient to get new development project finance across the line. </div>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-NB_Pr0ox8ag/WwyhMFmGT_I/AAAAAAAAqP8/QW3ddVDDvDsLNYRsM8ydj3RaFs_WdVtqQCLcBGAs/s1600/FIRB3.jpg"><img src="https://2.bp.blogspot.com/-NB_Pr0ox8ag/WwyhMFmGT_I/AAAAAAAAqP8/QW3ddVDDvDsLNYRsM8ydj3RaFs_WdVtqQCLcBGAs/s640/FIRB3.jpg" width="640" height="376" data-original-height="798" data-original-width="1354"></a></div>
<p> </p>
<div>Statistically it appears to be a certainty that Sydney will experience the greatest number of failed apartment projects as these trends flow through. </div>
<p> </p>
<div class="separator"><a href="https://4.bp.blogspot.com/-oB--8HHlBVI/WwyhNNBYK4I/AAAAAAAAqQA/jcgvA_iBayUyUp_smd7mvblQxlk_NFajQCLcBGAs/s1600/FIRB4.jpg"><img src="https://4.bp.blogspot.com/-oB--8HHlBVI/WwyhNNBYK4I/AAAAAAAAqQA/jcgvA_iBayUyUp_smd7mvblQxlk_NFajQCLcBGAs/s640/FIRB4.jpg" width="640" height="378" data-original-height="801" data-original-width="1355"></a></div>
<p> </p>
<div>I expect to see plenty of apartment projects stalling, and increasing signs of discounting on new Sydney apartments.<br><br>Perhaps this was an inevitable end-game for this cycle, where development has been too much skewed towards apartments for investors, and too little towards the types of medium-density dwellings that people want to reside in.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>As noted, there is much more to foreign investment than just new apartment purchases, with total investment of $168 billion only 4 per cent below the level seen in the prior year. </div>
<div> </div>
<div>And indeed, investment in manufacturing, agriculture, ports, other commercial real estate, and resources has catapulted China to become by far and away the greatest investor in Australia at $38.9 billion in FY2017, miles ahead of the United States in second place at $26.5 billion.</div>
<div> </div>
<div>Nevertheless, these figures will have some significant impacts on the new apartment sector, construction trends, and the broader economy - and especially so in Sydney.</div>
<div> </div>
<div>
<span>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and </span><a href="https://petewargent.blogspot.com/" target="_blank">blogger</a><span>.</span>
</div>
</body></html>

pwargent-M4siyDbqQY

Local demand insufficient to get projects across the line as offshore apartment buyers dry up: Pete Wargent

<html><body>
<div>The Real Estate Institute of Australia (REIA) has fronted a Senate Economics Committee to give evidence on the Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2020. </div>
<div> </div>
<div>REIA President Adrian Kelly has said that fees should be structured to reflect the cost of undertaking the assessment and administration by the Australian Government, instead of imposing unnecessary impediments on foreign investors in the residential property market.</div>
<div> </div>
<div>“Foreign investment in the residential property market is the lowest it has been since 2015 – 2016,” he told the committee.</div>
<div> </div>
<div>“We understand from our agents working in this area the cumulative impact of Commonwealth and State government fees has contributed to decreased demand from foreign investors.</div>
<div> </div>
<div>“It has been our proposal to Treasury, and now this Committee, that fees should be equitable and simply reflect the cost of assessment and processing by FIRB.”</div>
<div> </div>
<div>The Property Council of Australia has also condemned the new proposed fee amounts, that are not set out in the legislation but by way of FIRB fee regulations.</div>
<div>
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p><span>It noted the cost of applying for FIRB approval for the average developed commercial property transaction under this draft fee regime is set to increase from $26,700 to $66,000 </span><span>– </span><span>an increase of almost 2.5 times. For investments valued at just below $1b, the proposed fee increase would be more than </span><span>nine times </span><span>the current level.</span></p>
<p><span>"These very large cost increases for investment in commercial real estate </span><span>– </span><span>a very vanilla investment class from a security perspective </span><span>– </span><span>is not justifiable by any policy basis," the PCA advised.</span></p>
<p><span>"These proposed increases go far beyond administrative cost recovery and would put Australia at a material investment disadvantage to other countries," it noted.</span></p>
</div>
</div>
</div>
</div>
<div>The Treasury claimed updates to the fee framework will ensure that the cost of administering the foreign investment review framework is borne by foreign investors, as well as making the fee framework simpler and fairer.</div>
<div> </div>
<div>"While some investors will pay more, they will be the investors proposing to undertake the highest value investments," Treasury advised.</div>
<div> </div>
<div>"The reforms ensure that more of the costs of administering the framework are borne by larger investors and investors that currently pay a disproportionately smaller fee for their investment.</div>
<div> </div>
<div>"In general, fees represent a small proportion of the costs associated with an investment, and this will continue to be the case.</div>
<div> </div>
<div>"The maximum fee for a commercial transaction over $50 million will not be higher than 0.03 per cent of the consideration. For agricultural land over $2 million, it will not be higher than 0.66 per cent."</div>
<div> </div>
<div>Mr Kelly said while CV-19 had attracted a welcome and wide-spread commitment from all levels of Australian governments to deregulate and be more business and investment-friendly, the REIA was concerned the fee-setting framework within the Bill did not meet these best practice policy aspirations.</div>
<div> </div>
<div>“This is not just across the board but for each category of fees,” he said.</div>
<div> </div>
<div>“That is, residential property applications should not be offsetting or subsidising the cost of administration other categories.</div>
<div> </div>
<div>“The proposed fee structure within the ‘Fees’ Bill this Committee is tasked to inquire on ignores all of the above.</div>
<div> </div>
<div>“In short, unnecessary impediments should be removed for foreign investors looking to invest in Australia’s residential property market.”</div>
<div> </div>
<div>“We respect all national security considerations but fees should ultimately reflect the cost of undertaking the assessment and administration.”</div>
<div> </div>
<div> </div>
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jchancellor-FAypfDUnLy

REIA seeks FIRB fee overall given decease in demand

<html><body>
<div>
<p>Three NSW farms put on the market by the Kahlbetzer family have been sold for more than $115 million in total.</p>
<p>The Lachlan River frontage properties were the first to be offered to the market subject to Australia's new foreign investment selling rules to ensure opportunity for local investors and farmers.</p>
<p>But all three were sold to buyers from offshore - to buyers from the United States and the Netherlands.</p>
<p data-gtm-vis-first-on-screen-7770372_137="4444" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">The properties, Jemalong Station and Jemalong Citrus at Forbes and Merrowie at Hillston, were held by the Kahlbetzers' Twynam Agricultural Group.</p>
<p data-gtm-vis-first-on-screen-7770372_137="4444" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">The selling agents had more than 50 inquiries with more than 20 parties making inspections</p>
</div>
<div>"In all cases, the accepted offer was the highest offer received for the land and water components of the respective properties," Twynam said in a company statement.</div>
<div>
<p>The properties were brokered by Gary Johnston of Johnston Rural Group Forbes and Bruce Gunning of Ray White Rural International Sydney.</p>
<p data-gtm-vis-first-on-screen-7770372_137="19422" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">Optifarm, a Netherland-based group, bought the two Jemalong properties.</p>
<p data-gtm-vis-first-on-screen-7770372_137="19422" data-gtm-vis-total-visible-time-7770372_137="4000" data-gtm-vis-has-fired-7770372_137="1">The US-based group, MERS Global Investments LLC, bought Merrowie though its vehicle MRA Merrowie.</p>
<p>​Optifarm has already been active in the Australian market, buying Uri Park, a mixed farm near Darlington Point in the NSW Riverina last August.</p>
<p>The properties, which include Jemalong Station, Jemalong Citrus at Forbes and Merrowie at Hillston, cover 46,000 hectares.</p>
<p>The Kahlbetzer family, whose wealth is estimated by the ailing Financial Review Rich List at $840 million, has sold around 40 properties over the past decade.</p>
</div>
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Kahlbetzers' sell three NSW farms to overseas buyers

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<div>
<p>The Kahlbetzer's Twynam Agricultural Group has publicly listed three of its Lachlan River frontage properties for sale by expression of interest campaign closing March 12.</p>
<p>The properties, which include <a href="https://www.raywhite.com/nsw/jemalong/1825448/" target="_blank">Jemalong Station, Jemalong Citrus at Forbes and Merrowie at Hillston</a>, cover 46,000 hectares.</p>
<p>They were being quietly offered for sale, but under new FIRB rules from February 1 they have to be publicly advertised for at least 30 days in order to be sold to foreigners.</p>
<p>The Kahlbetzer family's wealth has been estimated by the Financial Review at $841 million. The farm offerings could total $100 million plus.</p>
<p>Below, the cotton at Merrowie.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/7/cotton.jpg" alt=""></p>
<p>Johnny Kahlbetzer confirmed the bush chatter adding that there were plenty of buyers. </p>
<p>It pioneered cotton properties in the Riverina starting with the purchase of Merrowie in 1991.</p>
</div>
<div>
<p>Twynam has appointed Gary Johnston of Johnston Rural Group Forbes and Bruce Gunning of Ray White Rural International Sydney.</p>
<div>Jemalong Station, located 35km west of Forbes, comprises 13,387ha with 2,384ha of irrigation development an 8,885 ML JIL Water (Jemalong Irrigation Licence), 3,107 ML Groundwater.</div>
<div> </div>
<div>Adjoining Jemalong Station is Jemalong Citrus on 360.84ha. It has access to 1000 ML Groundwater and 750 ML JIL Water. The property comprises about 170,000 orange trees, mostly winter juicing varieties.</div>
<div> </div>
<div>The other property being offered for sale is Merrowie which is situated 15km west of town of Hillston. It is approx. 32,730ha with 9,906ha of developed irrigation and has available approx. 6,689 ML of General Security Lachlan River Water Entitlements as well as 10,528 ML of Groundwater Licence and approx. 16,000 ML above ground water storage.</div>
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j.ballantyne1990-6AQqhLzZaK

Kahlbetzer's Twynam selling three farms - but not off market

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<div>
<p>The federal government has imposed tighter foreign investment restrictions on the off-market sale of agricultural land worth $15 million or more.</p>
<p>Treasurer Scott Morrison announced any rural vendor wishing to sell to a foreign investor will need to publicly market the offering to locals for 30 days.</p>
<p>It was designed to stop land being put up for foreign sale without Australians knowing about it.</p>
<p>The responsibility will be on the applicant to demonstrate how they became aware that the property was advertised for sale and whether the acquisition was subject to an open and transparent sale process.</p>
<p><a href="https://twitter.com/ScottMorrisonMP?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank">Scott Morrison issued a tweet</a> saying it was about 'putting Australians first."</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/2/5/morrison.jpg" alt=""></p>
<p>Foreign buyers will need to demonstrate that land "has been part of a public sales process and marketed widely to potential Australian bidders for a minimum of 30 days, and Australian bidders have had an opportunity to participate in the sale process".</p>
</div>
<div>"All acquisitions of agricultural land by foreign investors for residential development will also be subject to standard development conditions requiring development to commence within a five year period to prevent land banking. This condition already applies to acquisitions of vacant land," Mr Morrison said.</div>
<div> </div>
<div>He said the new restrictions on agricultural land were motivated by the national interest.</div>
<div class="cq-article-content-paras section">
<p>Previously, the Coalition government has reduced from $252 million to $15 million the threshold at which the Foreign Investment Review Board becomes involved in purchasing land. Similarly, it has lowered the scrutiny thresholds for agribusiness.</p>
<p>"Concerns around the ability of Australians to participate in the sale process of agricultural land acquisitions have been a factor in my previous foreign investment decisions, including approval of the sale of S. Kidman &amp; Co Limited," Scott Morrison advised.</p>
<p>The FIRB gave three examples:</p>
<div>
<p>Example 1</p>
<p>Michele is a foreign person and wishes to acquire Joe’s farm. She first saw Joe’s farm advertised in a local newspaper and spoke to the realtor who has had the property listed for the last two months.</p>
<p>Michele confirms with the realtor that the property has been advertised through multiple channels for a period of at least 30 days, including online, through rural real estate brokers, and via advertisements in local and national media. If Michele applies to the Foreign Investment Review Board to acquire Joe’s farm, the sale process is unlikely to raise national interest issues.</p>
</div>
<div>
<p>Example 2</p>
<p>Susan has been directly approached by a foreign investor seeking to buy her farm. Susan’s farm is not on the market for sale, however, it was advertised for sale five months ago but was taken off the market as it was not sold (either no offers were received or the offers received were not accepted).</p>
<p>The foreign investor, Green Forestry Co, approached Susan because they have significant holdings of land near Susan’s farm for their forestry business and now have the capital available to expand their business.</p>
<p>Green Forestry Co applies to the Foreign Investment Review Board to acquire the property. This acquisition would satisfy the requirement for an open sale process as the property was advertised in the last 6 months.</p>
</div>
<div>
<p>Example 3</p>
<p>Therese wishes to buy a large parcel of agricultural land that is currently used for crop farming and includes an incidental established residential dwelling.</p>
<p>Therese saw the property advertised in an Australian national newspaper and viewed further information about the property on a real estate agent’s website.</p>
<p>Numerous parties, both foreign and Australian, were given the opportunity to bid or make offers for the property.</p>
<p>If Therese lodges a Foreign Investment Review Board application for the acquisition, it is unlikely that national interest issues will be raised regarding the opportunity for Australians to purchase the land.</p>
</div>
<p> </p>
</div>
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Offmarket rural FIRB sales banned by Treasurer Scott Morrison

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<p>Chinese investors dominated the list of foreign investment approvals for the financial year 2015-2016, with much of it in residential real estate, data from the Foreign Investment Review Board annual report shows.</p>
<p>Of the total $47.3 billion pledged by Chinese investors in Australia, real estate accounted for more than $31.9 billion, FIRB data showed.</p>
<p>The total investment figure is similar to the previous year’s $46.6 billion in approvals.</p>
<p>The value of approved investment rose to around $248 billion, an increase of over $55 billion on 2014-15, driven predominantly by increased investment in the real estate sector, the FIRB noted.</p>
<p>Chinese investment commitments were far higher than the second-placed US at nearly $31 billion, of which $8.2 billion was into real estate. The FIRB data comes at a time when the government has announced measures to crack down on overseas property investors to cool the hot property market, mainly in the east coast.</p>
<p>Investment in development assets, such as new dwellings, vacant land and redevelopment of existing residential property that increases the housing stock was 85.4 per cent of all residential approvals, the FIRB said.</p>
<p>Most of these were in NSW and Victoria, or more specifically Sydney and Melbourne. </p>
<p>Residential real estate also accounted for the maximum number of foreign approvals by sector. In 2015-16, there were 40,149 approvals compared with 36,841 in 2014-15, FIRB data showed. Residential attracted commitments of $72.4 billion in the last financial year.</p>
<p>Approvals to buy established dwellings have fallen 36 per cent from 2014-15, after the Treasury cracked down on illegally owned properties by foreigners and forced many to sell.</p>
<p>These statistics, as well as an analysis from Treasury last year, show that foreign investment approvals and investments in residential property do not push up the price of housing.</p>
<p>"While Melbourne received more foreign investment approvals than Sydney, price growth in Sydney was much stronger than in Melbourne," the FIRB report says.</p>
<p>"Every Chinese dollar invested landed in the pocket of an Australian somewhere. Chinese investment translates directly into jobs, tax revenue, economic growth and new housing construction. There's nothing about it that any reasonable person can object to. Frankly, China has been a godsend for Australia these past 10 years," Chinese property group Juwai.com’s chief executive Charles Pittar was cited as saying by the Australian Financial Review.</p>
<p>High value commercial property approvals increased by more than $10 billion.</p>
<p>For the third year in a row, China was the largest source of approved investments and while the US was second, it was the largest investor in non-real estate sectors.</p>
<p>There were foreign interests in 13.6 per cent of agricultural land by area as at June 30 last year. The two biggest investors in agricultural assets are the UK and the US.</p>
<p>Among agricultural assets, Federal Treasurer Scott Morrison approved the sale of the Kidman cattle empire for around $380 million to the syndicate of mining magnate Gina Rinehart and a Chinese company after refusing earlier attempts by a majority Chinese consortium.</p>
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jonathanchancellor-7SQnKwU6yx

Chinese continue to dominate foreign investment in real estate: FIRB data

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<p>Treasurer Scott Morrison has forced the sale of 15 more illegally bought residential properties held by foreigners, taking the total number of forced sales to 61.</p>
<p>The 15 latest properties are in Victoria and Queensland, with a combined purchase price of more than $14 million and are held by investors from China, India, Indonesia, Iran, Malaysia, the United Kingdom and Germany.</p>
<p>Of the 15, six were owned by Chinese while three were from the UK. The highest divestment was a $5.9 million property in Melbourne’s Rockbank, owned by an Indian national.</p>
<p>In all, the combined value of the 61 properties is $107 million, according to a press release on the Treasury department’s website.</p>
<p>The foreign nationals in the latest group of forced disposals purchased their properties without Foreign Investment Review Board (FIRB) approval and in some cases held multiple established properties in breach of the rules. The ATO identified these breaches through data matching programs as well as using information provided by the public.</p>
<p><img src="https://www.urban.com.au/images/2017/02/13/IlegalProperties.png" alt=""></p>
<p>Another 36 foreigners have sold properties during the course of ATO investigations, underscoring improved compliance with the rules, it said.</p>
<p>So far, the taxation office has found more than 570 foreigners who have breached property rules. </p>
<p>Foreigners are not allowed to buy established dwellings and can only buy new property and have to get their applications approved by the FIRB.</p>
<p>Failure to meet these conditions could result in civil penalties or criminal prosecution.</p>
<p>The Turnbull government has increased stamp duty and other taxes for foreigners applying to buy property in Australia with a view to check the rapid rise in dwelling prices.</p>
<p>Since introducing the new fees on 1 December 2015 more than $140 million has been collected, the release said.</p>
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Government forces foreign owners of 15 illegally bought properties to sell

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<p>The Treasurer, Scott Morrison, has made changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement.</p>
<p>The Turnbull Government advised last November it was set to implement changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement.</p>
<p>"This change addresses industry concerns, and means property developers won’t be left in the lurch when a foreign buyer pulls out on an off-the-plan purchase," the Federal Treasurer Scott Morrison advised.</p>
<p>"This action will ensure that markets will not be impacted negatively by an increased amount of off-the-plan sales, particularly from foreign purchasers, not being completed."</p>
<p>He said it was common sense that an apartment or house that has just been built, or is still under construction and for which the title has never changed hands, is not considered an established dwelling.</p>
<p>In the event of a failure to complete settlement, the dwelling should revert to its previous status – that is, a new dwelling.</p>
<p>For individual applications made by potential purchasers this policy change will be implemented immediately.</p>
<p>Foreign persons who apply to purchase a dwelling that is considered established, only due to a failed settlement, will be assessed as if it was a new dwelling.</p>
<p>These issues also affect the current New Dwelling Exemption Certificates, which act as a pre-approval mechanism for foreign persons purchasing new apartments in a specific development.</p>
<p>A regulation change will be made at the next opportunity to enable developers to acquire a certificate that covers foreign persons purchasing a dwelling that is considered established only due to a failed settlement.</p>
<p>The Commissioner of Taxation has advised no compliance action will be pursued against persons who, if not for a failed settlement preceding their purchase, would otherwise have been covered by an existing New Dwelling Exemption Certificate until the regulations are changed.</p>
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Off the plan FIRB rule change by Scott Morrison

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<p><span>The Department of Treasury's Working Paper into perceived links between </span>foreign investment and residential property price growth has been released with statistics finding the driver of the majority of recent price growth could not be attributable to increased foreign demand.</p>
<p>The study found the majority of foreign residential purchases are of the new property, not existing and foreign demand has accounted for only a small proportion of the increase in property prices over recent years.</p>
<p>The release said other factors such as interest rates, financial deregulation, incomes, demographics [population growth] and the prices of alternative investments, such as equities, have played a role.</p>
<p>"Given that in the short run the supply of residential property is relatively fixed so any increase in demand, whether domestic or foreign, should result in higher prices," it said.</p>
<p>"Indeed, there have been many other significant domestic drivers of property prices over the period examined.</p>
<p>"The majority of foreign investment approvals are for new as opposed to established dwellings.</p>
<p>"This provides some indication that, in the longer-term, foreign demand is increasing property supply consistent with Australia’s foreign investment framework."</p>
<p>Charles Pittar, chief executive officer of Chinese international property website Juwai.com said the Parliamentary Inquiry into foreign investment found the same thing three years ago, although without the impressive statistics.</p>
<p>"The results are no surprise and they confirm what we have said for years," he said.</p>
<p>"Offshore buyers drive huge benefits for the Australian real estate market and economy, as well as billions of dollars of job growth and physical investment in new housing.<br><br>"I'm not sure how many minds it will change. For most people, it's just too easy to blame an easily identifiable group like offshore buyers when prices get hot.<br><br>"It sounds a bit harsh for the <span id="0.7301426047924906" class="highlight">FIRB</span> to say Australian property buyers have a 'herd mentality,' but we certainly love our real estate."<br><br>"Most experts believe Sydney and Melbourne are heading for price slowdowns. If we want to keep adding new homes to the supply despite that, then we need to encourage foreign buyers - rather than push them away."</p>
<p>The report can be downloaded <a href="https://treasury.gov.au/PublicationsAndMedia/Publications/2016/Foreign-Investment-and-Residential-Property-Price-Growth" target="_blank">here</a>.</p>
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