Crown Group bullish on luxury properties in Sydney

Crown Group, which is active in property development, investment and management, is bullish on the luxury real estate market in Sydney. The city is a solid investment choice especially in the luxury apartment space, says Julian Sedgwick, global head of sales. He adds that “high quality apartments in desirable locations are increasing in value at a steady rate, backed by strong investment in infrastructure”.

Apartment building construction has boomed in Sydney and many new apartment developments are tailored towards first home buyers. According to RealEstate.com.au, an average unit in Waterloo sold for nearly $550,000 in 2010 but the average value today is $833,500 – a significant increase, says Crown Group, who adds that this trend is set to continue as more buyers compete for properties.