The 500th apartment at Top Ryde City Living in Sydney has been reported sold, just months after the launch of its final phase.
While most of the buyers are local investors and owner-occupiers, Southeast Asians accounted for the majority of overseas investors, said Iwan Sunito, CEO of developer Crown Group.
“The number of enquiries from Southeast Asia has grown in the past six months with many buying property as an investment or for their children to live in while they study in Australia,” he said.
Sunito noted that this group of buyers were drawn to the project's “good location, quality and five-star, resort-style facilities”.
“Crown properties are highly regarded with a reputation for high quality, resort-style look and feel throughout all apartments and common facilities.”
“Residents of Southeast Asia want to buy in areas that are strengthening, areas that are underpinned by employment, transport, shopping and education, with genuine faith in the product they’re buying into,” Sunito added.
Situated above the Top Ryde City Shopping Centre, Top Ryde City Living is close to shops and schools including Sydney's prestigious Macquarie University. It comprises 653 apartments spread across seven blocks.
The A$500 million (S$571 million) project has won numerous awards like Best High Density development at the 2013 Urban Development Institute of Australia (UDIA) NSW awards 2013, the UDIA NSW Presidents award 2013 and Master Builders Association Excellence in Housing award 2013.
Its final phase, VIVA by Crown, features 166 one- and two-bedroom apartments in two buildings, with prices starting from A$535,000 (S$610,896) for one-bedrooms and A$795,000 (S$907,834) for two-bedders.
Launched for sale in August, construction work on VIVA by Crown has started and is set to be completed in mid-2014.