Apartments in particular are expensive to build, costing around $4,000 per square metre. When you add in the land and subdivision costs, it can end up costing more to build them than they can be sold for, particularly in suburban areas. Only small, inner city apartments, and apartments in some prime areas with affluent demographics, appear to be worthwhile for developers to build.
Terrace houses are more cost-effective to build, at around $1800–$2,000 per square metre. However, the draft AUP prioritises apartments – 50% compared to 3–4% for terrace housing.Thanks GRA for ALL your help today :) You have such a great way of making your clients feel comfortable with the whole process...even though it sounds so confusing at times to me :( I would have to say that I definitely feel a WHOLE lot better now...and I have a better understanding of what is still needed to be done and what we will have to continue to do... THANK YOU :) THANK YOU :) THANK YOU :) THANK YOU - Annie Illingworth
Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.
We help new, small and medium property investors become long-term successful investors through our education programmes and property portfolio planning advice. With our deep knowledge and experience, we have assisted hundreds of clients build wealth through property investment.
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