Mastery by Crown Group in Sydney’s Waterloo has experienced a spike in sales with the current median unit price now 66 per cent lower than the median house price in Sydney, driving demand for luxury, more affordable apartments with resort-style amenities.
Crown Group’s sales team has seen a 200 per cent increase in traffic and sales in the past two months.
The majority of buyers have been first home buyers not restricted by budget who have held out waiting for a premium first purchase as well as young professionals wanting to live close to the CBD and enjoy all of the conveniences of an inner-city lifestyle.
Crown Group Director of Sales, Prisca Edwards says that they haven’t been particularly surprised by the sudden rush in sales given the housing market in Sydney has been so hot with FOMO or the fear of missing out and limited supply fuelling the market.
Mastery by Crown Group is set to become Australia’s first Japanese-themed residential community designed by acclaimed Japanese architect Kengo Kuma in collaboration with Koichi Takada Architects and Silvester Fuller in the heart of Waterloo. The project will be Kuma’s first residential community in Australia.
The masterplanned community will be quite unlike any other development in Sydney with its five, uniquely designed and distinct residential buildings positioned above a 2,177 square metre retail precinct with 27 stores and a new carefully curated, authentic Japanese eat street.
“The sales spike we have experienced at Mastery by Crown Group is a reflection of the state of the market which is common in this type of property cycle where buyers are priced out of houses and buyers are drawn to the many benefits and advantages of apartment living,” said Ms Edwards.
“When the price of houses goes up, units also follows however though there can be a lag. The apartment market is currently in catch up mode to houses,” she said.
Buyers will always be looking for apartments to buy in vibrant communities close to restaurants, bars, supermarkets and and other points of interest, which is in abundance at Mastery by Crown Group, Ms Edwards noted.
Adding a new element to the style and charisma to the suburb of Waterloo, Mastery by Crown Group is the first of its kind in Sydney to entertain a Japanese theme, from the façade of the building to the state-of-the-art décor. This stunning aesthetic comes at the expert hands of three world renowned architectural firms in Japan’s Kengo Kuma and Australian firms Koichi Takada Architects and Silvester Fuller.
Mastery by Crown Group is therefore an exciting opportunity that appeals to a wide range of buyers who are looking to secure an affordable home but not miss out on the luxury and convenience of residing in a well-serviced community.
“From what we’ve seen of Mastery by Crown Group, we have reason to believe that this trend will continue over the next few years and buying into off-the-plan as a wise and viable option for first-home-buyers, upsizers, downsizers and investors alike,” says Ms Edwards.
In many cases, the new, luxury apartments are cleverly designed to maximise efficiency as well as customised interior fittings, tailored to each individual homeowner. This is all part of a move to create quality living environments, cast by well-designed spaces and high-quality finishes such as those found in Mastery by Crown Group.
Importantly, buying off-the-plan is becoming an ever more attractive option for first home buyers as well as a promising opportunity for investors with great potential for return, according to many market observers.
“This gives many of us in the industry much hope as people are exercising their confidence in apartment living and leading developers, like Crown Group, that consistently deliver for their buyers,” says Ms Edwards.
“The past year has really altered the market in a way that now points toward the value of large and high-quality apartments as their affordability has endured.”