Brighter Buying

Ghosts help absorb 7000 Brisbane CBD apartments

by Kate Watt, Marketing Manager 15 June 2016

We’ve said it before, now we say it again – a truckload of apartments are due to hit the Brissie inner city market in the next couple of years.

How big is a truckload? BIS Shrapnel forecasts a record 7,182 apartments are due for completion in 2016-17 and 6,468 will come online the following year, dropping to 5,497 in 2018-19.

That’s a lot of high rise to fill with people – but interestingly enough some are intended for ghosts.

According to current dwelling profiles around one in ten apartments are intentionally vacant as either second homes or speculative investments.

Here’s the BIS Shrapnel breakdown of inner Brisbane apartments:

  • Owner occupier – 31 per cent
  • Rental apartments – 58 per cent
  • Unoccupied ‘ghost’ apartments – 11 per cent

The Watt Realty grapevine also hears talk of investors milking developer rental guarantees in favour of placing tenants in their apartments.

But where apartments are actually inhabited by occupants with a pulse, they are typically students, young white collar workers and empty nesters.

Read the BIS Shrapnel report for more details.

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