At the peak of community coronavirus concerns, off-the-plan real estate specialists Eton Property Group braced themselves for a market downturn, a financial body-blow outside of their control. Close to three months later, it’s yet to arrive. Buyer enquiry has remained strong, business is brisk, and genuine smiles have returned to online sales meetings.
“Thoughtfully designed product at a sensible price will always sell, even through tough times,” says Daniel Caspar, Director of Eton Property Group. “And the lifestyle benefits of an inner-city address should never be undersold.”
Despite some dire predictions, the off-the-plan segment of the real estate market is performing with resilience. Eton’s best-performing off-the-plan project in the last quarter has been Immerse Richmond with the majority of the development sold and only 7 properties remaining. Caspar says that the successful campaign has been a true collaboration between Hub Property Group, architects CSA, and the Eton team.
“I have a background in project management and developing so we’re able to provide information to ensure every property is efficiently designed for the right target market,” says Caspar. “There’s a real need for unique, high-quality homes in Richmond and downsizers have responded. Both the apartments and Skyhomes are very generous in size with the ones still available all over 100 square metres.”
During May, Eton achieved some of Richmond’s highest square metre rates with a number of Immerse’s two-level Skyhomes (some with rooftop city views) selling at $13,600 per square metre. This success was generated under the shadow of restrictions, and the sales team quickly discovered that potential buyers were more comfortable communicating via email, zoom and text. In fact, the only face-to-face contact was for contract signing and finishes viewing.
“We always aim to provide an outstanding customer experience, but in the past few months we’ve been particularly proud of our capacity to renew, adapt and succeed in a turbulent environment,” Caspar says. “As the economy grows and the Federal government provides stimulus of $25,000 to off-the-plan buyers, property will always sell with the right design, advice and team in place.”
Construction is commencing soon at Eton's highly anticipated Richmond development, Immerse.
Contact Eton's expert team for more details.
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