Buyers come from all over Sydney to take Piper to 50% sold
The exclusive Point Piper development, Piper, a rare new development in Australia's most affluent suburb, has been a hit with buyers all over Sydney.
The project, a collaboration between two prominent eastern suburbs developers Fortis and Dare, has flown through the 50 per cent sold mark in just a few months, having launched the boutique collection of just 15 residences at the back end of March.
CBRE Residential Projects head Ben Stewart said they were seeing buyer enquiry coming in from everywhere from the inner west and lower north shore, with locals from Vaucluse and Dover Heights also showing keen interest.
There was even a sale to a soon-to-be downsizing owner-occupier from Point Piper's exclusive Wolseley Road, who were looking for something brand new.
“It’s really evident how well the apartments match up to what downsizers are looking for, both in size and their finish," Stewart says.
"The apartments on offer a great size, anywhere from 200 sqm to 250 sqm internal, while also still incorporating a few special features, such as some feature a swimming pool, or big gardens," Stewart added.
"The apartments are beautifully appointed with very high-level finishes, and a number of enticing factors that are turning people toward Piper."
Sharing its postcode with some of Australia’s most prestigious and historic homes, Piper delivers on its vision with interiors by leading interior design studio, Mim Design, and acclaimed landscape architects, Dangar Barin Smith.
Inspired by the intimacy and grandeur of a private estate, Piper delivers a mix of two, three and four-bedroom apartments across the four-level building.
Each apartments features soaring ceiling, open layouts and large living, entertaining and outdoor areas, with some even including their own private pool.
Stewart says the latest interest rate movements haven't put buyers off, in fact, it's been the opposite.
"Those buyers who are looking at an off the plan property, particularly those not due to be complete for another few years, haven't shown too much concern about the current interest rate hikes," Stewart says.
"Where for the last six to 12 months we've seen people locking in interest rates, we're now seeing people jumping into the off the plan market, hedging their bets that rates will be coming back down in 18 months or so when projects come up for completion."
Stewart also says buyers are believing now is the right time to move into the apartment space, with the price gap between houses and apartments at record highs.