SYDNEY, March 24, 2020 /PRNewswire/ — Crown Group Chairman and Group CEO Iwan Sunito shares his insights on residential development major trends this year that will shape the property market.
Developers tailoring home types to new buyer groups
More and more people are embracing apartment life more than ever and developers are responding to this by designing homes tailored to emerging types of buyers. There is now around one occupied apartment for every five houses in Australia – compared with one for every seven in 1991. And it’s not just young professionals seeking out apartment life these days. According to the ABS, about one-third of all new homes approved for construction from 2014 to 2018 were apartments. So, demand is coming from all sectors.
"Crown Group is constantly adapting its designs to suit the increasing numbers of millennials and families who want to be close to the city," Mr Sunito said.
At the upcoming Eastlakes Live by Crown Group development, the leading Australian developer is focused on the concept of multigenerational living, creating a magnificent new lifestyle precinct with more than 400 apartments across eight buildings, featuring a medical centre, community library and gardens to cater to all ages. The development will offer a new town centre and shopping centre with numerous specialty stores and two major supermarkets reflecting the diversity of the neighbourhood and a restaurant promenade with street cafes.
The newly completed development, Waterfall by Crown Group in Waterloo has plenty of facilities to make family life appealing – spacious living areas along with highly functional kitchens and bathrooms in the apartments, parking spaces, car shares and bikes, and ample community facilities including a rooftop cinema, open air pool, gym, music room, function room, tropical gardens and an adjoining park with play equipment for kids and pets. There are a number of apartments still available to buy or lease.
Mixed use precincts – residential retail, dining and hotels
"There was once a time when residential developers only built homes and hoteliers built hotels," Mr Sunito said. "Now, there is a growing emergence of lifestyle precincts and mixed-use developments, where residents have everything they need on their doorstep."
At Infinity by Crown Group in Green Square, which opened in 2019, below the 329 luxury apartments sits Infinity Square, a retail precinct with 18 specialty stores and dining outlets including a supermarket, a new medical practice and a nail salon, and coming soon, a SKYE Suites serviced apartment hotel for friends and family to stay in.
In the heart of Sydney, the developer recently unveiled Arc by Crown Group, a precinct that melds sophisticated apartment living with a New York inner-city lifestyle. Below the luxury apartments sits SKYE Suites Sydney, alongside a retail precinct in a restored historic lane, called Our Skittle Place, which has retail offerings like Grew and Co Fine Jewellery, a multi-level restaurant and bar Meu Jardim, as well as other cafes and restaurants in a brick-paved walkway that links Kent and Clarence Streets.
Living around new transport hubs
The eastern seaboard is undergoing something of a transport bonanza, with billions of dollars’ worth of new rail lines, metro and light rail lines, bridges and roads under construction in Sydney, Brisbane and Melbourne.
"Buying property around upcoming transport hubs such as a new train station offers opportunities for potential capital growth in years to come, but also ideal locations for residents to enjoy easy access to their workplaces and to get around town," Mr Sunito said. "Crown Group choose all its development locations according to their access to the city, universities, great shopping, medical and the best transport hubs."
Infinity by Crown Group is Australia’s only residential and hotel precinct linked door-to-door by train to an international airport, with Green Square just three stops from the arrivals gate. And two Waterloo developments, Waterfall and Mastery by Crown Group, will be close to the new Sydney Metro stop due to open in 2024 – part of the biggest urban rail project in Australia’s history.
Buying homes for brand loyalty
The concept of home buyers seeking out luxury brands in apartments is relatively popular among Hong Kong buyers. It is a way of satisfying the need for quality and good design, but it is about more than that.
"At Crown Group, we do not just sell a luxury residence, but the opportunity to enjoy an appealing lifestyle, with luxurious apartments, and vibrant dining and shopping experiences that are curated to the residents’ needs, at one’s doorstep," Mr Sunito said. "There is also a sense of belonging that comes with joining an exclusive group."
Crown Group launched an elite loyalty program, The Circle, in mid-2018, inviting those who meet certain spending criteria to enjoy a world of rewards, privileges, and networking opportunities that deliver a sense of community among residents and investors.
Members also receive exclusive invites to curated benefits and A-list events – examples have included cruises onboard superyachts; a dinner with celebrity chef Neil Perry; a Hugo Boss private fashion show with an intimate talk by Julie Bishop; Paspaley Pearls, Piaget and Bulgari jewellery showcase evenings; and Maserati and Porsche drive days.
"The concept of a themed residential community is really taking hold in Australia, with our Japanese- themed development a star example," Mr Sunito said.
Mastery by Crown Group, where world-renowned Japanese architect Kengo Kuma has designed one of the five buildings, has a ‘stacked forest’ design with greenery on its façade. It will have Sydney’s first Japanese eat street, offering authentic dining experiences drawn from the sprawling streets of Tokyo’s Shibuya and Shinjuku special wards, plus bustling Izakaya, sushi trains and ramen restaurants, to tea houses serving Cha-kaiseki.
At Southbank in Melbourne, the developer is creating an exciting new arts-themed development that will have 152 luxury apartments spanning two residential towers, with a proposed community art gallery on the ground level and a connection to the nearby arts precinct, which is filled with galleries and theatres at 175 Sturt Street.
For more information on apartments for sale visit https://www.crowngroup.com.au.
About Crown Group
Crown Group Holdings (Crown Group) is a leading Australian property group specialising in property development, property investment and serviced apartments. The company was co-founded by architect Mr. Iwan Sunito and engineer Mr. Paul Sathio with its first project in 1996.
Crown Group has successfully completed major developments in Sydney’s premier locations including Bondi, Bondi Junction, Parramatta, Ashfield, Epping, Homebush, Newington, Pennant Hills and Rhodes and most recently the 25-storey Arc by Crown Group in Sydney CBD and 2017 Property Council of Australia’s Annual Property Congress’ one of the World’s Best Projects Infinity by Crown Group in Green Square.
Today, Crown Group boasts a portfolio of six major projects under development and in the pipeline. It is currently developing three major projects in the Sydney area: the $500 million five tower precinct Mastery by Crown Group in Waterloo being developed with Mitsubishi Estate Asia; Waterfall by Crown Group in Waterloo; and Eastlakes Live by Crown Group the most exciting new address in the Eastern Suburbs.
Crown Group has been awarded more than 30 high-profile industry awards including 2019 Master Builders Association (MBA) NSW Excellence in Construction Awards Best Use of Steel, Best Use of Brick and Best Mixed-Use Development; 2019 Architecture MasterPrize in Mixed Use; 2019 Architizer A+Awards Jury Vote and Popular Choice Awards; 2019 HIA–CSR Australian Housing Awards Best Apartment Complex; 2019 MBA Best Commercial Pool and Best Commercial Spa; 2019 Urban Development Institute of Australia (UDIA) NSW Awards for Excellence in High-Density Development; 2018 Property Guru Best Condo Development and 2015 International Property Awards Best Residential Development Australia, for Arc by Crown Group; 2019 Urban Developer Awards Excellence in Marketing for Mastery by Crown Group; 2019 UDIA NSW Awards for Excellence commendations for Arc and Mastery by Crown Group; 2019 International Property Awards Winner Development Marketing Australia for Eastlakes Live by Crown Group; 2018 UDIA NSW Best Mixed-Use Development and 2016 International Property Awards Best Residential High Rise Architecture Australia for V by Crown Group Parramatta; 2017 Property Council of Australia’s Annual Property Congress’ one of the World’s Best Projects for Infinity by Crown Group; 2017 Master Builders Association NSW Excellence in Construction Awards for Skye by Crown Group; 2015 MBA NSW Excellence in Construction Awards for Viking by Crown Group Waterloo and 2014 UDIA NSW President’s award – considered one of the highest property development accolades in Australia – for the seven-tower, resort-style development Top Ryde City Living.