Century 21: Metro Projects

About

CENTURY 21 Metro Projects Melbourne's Apartment and Townhouse Specialists, Melbourne, Australia, is the "world's most liveable city" for the fourth consecutive year according to three leading international surveys listed in Wikipedia. Melbourne has experienced an unprecedented population explosion that has transformed it from an urban sprawl to a cosmopolitan metropolis of sophistication in less than a decade. As a result, Melbourne's demographic has dramatically shifted from decentralised living on large suburban blocks to high rise apartments with recreational facilities & townhouse developments within an inner-city radius of 3kms-5kms from the CBD. While lifestyle attractions & supporting infrastructure are drawing young professionals & downsizers to this dynamic hub, the low vacancy rates are the key attraction for investors. It is no wonder then that Melbourne has almost as many development projects as all the combined capital cities in Australia. When such level of demand is concentrated in an area of Melbourne that is little more than 10% of its entire geographic spread, the inevitable result is that there is a significant undersupply of land. The state government's solution has been to allow Melbourne to grow "upwards" instead of "outwards", which explains the record number of new developments being launched. Project Marketing describes the process of literally selling properties "off-the-plan", which effectively means before construction. Commercial agents are usually the main source of supply of development sites. Through this connection, developers often retain these same agents to sell their projects off-the-plan to the residential market.