A few weeks back, Four Corner’s Home Truth’s special report contained the above segment covering Melbourne’s boom in high-rise apartments, which are being kept largely empty by their absent investor owners (watch the video here).
Now Charter Keck Cramer’s director of researchers, Robert Papaleo, has claimed that nearly half of Melbourne’s off-the-plan apartments are being purchased by foreign investors, leaving the industry dealing with an “unprecedented level of supply”. From The Age:
