Harry Triguboff cuts apartment construction, demands more migrants


Billionaire Meriton founder Harry Triguboff has warned that he will develop fewer apartments because selling them will be difficult due to high interest rates.

“It is harder to sell apartments now than ever before”, Triguboff said.

“The market for selling is definitely not rising…and it won’t rise much until we drop our interest rates”.

“Of course, I will not be starting so many flats again”, he said.

Triguboff also complained that he is receiving fewer buyers from China and called for Australia to import more migrants “from everywhere”:


“Our people (buyers) do financially worse than before because things in China are nowhere as good as before”, he said.

“The migrants we bring must be from everywhere”.

“Even though the Chinese are very good. Many countries have residents who would be only too happy to come”.

“Many people suffer overseas and they are often very well educated and used to hard work. We must have both of these”, Triguboff said.

This man’s greed is limitless.

Net overseas migration

Due to unprecedented levels of immigration, Australians are currently experiencing the worst rental crisis in recorded history.

Housing supply & rents

And still, Harry Triguboff is calling for more migrants to fill his high-rise shoe boxes at the same time as he plans to cut supply.

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.