By Robert Carry
A new central Hobart residential development from Australian firm Viva Properties is set to be marketed in Hong Kong, the company has revealed.
Viva Properties believes 'Riverview Village at Hobart' in the island state's capital will appeal to overseas investors due to the city's tight rental market. "We are packaging Riverview Village at Hobart as a turnkey rental property for real estate investors with rental yields averaging over 7%" said Greg Rips, co-director of Viva Properties.
Michael Ta, the company's other co-director, pointed out that under normal circumstances foreigners can only purchase new build developments in Australia, which can often mean lower priced investments are beyond reach. He continued, "We are one of the few developers to provide foreigners the opportunity to own freehold investment properties."
The ONEILL Group has been selected as the international sales and marketing firm for Hobart Residences. Patrick O'Neill, the company's CEO, described the development as "a perfect match for the investors in the Asia market".
Riverview Village at Hobart will be priced in the low $200,000s and will be available for purchase in Hong Kong from 1 December.