MC Property - Press release

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Developer provides affordable option for first time buyers

With housing affordability at record lows, interest rates on the rise and rents set to soar, local developer MC Property has announced an innovative, flexible living project to help first time buyers access the escalating property market.

The unique development allows first time buyers to get together and purchase one property which includes four self-contained studio apartments.

This development, located in the heart of Maroochydore, also offers an excellent investment opportunity with a range of share accommodation and separate tenancy options. Each apartment features four large fully self-contained private ensuite bedrooms including expansive living and courtyard areas complete with a secure four-bay garage.

MC Property Director, Marios Constantinides believes that there is a real need in the today's market for this type of flexible living concept particularly where traditional family households are being replaced by more single parents, students and professionals seeking affordable accommodation and investment alternatives.

“This development offers excellent returns on investment with each apartment expecting to return over $800 per week, providing buyers with the opportunity to earn an extra income while maintaining flexibility on whether to rent out one or all of the rooms available,” said Mr Constantinides.

“This concept also provides opportunities for a number of friends or family members to get together as a syndicate and enter the property market in a more affordable way.”

Centrally located on the corner of Hinley and Ball Streets in Marochydore, this development features nine modern apartments within walking distance of the river, shops, restaurants, caf é s, schools and busses, making it a perfect investment for those looking to get into the market or simply invest in this high growth area.

First time home buyer, Dave Falzon, recently secured an apartment in the complex and says that the project has provided him with a unique opportunity to finally get into the property market on the Sunshine Coast .

“After looking a number of properties on the market, the decision to invest in this project was easy. This investment allows me the flexibility to live comfortably in the apartment while still making a return on my investment, by renting out the remaining rooms to help pay off my mortgage,” said Mr Falzon.

The apartments are due for completion in August and the development is the first of a number of similar flexible living projects with the next one planned for Buderim in early 2009.

For more information on this project please contact Ara Phillips from MC Property on 0432 558 148.

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