There’s no denying that the property market is in a state of flux at the moment. A long-expected - and what is widely regarded as an inevitable correction, currently sees a levelling out in values and sale prices.
This follows a stratospheric rise – especially during 2021, post the upheaval of the Covid 19 lockdowns. With prices coming back down to earth, pundits predict this will finally open the prospect of home ownership to groups that had previously struggled to get onto the property ladder – even in the apartment sector.
Companies that are in for the long-haul, with well-established supply chains and solid, comprehensive funding aren’t expected to suffer in the current slowdown – especially if they have a proven track record of success, and international developer Risland Holdings falls into this category.
The Hong Kong-based, multinational residential and commercial real estate and construction business is currently bringing projects to market in countries as diverse as the UK, USA, Thailand, India, Vietnam and Australia.
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It takes its core aims and objectives very seriously and is committed to being an innovative driver of urban development and residential environmental improvement.
Risland’s local arm, in New Zealand, has already enjoyed significant success in the Auckland apartment market. Its architecturally designed, Neo development - located in Madeira Lane, Grafton, features 99 high-quality, freehold, apartments ranging from studio pads to one-bedroom and two-bedroom, plus home office, properties.
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All were snapped up quickly by eager purchasers looking for superior style and value on the lively and vibrant city fringe, just 10-minutes-walk from the CBD and zoned for grammar schools. Neo was settled in 2021.
Meanwhile, Risland Albany – another ground-breaking development in a fast-growing and popular spot, on Auckland’s North Shore, has been similarly successful.
It has met its commitments to its purchasers, with all 141 residential apartments and four commercial units built and presented - not just on time - but actually slightly ahead of schedule, in 2022.
This was despite the lockdowns and subsequent hiccups in accessing materials – caused partly by Covid 19, plus unrest in Europe - leading to shipping delays and other unavoidable external factors, which saw pressure on prices.
The Risland, Albany development borders Don McKinnon Drive and stands eight storeys high. It’s a mix of one, two and three-bedroom freehold apartments – some of which come with a study.
New Zealand’s sales and marketing manager, Alice He, believes that Risland Albany’s impressive result is proof that the company is on top of its game.
“It demonstrates our strong record of delivering results and shows that purchasers can have absolute confidence in us – even during times of uncertainty,” she says.
“I think that our client target is very accurate, and we carefully design our floor plans to specifically suit their needs and their budgets.”
She adds that the Albany location is another example of Risland’s superior ability to read the market.
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“It’s a central hub for offices, education, retail establishments, small businesses and transport and we have been able to offer very affordably priced apartments for such a prime position.”
“We knew it was a great place for investors and for working couples, new to the property market, looking for low-maintainance living and easy commutes.”
The company is currently set to repeat its previous development success – in council-identified growth mode at Albany, with Risland Meadowbank.
This exciting new project – on the other side of Auckland’s harbour bridge is set in a classic eastern seaside suburb. The development’s currently under construction and already proving so appealing that the majority of Risland Meadowbank’s cool and contemporary units have been signed up already.
Sales and marketing manager Alice He believes that while some kiwis may feel uneasy about purchasing apartments off the plans in the current market, Risland buyers can be extremely confident.
She says the extent of demand at the Meadowbank development - thus far, is indicative that potential buyers should act quickly in order to avoid disappointment.
“We only have around 20 units still available.”
The development follows Risland’s previously tried and true approach with a firm focus on developing a true community through shared spaces, including a leafy central courtyard.
Its interior design is cool and contemporary with a signature colour scheme and options for personalising timber flooring and cabinetry.
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Risland Meadowbank is being built by Risland Construction Limited and a mix of one to three-bedroom apartments, and three to four-bedroom terraced homes is swiftly taking shape.
The location is perfect for accessing public transport, excellent schools, parks and reserves, shops and eateries, and prices have been carefully set to be easy on purchasers’ pockets.
Two-bedroom, one-bath units start from $905,000 with two-bedroom and two-bath from $942,000 and penthouses from $2,300,000. Estimated completion is at the end of 2023.
