Apartments in particular are expensive to build, costing around $4,000 per square metre. When you add in the land and subdivision costs, it can end up costing more to build them than they can be sold for, particularly in suburban areas. Only small, inner city apartments, and apartments in some prime areas with affluent demographics, appear to be worthwhile for developers to build.
Terrace houses are more cost-effective to build, at around $1800–$2,000 per square metre. However, the draft AUP prioritises apartments – 50% compared to 3–4% for terrace housing.We are looking forward to working with GRA and giving our financial affairs the due diligence they deserve. It was such a pleasure meeting with GRA on Tuesday. Thankyou for spending so much time with us. We appreciated and respected the advice that you gave to us and the integrity with which it was delivered. Many thanks and kind regards - AR - July 2017
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