For Queensland developer Don O’Rorke, the arithmetic is simple: he can’t produce an apartment for less than $15,000 for each square metre of net-sellable area.
Which means a 100sq m must be sold for $1.5 million or more.
“So now we only pursue sites where we know we can get $15,000 a square metre, or better,” the Consolidated Properties Group chief executive says.
TUD+ Member Only Content
Sign in to your TUD+ Account or join 50,000 property professionals who stay up to date with our newsletters and market trends with Australia's most trusted property journalists.