Man on the Move
A special Q & A session with Steve Galanos. One of the busiest men in
corporate Australia. – Provided by Robbie Wilson
Steve has a background in business, real estate and development
and has had over 13 years’ experience in the Australian property
market. Steve holds a Bachelor of Business degree from
Swinburne University and has previously held positions with
Mirvac and Westpoint.
Currently, Steve is a Director at Aus Property Corp (APC). A
boutique property developer in Melbourne Australia. Established
in 2007, Steve has increased APC’s involvement in property deals
to over $100 million.
What should a property investor know about the current property
market in Melbourne? The housing market there grew by 8.5%
last year. Now we are half way through 2014, can we expect the
same rate of growth?
The Melbourne Property market on average grows between 7% to 10%
per annum compounding. When investing in Melbourne, never think
quick gains, but think medium to long term, 5 years. The Melbourne
Property market has proved to be one of the safest and consistent
markets in the world to invest in. When investing in Melbourne, buy
with a hold strategy of 5+ years, and you won’t be disappointed.
Australia is noted for having a strong influx of investors and
immigrants purchasing property on its shores every year. Which
countries have you seen the most investment from and what type
6 E.L.I.S. - AP Assets
of property are they purchasing?
We have seen a lot of investment from all parts of Asia, but I would
have to say that the number 1 investors into Australia are the
mainland Chinese. Most offshore investors tend to prefer apartments
in the Melbourne CBD, but I see more value in landed property in the
suburbs. In my opinion the investors buying landed pr