Developer unveils luxury tower where apartments cost more than houses

Keylin is behind Oria — Brisbane’s city’s first tower to overlook the future Olympic stadium at Victoria Park. A developer has revealed a Spring Hill apartment tower where three-bedroom units are priced above the suburb’s median house value. Keylin has unveiled the facade of Oria — Brisbane’s city’s first tower to overlook the future Olympic stadium at Victoria Park. According to realestate.com.au, the median price for a house in Spring Hill is $2.285m while it’s $700,000 for an apartment. The facade unveil marks the most visible milestone in Oria’s construction. With an average price of $3.2m, Oria’s large three-bedroom apartments, spanning up to 246 sqm, represent apartments that are more than the value of a stand-alone home in the suburb. Keylin managing director Louis Cheung said this reflected a deliberate shift in how buyers were approaching inner-city living. “Apartment living was once viewed as a stepping stone to home ownership,” Mr Cheung said. “Today, buyers are making a deliberate choice to live in larger apartments, rather than traditional homes, so they can be closer to their work, children’s school and everyday convenience.” MORE NEWS: Cut prices or your home won’t s...