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Expected First Home Buyer Popularity for New Belconnen Residential Tower

By Ben Faulks

Anyone looking into Belconnen apartments in the coming weeks could be interested to hear about the latest development by Canberra-based property developer Geocon, with units in a new residential tower expected to be purchased by first home buyers when they hit the market later in March. 

With a general shift towards more vertical, medium-density living occurring across the nation, coupled with an impending population boom over the coming years, this could highlight the growing demand for smaller properties within the ACT capital. 

Geocon Managing Director Nick Georgalis said the 27-storey tower will be launching in the Belconnen city centre after being approved last November. Mr Georgalis went on to say in a March 5 article in the Canberra Times that first home buyers would be able to make a deposit on a unit and make payments towards the balance duirng the construction period.

"'I think this is the most anticipated release of any project and I hope it sells out very quickly," said Mr Georgalis. 

Prices will range from $269,900 for a one-bedroom apartment through to $679,900 for a three-bedroom and two-bathroom unit. These could provide great investment opportunities for anyone interested in securing investment Belconnen real estate in the near future. 

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