PETALING JAYA: Solaris Property Group launched its premium boutique co-living apartment developments in Melbourne, Australia offering individuals in Malaysia and beyond the opportunity to own their very own co-living building.
Founded with a mission to create residential spaces that benefit local communities, Solaris Property Group is quickly becoming a frontrunner in the co-living space. The company specialises in providing premium residences for individuals and couples living in Melbourne where there is a significant supply crunch.
Its co-living apartment developments feature seven one-bedroom apartments, landscaped gardens, private balconies and terraces, shared kitchen and lounge spaces, parking, and exclusive amenities that reflect a deep commitment to quality, design and environmental responsibility.
Each development is characterised by a blend of efficiency and elegance, with all projects achieving a 7-star energy efficiency rating, furthering the goal of reducing greenhouse gas emissions and ultimately providing better living.
Solaris Property Group was founded by Steven Galanos and Robbie Wilson. Galanos – a Melbourne native who has worked in the property development and construction industry for more than 20 years – has successfully delivered over 500 properties in Australia. Wilson is also the founder of Raw CreativeE, Asia’s leading real estate integrated communications agency. Together they have set out to change the residential landscape across Australia, in terms of the way individuals live and invest in property.
As Solaris Property Group continues to focus on its core developments within Australia, the company recognises the dynamic potential of the Southeast Asian market. As part of its strategic expansion plans, the company aims to engage with Southeast Asian investors and stakeholders who are seeking secure robust real estate investment opportunities in Australia.
“At Solaris Property Group, we believe in creating spaces that inspire and endure, giving people a place they can truly call home. We wanted to create design-driven properties that blend the styles of chic Australian coastal living with English Cotswolds charm.
As we launch our first Melbourne developments to the Southeast Asian market, we are very excited to share our vision of energy-efficient and innovative Australian property developments with a new audience. We see this as an opportunity to showcase our projects in one of the world’s most dynamic regions,” said Wilson.
He added that there is massive potential in the Australian market for their co-living apartment buildings. Currently 70% of tenants in Melbourne are singles or couples, however most homes being built and on the market are four-bedrooms, which shows a real design and supply mismatch.
“A rental shortage is also likely to continue for many years, as well as high rental and sales prices. These factors make our more affordable one-bedroom apartments the perfect structure for many residents living in Melbourne,” said Wilson.
Meanwhile, Galanos said: “We’re at the early stage of what I believe is a 15-year growth period in the co-living space in Melbourne. Unlike many other co-living properties out there, investors can purchase an entire Solaris apartment building which consists of seven one-bedroom apartments, providing investors with seven income streams from one development.
“Our local property management team rents out the individual apartments for investors and currently we have a 0% vacancy rate.
“Investors can expect rental returns of 10% plus per annum on their investment. Unlike a standard apartment or single family home investment, they can also apply for a land tax exemption via the State Revenue Office, which provides them with a significant annual savings.”
Investors can own their own co-living building for A$1,311,500 (RM3,637,000). Solaris Property Group has started sales in Malaysia. Financing is available for foreign investors.
