Half of new apartments built and bought by offshore investors: industry expert

By Clay Lucas
Updated May 27 2016 - 2:13am, first published 1:08am
Development planned and under construction in central Melbourne.  Photo: Planning department
Development planned and under construction in central Melbourne. Photo: Planning department
Melbourne'scentral city will have 6,000 new apartments next year. Photo: Rebecca Hallas
Melbourne'scentral city will have 6,000 new apartments next year. Photo: Rebecca Hallas

Half of central Melbourne's new apartments are being built and bought by off-shore investors, as the city grapples with what one development industry figure has labelled an "unprecedented level of supply".

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