墨尔本这几个地方公寓大亏，但还要建更多！

Core Viewpoint - The article highlights the increasing trend of loss-making apartment sales in high-density development areas in Melbourne, raising concerns about the feasibility of future high-rise projects amid rising construction costs and interest rates [1][2]. Group 1: Market Trends - In certain high-density development areas, the proportion of loss-making apartment sales has reached as high as 42%, particularly in South Yarra [1]. - The Victorian government has designated areas such as Armadale, Malvern, Prahran, South Yarra, and Windsor for higher-density residential development, allowing buildings up to 16 stories in some locations [1]. - Recent data shows that many apartments in these areas are being sold below their purchase price, with loss percentages for South Yarra at 41.9%, Prahran at 34.9%, Windsor at 25%, Malvern at 22.7%, and Armadale at 17.3% [1][2]. Group 2: Property Values - The median property values in these suburbs are as follows: Armadale at AUD 672,170 (down 4.5%), Malvern at AUD 794,291 (up 5.3%), Prahran at AUD 545,836 (down 3.5%), South Yarra at AUD 593,344 (down 1.9%), and Windsor at AUD 573,706 (down 2.2%) [2][3]. - The rising construction costs and interest rates make it challenging for developers to build apartments at prices that self-occupiers are willing to pay, with two-bedroom apartments potentially needing to start at around AUD 800,000 for projects to be financially viable [2][3]. Group 3: Buyer Preferences - There is a discrepancy between the types of apartments being developed for investors and those desired by owner-occupiers, leading to a mismatch in market demand [4]. - Existing apartments, often only five years old, are available at lower prices, making them more attractive to buyers compared to new developments that require high pre-sale prices [3][4]. Group 4: Community Concerns - Local residents express concerns that high-density developments may lower the area's image and complicate community dynamics, particularly regarding the inclusion of affordable housing [6][7]. - There is skepticism about whether new apartments will genuinely alleviate the housing crisis, as prices may remain high, primarily attracting wealthier buyers [6][7]. Group 5: Developer Insights - Developers are advised to focus on larger apartment units, which are seen as more sustainable and appealing to owner-occupiers, as opposed to smaller units that have limited capital appreciation potential [9]. - The significant increase in construction costs over recent years necessitates careful financial planning by developers before initiating new projects [9].