Vivien Yap | Source: Vivien Yap/Facebook

WA’s Top Agent Vivien Yap Pivots to Exclusive Projects as Buyers Seek Apartment Luxury

Ray White’s top Australian selling principal Vivien Yap, is making a push into project sales by launching a new company focused on promoting exclusive projects.

Ray White’s Vivien Yap Exclusive Projects has recently debuted in Claremont, and the top operator has spent no time in hiring two well-acclaimed and experienced project operators, Amaro Velho and Chad Toquero.

The Mustera Property Group’s new Applecross development, Forbes Residences, nestled in the heart of one of Perth’s most premium riverfront neighborhoods, is a showpiece project the team is now promoting.

WOHA, a Singaporean architecture firm, has built a series of 34 luxurious apartments. Prices for three and four-bedroom flats with views across the Swan River to the Perth CBD vary from $1.6 million to $3 million, with a maximum of four houses per level.

Vivien Yap, who has been named the best agent in Western Australia for the past five years in a row, also owns Ray White Dalkeith | Claremont, and this will not change.

“This is an entirely separate business but one that is a natural extension of my current one. I have been involved in selling luxury real estate in Perth for 10 years now, and during this time I have worked with many international and local developers to sell their prestige stock,” Yap said.

“Now is the time to seize this opportunity. The Perth market has never been so active, and COVID has accelerated local buyer demand and growth. We will be able to service the full suite of buyers from prestige penthouse buyers to professionals looking to buy their first investment and even first home buyers.

“I have been approached by quite a number of iconic developers, some based in Perth, others in Sydney and also others in Asia, to project manage their landmark properties. The time is now to be able to service our developers on a large scale. We have a highly experienced team and we are in it for the long haul.

Yap said the business will cater to all types of buyers.

“Investors looking for high-end stock and also expats or interstate buyers who are planning to move home in the next 18 months or so,” she said. “We’ll have off-the-plan projects for all buyers looking for apartment towers, townhouses and very upmarket first home buyers.”

Forbes Residences. Source: Mustera Group

According to a report from Urbis, the most recent quarter was the first quarter in which more apartments were sold off the plan or in buildings under construction (52 per cent of sales) than completed units in Perth, a reversal of recent patterns.

Many owner-occupiers are also opting for more upscale flats, with 53 per cent of transactions occurring in buildings classified by Urbis as high end or luxury/premium complexes. These sorts of units often account for less than 40 per cent of total sales.

The buyer concentration on luxury apartments in more wealthy neighbourhoods resulted in the highest average selling price ever recorded in Urbis survey (running since Q3 2014), at $900,214.

Velho expressed excitement about representing the Ray White organisation, which he believes will become a major player in this boutique sector.

“There has been a gap in this market for a long time and there’s been players who have come and gone,” he said.

“No doubt, it’s a niche market but it’s a fast growing one. We’re in it for the long term which is exactly what you need to have the staying power in projects.

“Many off the plan marketing campaigns can take three to four years. The business will also offer a consultancy service for developers who are looking for an edge in sales and marketing strategy.”

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