Colliers International in conjunction with Investment Management Australia (IMA) provided an insight into the current market, how it is affecting the direction of residential development and where the opportunities lie for private investors.
Colliers International residential state director Ben Langfield, said the event was about providing research based information to assist in minimising risk and maximising return.
"Faultering economic conditions, affordability, land availability, infrastructure planning, stricter financing prerequisites and lifestyle trends are influences affecting the success of today's projects and the modern day developer," he said.
"All reactions were very positive. We didn't talk about the state of the market because the 'game plan' has changed," he said.
"Instead we showed them a way through the current market and how to position themselves for the future 'residential revolution'."
Colliers International residential research director Jonathan Rivera explained to the group including representatives from Property Solutions, Indigo Group and the Anthony John Group what they should consider in uncertain times.
"Stop pretending the market has not changed," he said.
"For the next several years, it will be about the customer – Rethink the product, the price, the place, the promotion and the people in that light."
Mr Rivera assured developers 'the worse the downturn, the greater the buying opportunities are'.
"Many real estate fortunes have their roots in downturns," he said.
"Real estate will emerge from the downturn smaller, denser and greener."
"Finishes, amenities and views may not compensate for marginal locations in the coming years,
"Lasting appeal and enduring value will be an important motivator for buyers moving forward."
Mr Langfield said Colliers International had been leading residential project marketers in Brisbane for over 15 years.
"Our experience at the coal face of almost every major development combined with our extensive research offering ensures that we know what does and doesn't work in the residential project marketing arena," he said.
Colliers International will be holding educational events in early 2009 for corporate clients.
