Thursday, August 11, 2022
HomeCoorparooMaasra Apartments - $55k in First Home Owners Grants

Maasra Apartments – $55k in First Home Owners Grants



As the widely-accessed HomeBuilder grant comes to an end on March 31, first homebuyer Oliver Rae is pleased to have secured a brand new apartment at Maasra Apartments in Coorparoo, Brisbane, with assistance from three grants.

Mr Rae, 30, was able to buy a two-bedroom apartment at Maasra Apartments by taking advantage of three separate housing grants; the HomeBuilder grant, the First Home Owners’ Grant, plus a Maasra Developer Grant.

Maasra Apartments’ developer Karam Group has been offering an additional $15,000 on selected apartments to purchasers who are eligible for the Queensland Government’s First Home Owners’ Grant.

The Maasra Developer Grant was instated in September 2020 to coincide with the HomeBuilder housing stimulus. Both grants will expire on March 31.

Mr Rae, a customer service manager and voice actor, said the opportunity to use the available grants to purchase a brand new two-bedroom apartment in Coorparoo was too good to miss.

“The timing was right to buy my own apartment and the process has been a glimmer of light through a lot of gloom (with 2020 being what it was) however, I was able to save money that I would have normally spent on commuting to work, social outings and travel to put a deposit on a brand new apartment at Maasra,” he said.

“With the grants available and having rented the last 10 years, I started thinking 2021 was going to be the year where I finally buy my own home and it just came together.”

The $102 million Maasra Apartments development is located in the highly sought-after suburb of Coorparoo in Brisbane’s city fringe, with one, two, three and four bedroom apartments ranging from $430,000 to $1.7 million.

Maasra Apartments’ central location within Coorparoo’s hub of cafés, restaurants, cinemas and shops is highly appealing to apartment purchasers like Mr Rae, who is particularly pleased with the public transport networks right on Maasra’s doorstep.

“What attracted me to Maasra the most is the location. Coorparoo has become quite vibrant in recent years – there’s plenty of shops including several supermarkets nearby, Coorparoo Square with a Dendy Cinemas just a short walk from Maasra and it’s close to Stones Corner where I live now,” he said.

“Brisbane CBD is just a few kilometres away, so it’s close enough that everything is convenient and just far enough out to be a bit more affordable than closer inner-city suburbs.”

“I think there is a lot of potential for apartments at Maasra to increase in value over the coming years as far as location and apartment quality are concerned.”

Karam Group Director Anthony Karam said the decision to offer an additional cash grant to first home buyers for selected apartments at Maasra was made in response to Covid.

“It was already a very stressful time and we wanted to give first-time buyers some extra assistance towards purchasing their first home,” Mr Karam said.

“When the Federal Government extended the HomeBuilder grant at a reduced amount, we continued to offer our Developer Grant in full to first-time purchasers so they could have the best opportunity to own a quality apartment in one of Brisbane’s best locations.

“Our Maasra community will be a wonderful mix of mostly homeowners, from upsizers who have secured our large four-bedroom, home-sized apartments for more lifestyle and less property maintenance, to downsizers who will have everything they need right on their doorsteps, through to first home owners who made a smart move buying a brand new apartment at Maasra.”

As construction on Maasra Apartments continues to rise out of the ground, leading construction company Hindmarsh Australia (Queensland) is on schedule to deliver a high quality building designed by award-winning Brisbane architect firm HAL Architects.

Luxury apartment marketing agency TOTAL Property Group is managing the sales of Maasra Apartments, reporting strong demand from Brisbane locals who have been motivated by the high quality apartments, the amenity-rich building and sought-after location.

“Maasra Apartments has an extraordinarily high level of owner occupier appeal, with 94% of apartments purchased so far going to buyers who intend to call Maasra home,” TOTAL Property Group Managing Director Adrian Parsons said.

“Interest in Maasra has been increasing as construction progresses, mostly from Brisbane locals who currently live within 25km of the site.

“Coorparoo is a popular Brisbane suburb and Maasra Apartments is offering stylish and spacious apartments in a building designed for lifestyle and to complement its prime location right in the heart of a food and beverage hub.

“It’s an exciting prospect; to own a brand new luxury apartment in a location this good, with its own cultural experience just a few kilometres from the city centre.”

Maasra Apartments offers luxurious living spaces with the look and feel of spacious homes within an elegantly-styled eight-level, 102 luxury apartment building featuring a podium recreational area with resort-style amenities.

Residents will have access to a range of lifestyle facilities, including a 25-metre pool with timber decking, sun beds and beautifully landscaped surrounds, plus a residents’ lounge and gymnasium.

Centrally located on the corner of Holdsworth Street and Old Cleveland Road in Coorparoo, Maasra Apartments is just 4km from Brisbane City with cafés, restaurants, cinemas and boutique shops within walking distance, as well as easy access to public transport facilities and road networks.

For sales information and to book an appointment at the sales suite, located opposite Coorparoo Creek Park on Holdsworth St, Coorparoo, phone TOTAL Property Group on 1800 868 666 or visit

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Source: Information, Drawings and Images
All article information is sourced and available for review from referenced locations.

– Information and Images supplied.

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