The Docklands water analysis report in Mexico City shows that hundreds of apartments in the area have not used a drop of tap water last year! Related research also shows that out of a total of 150 million houses in Melbourne, 6 are uninhabited!

The houses that were judged to be unoccupied were either dripping water or using less than 12 litres of water per day in the past 50 months.

The report, called Speculative Vacancies, was made by the tax reform group Prosper Australia. The group said that so many vacancies are the result of investors hoarding frantically for long-term benefits.

Since these houses are not listed for rent, this part of the data will not be included in the official short-term vacancy rate of houses. Currently, the official short-term housing vacancy rate is only 3.1%.

Karl Fitzgerald, project director of Prosper Australia, said that based on water usage data, Melbourne's current real housing vacancy rate is close to 7%.


But in the next five years, Docklands will also build nearly a thousand apartments. The report pointed out that the new development plan will turn all new apartments in the area into "ghost buildings."

Tony Crabb, the chief researcher of Savills, said that if overseas buyers buy a large number of houses, then in the next few years, the vacancy rate of Mexican houses will continue to rise. "Overseas buyers find it very troublesome to rent a house. It is not worth renting out for such a small amount of rent. There is no doubt that the vacancy rate in Mexico City will continue to increase in the next few years."

The situation in Mexico City is similar to Hong Kong. Due to the large number of buyers from mainland China, the housing vacancy rate in Hong Kong has also remained high.

In Melbourne, 85% of homes are treated as "financial products" by buyers. In addition to Docklands, Carlton South, West Melbourne and Abbotsford in Melbourne's inner city also have high vacancy rates. In the southeastern suburbs, Cardinia and Clyde also have a vacancy rate of 12.4%.

Prosper Australia called on the government to change the stamp duty on new home purchases to land holding fees. Only in this way can we control the frantic hoarding of new homes by buyers.

The Agelogo-40x402

News link: