Crown land in the Pilbara could be given away for free as long as developers commit to build luxury high-rise apartments.
The government is apparently considering this option as a way to keep up with the mining boom and resultant housing shortages in the region that have caused property prices to rocket, according to the Australian.
Government officials said the strategy is intended to prioritise quality residential development, amid hopes that the development will attract further resources investment. The area's first apartment tower is already under construction in Karratha.
The Pilbara region has been one of Australia's property hotspots over recent years, as billions of dollars have been ploughed into the region by government and mining companies. Median house prices in Port Hedland increasing by 129% to $780,000 over the last five years.
Free land in the Pilbara? Is it too good to be true? Let us know what you think at www.yourinvestmentpropertymag.com.au/forum
Do you have more than $120k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out