Vespa offer to entice buyers to South Yarra one-bedroom apartments

Spec Property Group is enticing potential buyers by including a Vespa in the sale of some of their one-bedroom apartments in the South Yarra development.

The Ella development on Claremont Street features 167 apartments; 60 of those are one-bedroom apartments with no car space.

Spec is offering up to 20 Vespas to those lucky enough to secure a one-bedroom apartment with an allocated scooter space. 

The iconic Italian scooters are worth between $4,000 and $9,500, depending on the model.

One-bedroom apartments range in price from $339,000 to $445,000 and range in size from 39 square metres to 45 square metres.

The 107 two-bedroom apartments come with a car space and range in price from $535,000 to $650,000.

The kitchens feature Smeg appliances and Caesarstone benchtops but can be upgraded to Miele appliances.

Developer gifts are not a new concept within Australia; incentives such as cars, holidays and even cooking lessons with a celebrity chef have been utilised to attract potential buyers.

This is not even the first time Spec Property Developments have offered incentives; previously they have offered to pay the stamp duty for apartments purchased in their Madison development in Doncaster.

The Vespa incentive first appeared in Jacksonville Florida, with buyers at the Chelsea Lofts being able to choose between receiving a Vespa, having their homeowner association fees paid for a year or getting a plasma TV.

The rise in incentives can be seen as a result of tough housing market conditions.

Although the prospect of a lavish item, such as a Vespa, may seem like a good prospect, buyers are warned that there is a catch. The costs of the incentive are often hidden away in land or building costs.

Ella is currently 50% sold, with construction already commenced.