As part of the Property Council's People of the Property Council campaign, Salta's Managing Director gave an insight into his history in property and how things are going in lockdown.
"Salta Properties is a family company started by my father, so I grew up in the property industry. As a schoolboy, I recall with fondness the many weekends I spent with my father visiting our construction sites and touring our developments and portfolio properties. That is the kind of education you cannot buy!
There is one thing for certain… you cannot make more land. That’s why any well-located property, regardless of its use, is worth keeping. The use you put a property to will be susceptible to market cycles; however, a well-located property can be re-imagined and put to alternative or upgraded uses to respond to market conditions of the day. That is why we have always been more on the buy/hold side, rather than the sell-side. That has not changed, even with the current uncertainty in the market.
In terms of what has got me through lockdown, there’s been way too much wine… but it has also been a treat to be able to sneak out for an hour a day and go for a walk or have a hit of tennis with my wife – something that I always struggled to find the time to do previously." – Sam Tarascio, Managing Director, Salta Properties and Property Council (Victoria) Division Councillor
Posted 30 July 2020