Affordable apartments are the new Australian dream
We may be seeing a new trend in property; that the great Australian dream of owning your own home is shifting to owning your own apartment.
Apartments and units are often a more affordable option for many buyers and not surprisingly they are more popular than ever.
Many Australians don’t necessarily value having a backyard over a low maintenance apartment. Apartments tend to be cheaper to maintain and are generally closer to the CBD, shops, restaurants and parks, which are all positives for many of today’s buyers.
Our buyer demographic nationally is changing too with more singles looking to purchase property, as well as couples who are looking to downsize.
There are many positives to investing in apartments. While from a buyer’s perspective apartments tick many boxes, this can also be said for renters.
New developments are opening up some great opportunities for investors looking to take advantage of rising demand. Apartments are popular among tenants making demand for them strong, which consequentially increases the rental income for the landlord. There is generally a good return on investment in the apartment market for property investors looking to start or grow a property portfolio.
To find out more about unit and apartment opportunities, or buying any type of home in your search area, contact our expert team today.