Apartments are undergoing somewhat of a renaissance at the moment, with more and more architect-designed luxurious properties being developed in some of the most sought after locations across Australia. Not only are they more liveable and prestigious than previous developments, but they are also in more demand from investors, with record numbers signing up for these opportunities as soon as they are released. Inner city locations such as Docklands in Melbourne, the Rocks in Sydney and Southbank in Brisbane often feature in experts’ property investment tips, and are particularly popular among savvy investors looking for stable capital growth and high rental returns. For owner-occupiers or tenants, living in an apartment also has many advantages over living in a traditional house or townhouse.
Location And Amenities
As mentioned above, more and more brand new developments and off the plan properties are being planned and built in highly desirable locations. Generally speaking, developers are all too aware that the majority of apartment dwellers like to be close to the city, near entertainment and recreational facilities, and close to transport. Apartment owners and tenants in these areas might get to experience luxurious surroundings, with the added bonus of a quick 10-minute commute to work.
Another property investment tip for investors looking to attract tenants is that while the property prices for these types of apartments are usually much higher than their suburban counterparts, they are often offset by a higher rent per week. They also appeal to a broad range of people looking or somewhere to live because of the type of amenities and facilities on offer within the building. These can include facilities such as swimming pools, gyms and spas, roof top bbqs, movie theatres, libraries and even music rooms.
One of the main advantages of living in an apartment is simply the fact that it is hard to access from street level. Security features such as 24-hour video surveillance, security grills and on site concierges can all be reassuring.
If the apartment complex comes with parking, this is also generally secure, with access gates that can only be opened with an appropriate key pass. This means that you have the security of knowing your car is safe, even if you are away for the day or for an extended period of time.
It is easy to see why experts include apartment developments as one of their top property investment tips for first time investors and anyone looking to build a successful property portfolio. The key to finding a good investment is to do your homework about buying off the plan and brand new apartments so that you can take advantage of the many deals and opportunities offered within this market. Companies like Ironfish also have years of experience assisting investors to get on the property ladder with pre-public and pre-negotiated deals for off the plan properties in some of the most desirable locations in Australia.