We often get asked by clients looking at investing in property why they should consider new apartments in inner city locations. There are many benefits to buying an off the plan or brand new apartment in a development – including discounted stamp or transfer duties and low initial deposits – however one of the main advantages is that they appeal to a wide group of professionals looking to rent. This is obviously good news for investors as it means high quality tenants and premium rental prices.
The Ultimate Lifestyle
More and more professionals and are opting to rent brand new apartments near to the city because they offer the ultimate in lifestyle and flexible working spaces. With the growth of working from home as an option for more people, apartments that include studies or media rooms and high speed internet access are high on the list of many renter’s priorities when they are looking for a suitable property. Many new developments are being connected straight to the NBN – or the National Broadband Network – giving tenants instant access to super fast and reliable internet without the hassle of having to arrange their own connections.
The inclusion of a media room or study alcove is popular in high-end apartments today to cater for professionals who want the flexibility of working from home but don’t want to have to find a property with two or three bedrooms. The extra space gives them the option of setting up a complete home office or to use it for simply somewhere to add a desk and a chair for when they need to get some work done. Brand new apartments are also often designed with an airy open plan layout, with plenty of windows for natural light, creating an ideal environment for working.
From the perspective of a tenant who works from home, the location of an apartment can also be important, as they often want to be close to a capital city, transport and entertainment they can easily access – many consultants and independent contractors in particular like to be able to meet regularly with clients in a central location. Taking a break from working and heading for the closest coffee shop or gym is also high on the priority list for the majority of renters who are able to stay at home for their job. This means that people investing in property should be looking at developments in the central business district or on the fringe of capital cities as they are more likely to be attractive to these types of professionals.
Anyone interested in investing in property should first consider the type of tenants they would like to attract before choosing the type of property they want to buy. This is because having a good quality property for rent that is always in demand can give you peace of mind and ensure that your investment is successful well into the future.