There has never been a better time to invest in high-rise living, says veteran Melbourne property developer Michael Yates.
There has never been a better time to invest in high-rise living. Aside from attractive views and urban convenience, apartment living has many benefits for buyers seeking something extra luxe. Here are three reasons why apartment living is on the rise.
Designed for living
Purchasing off the plan gives buyers the opportunity to tailor their abode to suit their individual needs, with no renovations or redesign required. Designers are creating spaces that are made for living and include smart features that maximise the functionality of the space for the resident.
We are increasingly seeing our clients wanting to customise the size and layout by combining two or more apartments to create a space that suits their needs without compromising on location, it’s win win.
A home for every occasion
We’re finding buyers, especially empty nesters, are no longer looking to commit themselves to the forever home. In the scenario where there is no one location or property that suits their lifestyle needs buyers are using the equity from their family home to purchase a stylish inner city apartment and a country or beach bolthole.
Once the family has flown the nest there is no need for a large main residence; lifestyle and convenience take precedence with location and amenities trumping outdoor space and empty bedrooms.
Taking time to enjoy the view
In Melbourne, high-rise living can provide stunning views overlooking the city skyline, bay and parks. At Yarra House, all the apartments are north facing and flooded with natural light; the city views were also secured when we purchased the air space rights to ensure they can’t be built out by future developments.
Savvy buyers are increasingly showing an interest in the longevity of the views they’re purchasing, and this was a sure way to future-proof their investment.
This article was written by Michael Yates, a property developer and founder of Michael L. Yates & Co.