High-end property brings with it a myriad of benefits: superior quality, cutting-edge style, appealing amenities and central city locations. However, is a luxury property a wise investment in a property downturn? In fact, a luxury apartment could remain the pick of the crop for a property investment in Australia’s largest city.
Location really is key for high-end properties.
Architecturally-designed apartments in the heart of the city, Waterloo and the new Green Square are now within easier reach for savvy investors. New infrastructure developments are also opening up new locations with great potential. Consider the revitalised Eastlakes area as an example, situated just 6km kilometres from the CBD and 3km from the airport. The future CBD and South East Light Rail promises even greater connection to luxury apartments in this area with a new station at Kingsford. A one, two or three bedroom apartment at Eastlakes Live by Crown Group could be the perfect opportunity to capitalise on this interest. The future Sydney Metro line also promises to attract interest from both investors and tenants to areas such as Waterloo, with a shorter commute to work and leisure options. Investors would be smart to snap up properties in these inner-city suburbs early, as mainstream interest could drive prices sky high.
But will the property market pick up again?
The 2018 Aussie/CoreLogic 25 years of Housing Trends report predicts that by 2043, the median apartment value in Sydney could be $3.47 million. That’s an expected rise of almost 400% compared to the current median value of $696,935 as of April 2019. The trends all point to a luxury apartment being a wise choice, too. More families are living in apartments than ever before, and Australians on average are renting well into their thirties and beyond. With so many young professionals looking for high-quality apartments close to work with modern amenities that appeal to their active lifestyles, it’s easy to see how the right luxury apartment will tick all the boxes for a property investor in 2019.