Is it wiser to choose a mid-range apartment for your next investment, or to level up to luxury property instead? While either option has its advantages, there are three key factors that make high-end properties more attractive to smart investors in Australia.
High quality is easier to maintain and rent out.
If you build and buy quality, you’ll be enjoying the benefits for a long time to come. Whether you’re planning to reside in your new property or offer your apartment for rent in Sydney, you’ll have a far lower maintenance schedule and lower costs if the apartment features quality finishes, premium appliances and excellent energy efficiency. With the right property, these features will all be included.
The high quality and amenities of luxury off-the-plan apartments in Sydney also makes these properties highly appealing to young professionals looking for a rental property. This has two benefits: both a better rental yield, plus a better quality of tenant who is likely to stay there for the long term. And should you ever decide to sell, you’ll have all the more reason to ask for a premium final sales price.
Apartment living is the way of the future.
Apartment living is on the rise – according to ABS figures there was one occupied apartment for every five occupied houses in 2016, compared to one for every seven in 1991. And why wouldn’t the apartment lifestyle be on the rise? Residents can enjoy proximity to the Sydney CBD, parks, entertainment and restaurants, plus benefits like an infinity swimming pool, modern gymnasium and rooftop lounge by living at luxury developments such as Eastlakes Live.
A luxury property is often a well-planned property. And that’s good news, regardless of if you’re investing to live or rent. An architect has more time to invest in the planning of a luxury apartment and this carries through every aspect of the design. Any prospective resident or buyer can see the appeal in sleek cabinetry, clever storage and passive energy design. It’s wise to search for an architect-designed apartment, whether you’re buying in Waterloo or in Parramatta.
Luxury apartments are often in a prime location.
Premium apartments will typically be located in the best urban locations, which is obviously top of the list for property investment. For instance, Infinity by Crown Group is located at the heart of Sydney’s hottest new precincts, Green Square. Top retail, dining and entertainment destinations are right at the doorstep, and in fact within the very same building. Don’t choose an older property in a stagnant area – instead, choose a vibrant and growing neighbourhood where investors and locals see future potential.
Now may be an ideal time to buy a luxurious new unit. With Sydney seeing its most significant decline in property prices since the 1980s, it’s a buyer’s market. Investors will tell you that the best time to buy an apartment for sale in Sydney will be when prices are relatively low and you have more choice as a buyer. So level up, and step into your new luxury abode in the Sydney CBD.