Property has always been a fantastic investment for Australians, particularly in Sydney where the population is large and there's significant competition to secure properties in the best areas. The result of this is that landlords are able to guarantee a strong and consistent rental return from their investment, without having to worry about problems such as extended periods of vacancy that may affect other, less in-demand parts of the country.
The question, however, is what type of property makes the best rental? In this article, we'll take a look at the case made by Sydney's luxury apartments.
Purchasing an apartment can radically reduce maintenance costs.
Apartments as investments
Before we look specifically at the benefits of investing in a luxury development such as Waterfall by Crown Group, let's take a look at apartments in general. Because units are more densely packed into highly desirable areas, such as the inner city, it's possible for buyers to purchase slices of land in areas where there simply isn't much else available. This desirability can often lead to a better rental return, particularly as the 2016 Census data shows that the number of Australians living in one or two person households is increasing.
There's also an issue of maintenance with any investment property, but purchasing an apartment can radically reduce these associated costs, by sharing the load between all of the owners in a development.
The case for luxury apartments
So, if all apartments make good investments, what is it about the higher end of this market that can really provide value? Well, it all comes back to the question of desirability.
Luxury apartments are some of the most desirable forms of property in Sydney, and there are a few key reasons for this. Firstly, they are typically located in areas where there is intense demand, such as Waterloo in the case of Waterfall, or the inner CBD itself in the case of Arc by Crown Group. Secondly, luxury developments offer tenants not just a home, but a lifestyle as well. Whether that lifestyle means having access to a fantastic gym or on-site dining will depend on the individual tenants, but the variety and quality of the facilities offered in luxury complexes is second to none.
These elements will make your investment property appeal to the widest possible range of potential tenants. The more tenants that are interested in your apartment, the less vacancy time you'll have to worry about, and the higher the amount of rent you'll be able to ask for.
To find out more about investing in a Crown Group development, get in touch with our team today.