Hi, not sure if this should be under Help Needed or General Property.
I've skimmed some of the threads on the forum about buying studio apartments and understand the pitfalls however, with more single people (renters and those looking to buy) and less affordability in the housing market, is studio living likely to become more popular – or acceptable – in Australia, as it is in places like London and New York?
Interested in people's feedback on this.
cheers
KarenKaren,
roughly 25% of those living in Australia today, do so in high density accommodation, and the average number of people living in a "dwelling" has come down in the last 100 years from 5 to 2 person per dwelling, and into apartments or town houses
Even more so, my company researches investment properties around the country, and one of our key indicators for a good investment is the depth of the local rental market. We are finding that in Sydney and Melbourne (today), the strongest market for tenants is for 1 and 2 bedroom apartments that are very close to infrastructure such as transport, employment zones, and shops.
To confirm your suspicions, YES certain areas are heading into the New York and London style living such as major metro areas.
feel free to call me or visit our web site for more information (02) 9299 2232 or http://www.pulseproperty.com.au
Robert Giblin – Property Investment Specialist
Financing small units on a high lvr is almost impossible these days so need to be careful when you come to sell the property as other buyers will have the same issue.
Richard Taylor | Australia's leading private lender
Just my 2c and this is purely a personal POV but I think there is a major distinction between a studio apartment and a 1brm apartment. It might add a little to the purchase price in getting a separate bedroom but they seem to rent much quicker than studios at least in Brisbane.
(No empirical evidence to back this up and I'd be interest to hear others points of view)
Cheers,
AndyAndy i agree but still hard to finance depending on the actual size.
I have a couple in a large block which I own in Taringa and I wish every unit in the block was a 1 bedder rather than 2 bedder.
Richard Taylor | Australia's leading private lender
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