Demand For Smaller Properties

September 27th, 2013

Sydney’s appetite for apartments is surging, with off-the-plan investments being snapped up quickly.

Jones Lang Lasalle has said that 55 to 60 square metre, one bedroom apartments are the most popular with investors as they were more affordable than two bedroom options but provided comparable rent.

Developers are meeting this demand by creating smaller properties based on clever, efficient layouts with a greater range of amenities.

CBRE is offering a range of 60 square metre apartments priced at $570,000 and above. These include balconies and built-in gardens and generate rent of between $650 and $700.

The properties are particularly popular with double income families with no kids who would like to be able to walk to work.

SPM is also now offering similar properties in Surry Hills. The apartments are close to Central Station and have a return of 5.5%, guaranteed for five years. People looking to downsize are also being targeted for the homes and their popularity is such that many properties don’t even reach the public market.

Source: http://smh.domain.com.au/real-estate-news/hot-demand-for-smaller-spaces-20130908-2tdv5.html