Big apartment units in the future. Will this trend work?

L

lamecrocs

New ?skyhomes? in Olympic Park offer alternative to traditional suburban family homes

The bedrooms are big enough to fit a king size bed and the living area is large enough for a grand piano.... Real Estate Institute NSW president Malcolm Gunning said ?larger European-style? apartments had been popular in the Eastern suburbs and lower North Shore for some time, but were now being developed in Western Sydney.
Click to expand...

Do you guys think the trend of large apartment units with 3+ bedrooms would be popular in Sydney and other places in AU?
I do see an upward trend for this as families want to live close to all the action and do not want to spend hours to commute due to the poor infrastructure in Sydney.
 
Would definitely be popular in the inner suburbs, especially if they came with sizable balconies/patios.

At the moment large apartments are so uncommon that the high price point lessens their value for money. A large, well-designed apartment will cost as much if not more than a house with a land component.

Presumably if they became more common, the prices would be less prohibitive. At the moment, a large apartment with a good layout and a view of more than a brick wall costs 1 million plus.
 
lamecrocs said:
New ?skyhomes? in Olympic Park offer alternative to traditional suburban family homes



Do you guys think the trend of large apartment units with 3+ bedrooms would be popular in Sydney and other places in AU?
I do see an upward trend for this as families want to live close to all the action and do not want to spend hours to commute due to the poor infrastructure in Sydney.
Click to expand...

I hope so as I have 2 x 3 bedders in my Highgate development. They are not large enough to hold a grand piano AND furniture but they are a good size for a small family especially as there is a park across the road.

Family apartments are popular in just about every country except for Australia :rolleyes:
 
It comes down to bang for your buck. Why pay for 300+ m2 of land which you can't build on ie many councils allow an fsr 0.4:1 - 0.5:1 on a standard residential block. So you can't build on half of it. Whereas the unit has 0 land component and you're getting 100% building.

Kids don't need backyards, that's just a mindset. They play xbox, online games etc noy cricket, footy or chasing. We live in a society too scared to let them out of our sight.

So the move to bigger units with better living areas is the way to go.
 
Went to a house party in my late teens in the high rise apartment block towering over St Leonards train station.

That 3 bedroom apartment was bigger than the house I grew up in, and the patio was larger than my backyard.

Gorgeous, quite as a whisper, must have had some very soundproof walls.
Don't see why a kid wouldn't want to grow up there, you could kick do what one would do at a normal house. Wana kick a ball around, go to a park down the road.
 
Scott No Mates said:
Kids don't need backyards, that's just a mindset. They play xbox, online games etc noy cricket, footy or chasing. We live in a society too scared to let them out of our sight.
So the move to bigger units with better living areas is the way to go.
Click to expand...

If there is a good council/community park nearby, kids can play there to their heart contents and dad doesn't have to maintain/mow the lawn. Win-win.
Then who pays to maintain the park? everyone in the area and it's cheaper compare to exclusive own backyard :)

My only concern is dealing with strata and body corporate. Anyone know how the high-rise apartment is maintained in other countries?
 
luckyone said:
What a gorgeous apartment! I notice is got the price range set as $1M-$3M. Any idea what it would go for?
Click to expand...

If it's so nice, why isn't it selling then?

I've seen the exterior but missed the open :)

Is the problem that it's selling at a luxury price but it's not exactly in a luxury location?
Granted yes it's in a prestigious suburb (randwick/coogee) but it's set on the main road. This cheapens the feel when you have all and sundry (inclusive of drunk yobbos) walking past your front door everyday.

From the main road, you can see right into the windows of the apartment = no privacy.

However, this house sold easily enough and it's on the same road.
http://www.realestate.com.au/property-house-nsw-randwick-113074895
 
This is the ground floor apartment in my project - they only get one car bay though but a front court and a nice big rear one

25gz22q.jpg


Park across the road (with a city glimpse)

jfdb11.jpg
 
Yea MTR, I'm still wondering how/why people want to pay 100+mil to stay in the apartment like this

I mean chance to get the 9/11 attack is quite high compare to individual landed property.
 
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