Highrise apartments could soon be much bigger because of families

  • June 20, 2013
  • Darrin Leung
  • Investment

The trend in most big cities is for more and more apartment living. We abandoned the CBDs of our cities in the 50s and 60s as the car offered us the suburban dream but in recent years as the cost of petrol and house prices have gone up and the suburban sprawl has spread, more and more people are realising that inner city living has its charms.

This growth in inner city living has meant that developers have begun to cater for a wider range of inhabitants. In the old days apartments were built for singles and childless couples, meaning that they had two rooms at most but now we are seeing a growth in family sized apartments.

For example the developers at One Australia Avenue at Sydney Olympic Park have converted a number of floors of two bedroom apartments into family friendly four bedroom apartments and this trend looks set to continue.

Across the country real estate agents are reporting an increased demand for apartments with three, four and even five bedrooms and any developers that have got in on the bottom floor of this trend have found that all their larger apartments have sold out before the smaller ones.