Do Aussies now prefer shared living units like condominiums and apartments than larger, standalone houses? In a report revealed by Australian Bureau of Statistics, the total approval for applications for apartment and units in Australia has hit its highest in 2013 – an indication that shared living is becoming more popular across the country. This is especially true in larger and more expensive cities.
Convenience Over Anything Else
The convenience that inner-city living provides – upscale facilities, close to workplaces, less travel time – is one factor that make high-rise condominiums, apartments, and townhouses a more appealing option now for modern Aussies.
These are also relatively affordable considering that they come in diverse options in terms of styles, floor plans, square footage and costs. The associated perks with shared living makes life easier for people who choose this, often giving them access to a lifestyle they want and more.
There is also its potential for property investment, which is a stark contrast to the notion that there is no value about shared-housing market. Whether a person buys a Brisbane apartment for sale or multiple units, such a purchase provides an income opportunity through renting it out. Not only are these low-maintenance units, but also come with simplified management.
With the popularity these units are holding now, the more apartments and condos prove to be good investments. Reviewing homeowners association rules and policies is important because it can make or break an investment.
Indeed, it’s the whole new lifestyle that shared living offers that make it an attractive housing option, especially to single working adults and young couples. It is where the choice of home is driven by the lifestyle desired (and other possibilities based on added value) and convenience over affordability.
Young couple at their 20s or single working adults who wish to downsize or have no time to maintain a larger, separate house will find apartment units in Brisbane a good choice for them.