{"id":1211,"date":"2023-04-15T11:53:42","date_gmt":"2023-04-15T11:53:42","guid":{"rendered":"https:\/\/propertybureau.com.au\/?p=1211"},"modified":"2023-10-10T06:48:03","modified_gmt":"2023-10-10T06:48:03","slug":"are-apartments-a-worthy-investment","status":"publish","type":"post","link":"https:\/\/propertybureau.com.au\/blog\/are-apartments-a-worthy-investment\/","title":{"rendered":"Are Apartments a Worthy Investment?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1211\" class=\"elementor elementor-1211\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-05618df elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"05618df\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d12097b\" data-id=\"d12097b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44499c3 elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"44499c3\" data-element_type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/propertybureau.com.au\/wp-content\/uploads\/2023\/02\/buyers-agents.jpeg\" class=\"attachment-full size-full wp-image-917\" alt=\"\" srcset=\"https:\/\/propertybureau.com.au\/wp-content\/uploads\/2023\/02\/buyers-agents.jpeg 1024w, https:\/\/propertybureau.com.au\/wp-content\/uploads\/2023\/02\/buyers-agents-300x200.jpeg 300w, https:\/\/propertybureau.com.au\/wp-content\/uploads\/2023\/02\/buyers-agents-768x512.jpeg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b6f9c42 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b6f9c42\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f013cce\" data-id=\"f013cce\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8011e62 elementor-widget elementor-widget-heading\" data-id=\"8011e62\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Are apartments a worthy investment?<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5415894 elementor-widget elementor-widget-text-editor\" data-id=\"5415894\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span data-contrast=\"auto\">With the Melbourne property market being widely reported in the media as hot, it is wise to look a little more closely.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">While the sale of houses has seen good growth since the start of the year at\u00a0around\u00a08.9%\u00a0growth, the same can\u2019t be said for apartments coming in at almost half 4.7%.\u00a0 So why is this and should you <a href=\"https:\/\/propertybureau.com.au\/investing\/\">invest<\/a> in an apartment?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">There are\u00a0several\u00a0reasons for the slower growth in\u00a0apartments.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/b><\/p><ol><li><span data-contrast=\"auto\">Less investors in the market because of the lower levels of rental demand due to lack of international students\u00a0and less renter movement.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li><span data-contrast=\"auto\">Less overseas buyer demand.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li><span data-contrast=\"auto\">Lower interest rates are giving buyers the freedom to consider borrowing more and entertaining the idea of a house purchase rather than apartment.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li><span data-contrast=\"auto\">Years of oversupply due to large apartment complex developments across Melbourne.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><\/ol><p><span data-contrast=\"auto\">These factors should be a warning to all apartment buyers to ensure they are diligent about the selection of the asset they intend to purchase.\u00a0 The quality assets are more likely to buck the slower growth trend for apartments and can\u00a0still be a\u00a0worthy investment.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So,\u00a0<b>what\u00a0does\u00a0make a good quality apartment purchase<\/b> for either a home or investment property?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><ol><li><span data-contrast=\"auto\">Location is the key to any successful property purchase. With apartments, the location needs to be attractive to renters meaning a quiet side street, close to amenities such as public transport, shops, schools, major road links.\u00a0A street that has majority houses is ideal.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li><span data-contrast=\"auto\">Style of architecture. The fundamentals of any good investment\u00a0are\u00a0low supply and high demand and as such, buying into an architectural style that is not\u00a0prevalent and not being replicated is ideal.\u00a0Art Deco,\u00a0well maintained 50\u2019s, 60\u2019s and 70\u2019s blocks of apartments will give you the scarcity required.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li><span data-contrast=\"auto\">High land value component within the purchase.\u00a0 Most people mistakenly believe that if you buy an apartment, you are not buying any land.\u00a0 This is not the case. If you stick to older style\u00a0developments,\u00a0they typically are on larger blocks and have fewer apartments in the complex.\u00a0 This will give you a larger \u2018notional land value component\u2019 within your purchase price\u00a0eg\u00a0a block of 12, two bedroom apartments on a 1200 sqm block of land is essentially allowing for 100\u00a0sqm of notional land value for each apartment.\u00a0 Newer builds tend to be the exact opposite of this and therefore, will under perform as land is the main driver of capital growth.\u00a0 And remember, it\u2019s not the size of the land but the value.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><li><span data-contrast=\"auto\">Location within the complex.\u00a0 Not all apartments are equal even in the most beautiful blocks\u00a0in Melbourne.\u00a0 Prime position tends to be front or rear of the block and in an elevated, private, secure position with\u00a0abundant\u00a0natural light.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3aba413 elementor-widget elementor-widget-text-editor\" data-id=\"3aba413\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">If you can achieve\u00a0all\u00a0these criteria\u00a0when selecting your asset,\u00a0you have selected well and can feel comfort that your\u00a0property\u00a0has all the\u00a0right\u00a0factors in place to allow for prime capital growth.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">Having said that, the apartment market has been flat for several years.\u00a0 Savvy investors have been caught out having purchased what on paper is a great asset only to find the growth has been mediocre.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">In my opinion, the stagnant apartment market growth will turn around with time.\u00a0 When we see a return of overseas students, we will see a return of investors in the market.\u00a0 We will also have\u00a0<a href=\"https:\/\/propertybureau.com.au\/buying\/\">homebuyers<\/a>\u00a0priced out of the house market scaling back their expectations and considering an apartment purchase instead.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">This coupled with record low interest rates and a market that is proving tough\u00a0for house buyers,\u00a0should mean that investors\u00a0and homebuyers\u00a0flood into the apartment market boosting competition and therefore prices.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">So, my advice to apartment owners who selected well at the time of buying \u2013 sit tight, demand will increase and so will your growth.\u00a0 If you are not confident that your asset is quality, then I would recommend sitting tight\u00a0for now, but\u00a0having your property ready to sell\u00a0when there is more\u00a0demand, and the market is stronger.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">My advice to buyers in the market now, consider a top-quality apartment now as prices are relatively low and there are some excellent opportunities for growth if you are thinking long term.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">As Warren Buffet said, \u201c<\/span><span data-contrast=\"none\">buy when people are selling and sell when people are buying.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p style=\"font-size: 16px; font-style: normal; font-weight: 400;\"><span data-contrast=\"auto\">If you wish to buy or sell a property or would like a more thorough market update,\u00a0contact\u00a0our team at The Property Bureau on\u00a0<a href=\"tel:0408166944\">0408 166 944.<\/a><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-01e3ecc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01e3ecc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-25c147c\" data-id=\"25c147c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8160cb elementor-widget elementor-widget-global elementor-global-1326 elementor-widget-author-box\" data-id=\"b8160cb\" data-element_type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/propertybureau.com.au\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-theme-elements.min.css\">\t\t<div class=\"elementor-author-box\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/propertybureau.com.au\/our-team\/kristy-caskey\/\" class=\"elementor-author-box__avatar\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/propertybureau.com.au\/wp-content\/uploads\/2023\/10\/kristy-buyers-agent-melbourne-200x300.webp\" alt=\"Picture of Kristy Caskey\" loading=\"lazy\">\n\t\t\t\t<\/a>\n\t\t\t\n\t\t\t<div class=\"elementor-author-box__text\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/propertybureau.com.au\/our-team\/kristy-caskey\/\">\n\t\t\t\t\t\t<h4 class=\"elementor-author-box__name\">\n\t\t\t\t\t\t\tKristy Caskey\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t<\/a>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-author-box__bio\">\n\t\t\t\t\t\t<p>Kristy prides herself on making her clients feel welcome, understood and in safe hands from their very first meeting. With over 20 years' experience in the Melbourne property market it has taught her to ensure every \u2018i\u2019 is dotted and \u2018t\u2019 crossed and how imperative this is when transacting property.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Are apartments a worthy investment? With the Melbourne property market being widely reported in the media as hot, it is wise to look a little more closely.\u00a0 While the sale of houses has seen good growth since the start of the year at\u00a0around\u00a08.9%\u00a0growth, the same can\u2019t be said for apartments coming in at almost half [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":917,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are Apartments a Worthy Investment? - The Property Bureau<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertybureau.com.au\/blog\/are-apartments-a-worthy-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are Apartments a Worthy Investment? - The Property Bureau\" \/>\n<meta property=\"og:description\" content=\"Are apartments a worthy investment? 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