There has never been a better time to consider investing in an apartment.
Australia’s changing demographic means there are more single and two person households now than ever before, while a continued rise in median house prices has led to a surge in demand for rentals.
These trends are evident across the country, but particularly in Adelaide where the rental vacancy rate is now the lowest of any capital city. The latest Real Estate Institute of Australia figures put Adelaide’s vacancy rate at just 0.6%, well below the national average of 3.1%.
Eighty Eight O’Connell Sales Director Georgie Taarnby said she had seen continued interest from investors in apartments of all sizes, but particularly ahead of the release of one bedroom apartments.
“Smaller apartments make for a safe and smart investment in a tight rental market, particularly as more singles and couples choose lifestyle over land,” she said.
“Whether they are young professionals or empty nesters, these smaller households are prioritising inner-city locations, quality amenities and ease of living when looking for a rental. Eighty Eight O’Connell offers all three, making it extremely attractive to potential tenants.”
Georgie said many buyers were choosing to invest and rent now with the intention of moving in later.
“The opportunity to purchase a city fringe apartment of this quality is simply once in a lifetime, but many buyers aren’t quite ready to make the lifestyle change,” she said.
“Instead, they are buying now to capitalise on the significant benefits – confirmed pricing in a competitive housing market, strong rental demand, ongoing depreciation – while allowing time to decide if, and when, they might move in themselves.
“A good investment is all about timing, and the time is now.”
Enquire now to make the most of pre-construction pricing, before construction commences in April.
You can make an appointment to visit the Display Suite here.