March 18, 2022
New Apartment Developments
New Apartment Developments
Sydney is one of the most rapidly growing cities in Australia as the city continues to evolve, fuelled by the combination of the reopening of the international borders and the open arm welcome for international students who are ready to take up residency in the city once again. With the recent influx of people coming back to the city and the eventual increased movement of people back into Sydney, now is an excellent time to invest in the thriving real estate market and more specifically, new apartment developments in Sydney.
Whether you’re looking for a residential development or something with a bit of mixed use, there are numerous options available for any investor with many new apartment developments available catering for different needs, whether these are inner city or more of a suburban nature.
There are two key reasons why new apartment developments are looking more and more like the perfect investment opportunity at the present time, with these being the record gap in house and apartments prices and an increase in demand due to international students and immigration.
Gap Between Houses And Apartments Prices
There’s no doubt that apartment living is on the rise across Sydney. This can be seen in the number of new residential and mixed-use apartment developments popping up all over town. While some Sydneysiders might lament the loss of another neighbourhood pub, there’s no denying that these new projects are injecting much-needed life into tired suburbs, and breathing fresh air into the city’s property market.
Recent trends have seen an increase in the gap between the prices of houses compared to apartments with this gap continuing to increase and making new apartments developments in Sydney an even more attractive investment opportunity. As the population density increases, the traditional house and land spaces have become more sparse due to the demand. This has driven the prices up with the average nationwide gap between houses and apartments being $240,500. The gap is magnified in Sydney, as houses are on average $523,000 more expensive than apartments.
With Australia imposing some of the toughest border restrictions in place for nearly two years as a result of the Covid-19 pandemic, the international borders have recently been reopened. The highly anticipated reopening will result in immigration numbers increasing back to pre-pandemic levels. With a total of 799,371 international students enrolled in educational courses in Australia in 2017 and with the majority of these residing in New South Wales (304,545), there was a significant demand on student accommodation with this being decimated as a result of border restrictions.
With the borders reopening and as international students start to return, there will be an increased demand for student accommodation, mainly in city and inner-city areas especially for new apartments developments. The increased demand for student accommodation will see a further increase in apartment and rental prices from their current costs. This will be evident in suburbs such as Waterloo, which is a prime location due to the proximity to major universities and education centres.
If you’re looking to take advantage of the increased demand for new apartment developments in Sydney and are looking for an investment opportunity in Sydney, look no further. HYG has plenty of options to choose from depending on your interest, whether it be residential or mixed-use apartment developments. Some examples of new apartment developments that would make some of the perfect investment opportunities are;
Located in the inner city suburb of Waterloo, the Botany Gardens apartment development combines spacious apartment living with street level retail opportunities. The complex consists of 136 apartments spread across three 7-storey buildings and combining “lush hunterland blended with a touch of inner-city Scandinavian design”. With such a central location, close proximity to key transport routes and the Sydney CBD, Botany Gardens is the perfect place to invest.
Located in the North Western suburb of Epping which is a key transport hub linking the greater North West to the Sydney CBD and other areas of the city, is The Ellery with 31 boutique apartments and a bustling retail space. Lying in close proximity to Epping’s bustling city centre and only120 metres from Epping train station “modern minimalism meets 21st century lifestyle”. As transport infrastructure continues to improve between the Sydney CBD and North West, and as the population of the area continues to evolve, the centre of Sydney expands outwards causing increased housing prices in the area. The Ellery apartments would make the perfect new apartments development investment property in the North West.
With the earlier to mid part of 2022 being a better time than ever to invest in apartment developments, Sydney is an excellent place to invest in real estate. Whether you’re interested in residential or mixed-use developments, contact us at HYG and let us help you find the perfect property opportunity. With many different types of developments underway at the moment and recently completed, there is a perfect apartment development for almost anyone to invest in.