This is one of the most common questions I am asked. And yes, they certainly are. One bedroom apartments are gaining in popularity, largely due to the increase in Gen Y numbers renting, the question is what constitutes the right one-bedroom apartment as an investment property?
There are a number of essential factors that make an apartment appealing to Gen Ys and it is this formula that we concentrate on perfecting at Calla Property.
Ideally, this generation of urbanites is after interesting architecture, tree lined streets and lots of lifestyle amenity, within about a ten-kilometre radius of the CBD. Areas basically that attract high paid professionals, not too close to the office, but an easy trip home. Inner suburban locations, where demand has historically outweighed supply and there is little or no developable land left.
A building with character or design features will win hands down to generic looking blocks.
Smaller, boutique blocks are well sought after and in general, perform much better than large, multi-storey towers in regards to long term values. There are too many of the tall monstrosities to create that scarcity factor and ultimately that underpins above-average growth.
4. Amenity and Infrastructure
Modern living is all about being close and involved with colourful life. The right investment apartment is close to all the things that young people want and need. Abundance of cafes and good food, retail outlets, entertainment precincts and public transport links.
The key to an attractive one bed apartment is open inviting spaces and an abundance of natural light. There needs to be plenty of storage space, a decent sized separate living area with a good flow to the layout and of course a balcony that begs an alfresco entertaining.
Where is the apartment situated within the complex? What floor is it on? Is there easy access for moving furniture in and out? Consideration must be given to light, outlook, security and access and of course noise. Who wants to live on the second floor above a train line or breathing in the fumes of a busy highway? Modern lifestyle is clean and green.
7. Car Space
Having one on title will increase your investment significantly and can make it more appealing to a wider range of tenants.
Great views increase the appeal of an apartment substantially and therefore raise the price tag, rental returns and tenancy longevity. City views, water views, leafy parklands and well manicured on site gardens can all command a premium. And research into potential plans for nearby buildings that may obscure views is essential.
To sum up… the right one bedroom investment property must be of great appeal to the modern generation of city dwellers. Light and breezy, spacious and inviting and location location location!
At Calla Property we do a great deal of research and carry out an enormous amount of due diligence to ensure we keep abreast of the market so we can show you the best possible properties for investment, in the most ideal locations that will provide good yields and above-average long term gains. We select properties based on capital outlay, ongoing cost and ongoing income from rent. Our property selection is based on stringent research findings. But most importantly, we are passionate about helping our clients succeed which is why the majority of our clients build their portfolios based on our recommendations. So what are you waiting for? Your future starts now. 02 9016 2852