The Down Under has always been the flag-bearer of luxury living across the world. The modern ostentatious mansions, refurbished heritage homes exuding Victorian charm and majestic apartments in the cities have all added value to its prime property sector. Foreign investors and local high-net-worth individuals are pumping money into the domain, which has led to the rise in demand for trophy homes with each passing year.
While the metropolitan areas are highly sought-after for affluent and comfortable living, the inner cities are also following suit and making way for opulent dwellings. However, an interesting trend has been noticed lately by property experts. Most of the buyers are showing a preference for posh apartment homes. Earlier considered to be congested and claustrophobic, the units have morphed into well-appointed and deluxe living spaces.
Thus if you are interested in purchasing luxury property for sale in Australia, then you can take a look at the magnificent apartments in the inner cities to find the best ones. Several new apartment projects are mushrooming in these destinations that are rejuvenating old splendour into modern extravagance. Let us take a look at how these pieces of lovely architecture are redefining contemporary living in cities.
What Makes These Apartments Worth Millions
Located in world-class and most liveable cities of Melbourne, Sydney, Brisbane and Perth, these properties offer a classy oasis to luxury seekers. The stylish structures have transformed apartments into lavish abodes that appear plusher than any other house in the city. Loaded with abundant amenities and creature-comforts, these luxurious units boast of stunning interiors, modish facilities and elegance.
Keeping the feeling of community living intact, these projects are designed with affluence in mind and warmth in the heart. They are strategically located in highly developed areas and are at a walkable distance from entertainment zones, restaurants, cafes, shopping centres, neighbourhood parks, and public transport. The easy accessibility and proximity to the CBD make them one of the best-placed units in the inner cities.
These apartments are not cramped or house hundreds of residences. They have limited units which are expansive and offer a spacious resort-style living experience to city dwellers. The security features of these buildings are also up-to-the-minute and they provide every possible facility under the same roof to enhance comfort.
The penthouses are a crowning glory of these towers, which require lower maintenance and offer splendid views of the skyline of the metropolis. Most of the facades are inspired by ritzy hotels and posh living spaces from all over the world, which give them a unique flair and make them enticing. With so many offerings and advantages, there is little doubt that apartments have become the most favoured choice for luxury living.
Rightsizing for Super Rich Retirees and Young Families
The wealthy seniors are now moving towards rightsizing from downsizing, which allows them to live close to the city. The prime apartment units are smaller and easier to maintain. Also, the concierge service offered along with the apartment makes it all the more appealing. Buildings in Greater Sydney, Greater Melbourne and Gold Coast are fetching highest bids from active retirees and young professionals with families. Perth and Brisbane are the other top contenders in the segment with million-dollar deals taking place in the past few months. The range of transactions has been phenomenal with the price bracket falling between $3 million to $10 million.
The growing demand has led to the mushrooming of several such developments in inner cities. The supply will strive to meet the demand as various projects will get completed between 2020 and 2022. Sydney is still the top luxury market as the high-end apartments in the inner suburbs are offering affordability and opulence in abundance.
Also, units spread across the entire floor are becoming highly popular among the rising population of millionaires in the city. These individuals are looking for more bang for their buck, which becomes possible with more amenities and low-maintenance of the new heights in inner cities.
The Modish Amenities That Offer Value For Money
These apartments are like mini-hotels which have private dining halls and customised interiors that come with inbuilt wine cellars. The plush residences have swimming pools, rooftop gardens to ensure sustainable living and follow the eco-friendly norms. They have gyms, badminton courts, table tennis rooms, recreation areas and various other features. Some of the units come with floor to ceiling glass windows to take in the views of the sparkling skyline at night. The fully loaded kitchens are equipped with state-of-the-art appliances and fixtures which make them irresistible.
Various new next-generation structures are being built to create an immersive experience for the buyers that come with luxuries. These include walk-in wardrobes, separate laundry, private lobbies, massive chandeliers, ample parking, balconies facing beautiful vistas, exquisite wooden cabinets, voguish lights, and lavish bathrooms.
Most Favoured Destinations
The inner city and outer suburbs are becoming the hottest spots for investors as they are displaying a massive growth. Melbourne alone has hit the 5 million population mark. The Australian suburbs have leapt by 680% in the last twenty years depicting a marvellous capital growth. One such region is Harrington Park in south-west Sydney which is now selling properties in the range of $960,000. Another high-growth region is Kilburn in inner north Adelaide where the prices have soared to $434,400 along with Tyabb in Mornington Peninsula where the sellers are asking for $950,000.
Sydney, of course, rules the roost when it comes to offering the most breath-taking views and a spectacular skyline. Barangaroo is leading the way with a reported $100 million apartment on the market for sale. The carbon-neutral suburb will have environmentally-friendly features in its structures like solar lighting and water recycling. It will be all set and done by 2024 and will have a sizeable population of the high and mighty. Other sought-after suburbs in the country are Manly Beach, South Perth, Westmead, South Yarra, Redfern, New Farm, The Rocks, Erskineville and many others.
Inner cities are the new interest generating hotspots for wealthy investors as they are coming up with the most attractive and sumptuous apartment buildings. Thus if you are looking for a luxury property for sale in Australia, then you must focus on these structures to enjoy value for money, view from home, and myriad amenities within the premises.