Off the plan apartment purchasers in NSW were asked by the team at realestate.com.au about what were the most important amenities for them. Additional storage in the form of a storage cage (28 per cent) came in at number one, barbecue, landscaped gardens or decks (27 per cent) came in second and fully equipped gyms (26 per cent) came in third.
The recent affordability issues in the Sydney market has forced a dynamic shift in the thinking of developers, investors and potential apartment of off the plan buyers, with one of the biggest shifts being who is now looking at apartment living. The list now includes downsizers, first time buyers, investors and upsizers – being the middle age group of families with kids – are all considering apartment living so they can afford to live in the suburb of their choice and avoid lengthy travel times.
First home buyers who are typically younger are after more of the activity based amenities, and are looking for gyms (32 percent), followed by gardens (30 per cent) with a pool (26 per cent) coming in third.
Upsizers wish list includes a pool (36 per cent) followed by gardens (29 percent) and a 24-hour concierge (27 per cent).
Downsizers are generally seeking smaller more boutique style developments that include a storage cage (51 per cent) gardens and barbecue areas (41 percent) followed by a pool (28 per cent).
Not too surprisingly, investors surveyed were looking for storage cages (29 per cent), then gardens and barbecues (28 per cent) and heated pools (24 per cent), which traditionally was what’s been offered in the off the plan apartment market space.
Sustainability was another feature desired by potential buyers of off the plan apartments with five-star energy ratings gaining favourable results along with noise cancelling technology.
This research can also be applied to those considering smaller medium density housing developments where getting the mix right for potential purchasers will need to include somewhere to store the golf clubs, green spaces to relax and entertain in, ensuring you don’t have to listen to your neighbours with possibly a pool to cool you down on those hot days.