Apartment living soars in popularity
Auckland buyers are steadily switching their mindsets from the ‘quarter acre Kiwi dream’ they grew up with, to the realisation that more compact properties are the way of the future. Linda Miller takes a look at the rapid rise of apartment living and how
“People who had always envisioned a certain lifestyle and property purchase before are now seriously considering the alternative of apartment living.”
This is the well-informed view of Darren Brown – the managing director of the sugar tree apartments located on Auckland’s city fringe.
Demand for high quality and affordable apartments in Auckland’s CBD has boomed since sugar tree was introduced to the market five years ago, with buyers from all walks of life now recognising the benefits apartment living can bring with it.
“There has been a real transition from the low-quality ‘shoebox style’ apartments that were prevalent in the 1990s and early 2000s into a higher quality build, which replicates the community atmosphere you would usually associate with a life in the suburbs.”
New Zealand’s “new wave” of developments has been inspired by the success of apartment living in some of the world’s top destinations like New York, London and Sydney - with sugar tree’s urban village design leading the way. It places everything you need to live, work, play and relax right on your doorstep with the ground level of all three buildings dedicated to boutique shopping, bars, eateries, retail, commercial spaces and even an on-site childcare centre.
sugar tree brings the suburbs into the city thanks to its large communal areas, including a rooftop terrace with café, bar and panoramic city views, which will be open to all residents and their guests. It also incorporates generous green spaces with attractive plantings and room for the kids to play – all without any maintenance required from buyers.
The development consists of three stages – Prima which is now settled and occupied, Centro which is partway through construction and Altro – the final stage which is being sold off the plans now, with building set to begin in early 2017.
“While around 60 per cent of Altro’s apartments are already sold, there are still some great options remaining in all price brackets,” Darren says.
“We recommend coming in and looking at the plans now – you get the opportunity to lock in today’s pre-construction price with just a 10 per cent deposit and the remainder of your payment not due until completion in 2019, allowing you more time to save.”
Buyers at sugar tree also appreciate the developer’s proven track record for completing quality builds – which you can experience in person by viewing not only the concept models and drawings in the show suite, but also a completed Prima apartment.
‘This means you are not only looking at the pretty pictures and plans of what your apartment will be like, you can see a tangible result and feel confident that what you sign up for is exactly what you will get,” Darren explains.