On the rise

Apart­ments are now seen as a great value-for-money in­vest­ment.

Metro Magazine NZ - - Property -

Matt Baird, Auck­land projects man­ager There’s been a big shift since I started in prop­erty in the 90s. We’re now see­ing larger, more de­sign-fo­cused apart­ments and there are a lot more owner-oc­cu­piers. What’s nice to see is that to­day’s buy­ers are dis­cern­ing, they’ve trav­elled and have an ap­pre­ci­a­tion for how great apart­ment liv­ing can work. On top of that, the good de­vel­op­ers have got bet­ter and they’re re­ally meet­ing the de­mand of the pub­lic. They’ve un­locked new parts of the city such as Wyn­yard Quar­ter, the Viaduct and Brit­o­mart, which are great places to live, work and play.

Owner-oc­cu­piers ex­pect a qual­ity prod­uct with good ameni­ties. If they’re go­ing to sac­ri­fice 200 square me­tres for 100, they will, but only as long as it’s well de­signed and meets their touch points. As you can prob­a­bly guess, many of the high-end apart­ments — the ones with concierge ser­vices, cin­e­mas, wine cel­lars and pools — are be­ing sold to baby boomers who ex­pect high qual­ity in a good lo­ca­tion.

We used to have to sell peo­ple first on the idea of an apart­ment, then the apart­ment it­self. That’s just not the case any more. The city fringe re­mains pop­u­lar, and in the CBD the tower blocks of­fer a range of op­tions from en­try-level stock to high-end pent­houses — along with the views that we’d all like to en­joy with apart­ment liv­ing. There are great small-scale de­vel­op­ments in the sub­urbs, too, with de­vel­op­ers tar­get­ing sites on ridge­lines, so look for those sites if an apart­ment with a view is your goal.

The young pro­fes­sion­als we see con­sid­er­ing buy­ing an apart­ment are ask­ing them­selves, “Do I buy a house in the sub­urbs for the same price or do I get some­thing that’s smaller, is lockup-and-leave, and that means I can spend more time with my friends and less time in traf­fic?”

The an­swer to that is usu­ally to choose a great apart­ment — and there are plenty of op­tions.

Newspapers in English

Newspapers from New Zealand

© PressReader. All rights reserved.