Property News

Apartment Living Growing Up And Out

5 February 2007

Residential buyers are becoming much more savvy and particular about their purchases, particularly when it comes to city apartment living. Now, not only do they want quality finishes in their homes, but they are also willing to spend more on that extra bit of space.

"It's a very knowledgeable market in terms of what apartments can offer by way of improving one's lifestyle," says David Cole, director at Buchan Group.

Cole says the trend is for larger, and less, apartments within developments. This is most evident in Melbourne and Perth, particularly on sites where developers have acquired quality land in quality locations. He says purchasers of these larger apartments are mostly owner-occupiers rather than investors. At Buchan Group's Lucient development in Melbourne, most of the buyers were experienced apartment dwellers wanting to upgrade to 'business class' apartments.

According to Cole, larger apartments offer not only larger living spaces, but also better quality. But is the market willing to pay more for these extras? "If the preparedness to pay for the extra quality wasn't there, the developers wouldn't be providing it. The developers are responding to a market which is demanding this level of quality," he says.

"So developers are obliging and we as designers need to respond accordingly. We're employing innovative design which responds in kind to this high expectation that the market is displaying."

But designing larger apartments can be a more complex job according to Cole because plans and designs have to provide flexibility for the buyer – the market wants spaces that are multi-purpose and that can open up. It can also be a challenge for architects to design floorplates that have access to natural ventilation and natural light.

To overcome these challenges, Buchan Group is experimenting with dual cores, which allows apartments to have views in both directions. It also allows natural ventilation to sweep through the entire apartment.

This causes apartments to be more rectangular, as opposed to the more traditional square shape. "The building can then be marketed effectively as two towers within the one development, even though they’re clustered in the one building form," he says.

This trend is illustrated in the company's Goldman development in Perth. There is just one apartment per floor, not just on the penthouse levels but on lower levels as well.

On the surface, the trend for larger apartments seems to go against the push from the government for urban consolidation. But Cole says these types of developments have been occurring in suburban areas, and they are still considered high density developments.

"Compared with [freestanding houses], 50 apartments on one site still supports the notion of urban consolidation."

Source: The Property Council