DOWNSIZES DRIVE LUXE LEANINGS
Spacious apartments in established suburbs have a ready market.
Downsizing has become an established feature of the property market and a strong factor in its prevalence is that downsizers want to stay in their area with friends and familiar surroundings. They want to be free of the upkeep of a large family house and garden and move into an apartment or townhouse that offers all the style and amenity – or more – of the previous house, is secure and low-maintenance and still has space for entertaining and grandchildren.
Paul Franze, developer of The Alexandra at 56 Cotham Road, Kew, says there is a shortage of apartments that suit downsizers requirements. “We ran a marketing campaign for The Alexandra and almost every inquiry was in the $1.5 million to $2 million range.” he says. “There is a strong demand for luxurious, spacious apartments in the established suburbs.”
Featured in The Saturday Age Autumn Apartments Guide – View or download the article