market insight

Over the past few years, we have seen a steady increase in empty nesters and working professionals looking to downsize their home without having to compromise on the luxury or lifestyle they are accustomed to.

Offering the lifestyle convenience of parks, gardens, restaurants, cafes, shopping and transport, Melbourne’s city suburbs are becoming a popular choice for these buyers and will become even more highly desirable as further gentrification and urban renewal is undertaken.

As the older owner-occupier buying demographic continues to become more active, local developers are responding by building oversized apartments with all the luxury features of a suburban home - with the added convenience of low-maintenance living and hotel-style amenities. The size, aspect and quality of these apartments is imperative, with expansive living areas offering flexible floorplans for living and entertaining, plus bespoke inclusions such as walk-in pantries, custom cabinetry, fireplaces and integrated electronic furnishings.

According to Lucas Sales Director Chris Henson, “larger apartments are becoming increasingly sought-after by buyers looking to owner-occupy. Well-appointed two, three or even four bedroom apartments are in high demand, particularly larger style homes with two car parks and outdoor living. These properties present a great option for time-poor owners or those seeking a ‘lock-and-leave’ lifestyle. Buyers are loving their new-found quality of life and enjoying being so close to the city.”

To find out more about how you can downsize to apartment living or for assistance in purchasing your next home, contact your local apartment experts on 03 9091 1400.