The residential landscape has certainly evolved as the push for an increase in urban infill continues to gain momentum with the rezoning of low-density areas to high-density.
In conjunction with this is the expansion of transport and commercial infrastructure. This ultimately limits the need for residents to transit to main city centres in the pursuit of entertainment, shopping and employment. In turn, this activates areas in close proximity to residential zones creating vibrant hubs within walkable catchment.
When looking at areas such as these, investors often find multi-level apartment style developments more attractive due to the ratio of yield versus the area of the land parcel. The yield (or number of units) in a residential apartment or class 2 development are calculated on the basis of plot ratio multiplied by the land area to provide you with the total building area. This can be identified via its zoning or provisions stipulated through a local govt structure plan, scheme or policy.
Even though funding costs are much higher due to the scale of an apartment or class 2 development, the potential return on capital can be quite substantial. Again, as in the multi-unit example the main gain is the static cost of the land versus the number of permissible units.
From a sales or rental viewpoint the developer finds the flexibility in accommodation configurations advantageous as they can appeal to a larger buyer demographic & socio-economic cross-section. Another beneficial factor is because of their multi-level nature, apartments generally take advantage of any available views in the vicinity which elevate their desirability.
Apartment Living has become a viable and affordable option for homebuyers wishing to be located closer to city precincts and in-turn less reliant on long-haul vehicular travel as a necessity.
At Devplex, we concur with the philosophy that good design is not a subjective idea but can be defined and measured
Instantly calculate the number of dwellings permitted to be built on your land.
*All information provided is subject to all relevant or local government approval.
Our experts are happy to answer all of your questions and find the best possible solution for the project you are working on.