Ways to Help Ensure Off-the-plan Apartment Resale Value
While some people might be nervous jumping into the off-the-plan apartment market, there are ways to help ensure resale value.
DKO interior designer Micheal Drescher said buying in a development that focused on retail and hospitality spaces on the ground floor was key.
“Quality commercial spaces at street level inadvertently maximize resale values as they provide convenience to prospective buyers and activate the spaces to inform people’s lifestyle choices and aspirations,” Mr. Drescher said.
“Commercial spaces also activate the street level of the building and that has a flow-on effect in establishing a vibrant and lively community.”
Mr. Drescher said Golden Age Group’s Sky One development in Box Hill (pictured above) was a prime example.
The 438-apartment development, designed by DKO, will sit above a three-level food emporium and health, wellbeing and beauty hub.
Communal features such as swimming pools, gyms, private dining rooms and outdoor terraces were other features that could help achieve strong results, Mr. Drescher said.
In terms of individual apartment design, Mr. Drescher said there were three key things to focus on. “Storage is highly regarded when it comes to apartment living,” he said. “This is even something that you can add in as a purchaser or change if you feel you need more and could include linen, laundry, built-in wardrobes, bathroom storage and of course kitchen pantries.”
Generously sized living and dining spaces were always a sought-after feature at resale.
“This will not limit your market and open it up to any number of living arrangements for the future,” he said. “Be it couples, small family units or friends living together, with good size living spaces all of these options could live comfortably in the space.”
Mr. Drescher said material finishes also impacted the property’s potential for long-term price growth.
“Natural materials used in Sky One are featured prominently throughout the apartments and communal spaces,” he said. “We consciously selected a classic and neutral palette of materials to allow for flexibility to the spaces and ones that will easily adapt to future changing uses and occupants.”