Some of Australia's most successful property developers are meeting growing demand for three-bedroom apartments, as more and more Australians make the jump to apartment living.

Harry Triguboff's Meriton apartments has lodged plans to build 239 units in Mascot, including one, two, and three bedroom units. Triguboff believes the market for three-bedroom apartments in the area is strong. Three-bedroom houses in Mascot attract rent of $700 per week, while three-bedroom apartments are renting for $900 per week.

Meanwhile in Melbourne at the luxury end of the market, Tim Gurner's decision to build fewer but larger apartments at his south Melbourne development has paid off. The development sold out in less than three days, generating $60 million. The project has more than 65% of apartments with two or more bedrooms, and above level four, all apartments are three bedrooms.

"There is talk at the moment of oversupply and that the local market has cooled, but I believe the luxury owner-occupier end of the market has only just stared to heat up," Gurner told The Weekend Australian.

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