Recent research conducted by the Australian Apartment Advocacy with 3312 apartment owners nationally, shows that QLD outstrips the rest of the nation with 32 per cent moving into their apartment because their kids had left home (compared to the national median of 21 per cent) and with 37 per cent classified as retirees. 

While 91 per cent chose their apartment because of its location, 72 per cent said that they liked that their apartment was close to the beach/river – again showing a clear difference to the rest of the nation, that was more focused on being close to public transport.

However, on par with the nation, owners bought an apartment because it was easier to maintain (62 per cent) and it was the right size for what they needed (60 per cent). 

At a glance:

• Queensland outstrips the rest of the nation showing 32 per cent move into apartments when their kids move out.
• 72 per cent said they liked their apartment close to the beach/river
• 91 per cent chose their apartment because of location

Samantha Reece, Director of Australian Apartment Advocacy said that lifestyle was a strong focus for Queensland apartment owners.

“Not surprisingly, 68 per cent of respondents had an outdoor pool in their complex and 63 per cent had barbecue facilities which is also the highest in the country," said Ms Reece.

Ms Reece said that while this market was geared for downsizers, developers had to be aware that these buyers were only really seeking to downsize from the burden of a garden.

“These are residents who are used to large homes and they still want to feel like they have space in their apartment to accommodate grandkids and guests, hence the design needs to reflect these needs.  

“But in saying this, 98 per cent are satisfied with their apartment and 67 per cent would recommend it which indicates that these residents are enjoying the freedom that apartment living provides,” said Ms Reece. 

The research also showed that 22 per cent of investors in the QLD apartment market were based in NSW and that 92 per cent of these owners felt that their apartment values would improve over the next 10 years. 

In conclusion Ms Reece said that the QLD apartment market was unique to the nation.

“As would be expected from the fact that QLD has a warm climate with a magnificent coastline, owners are keen to maximise that lifestyle and are seeking an apartment that takes advantage of those factors and meets their criteria.

“It is important that developers keep this in mind when they plan the design of the apartment, its amenities and of course the resulting price point,” Ms Reece said. 

South Brisbane real estate agent Michael Hatzifotis of Place Real Estate, Kangaroo Point agreed with the findings.

1410_grey_st_south_brisbane_1.jpg

1410/289 Grey Street, South Brisbane is on the market through Place Real Estate. Photo: Luxury List

"Many of my clients are down-sizers who don't want gardens but definitely want views," said Mr Hatzifotis to WILLIAMS MEDIA.

"They want a north-easterly aspect in their apartments that is facing the city and rooftop pools are very important."

When it comes to the inside of the apartment, his cashed up clients are looking for brand new or at least 2-3 years old.

"80 per cent of my clients have sold their large homes and are ready to go, or don't need to sell to buy."

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