In a recent research conducted by Master Builders and Y Research, Perth apartments proves to be a solid investment alternative, dispelling myths about an oversupply and high vacancy rates in apartments across the metro area.
The Master Builders & Y Research Perth High Density Apartment Market Report July 2015 found that vacancy rates in Perth apartments have actually dropped to just 3.4 per cent as more people take favour to high density living in the 5 to 15km band around the Perth CBD. *Source: Perthnow.com.au
This compares to the higher 4.5 per cent vacancy rates for other dwellings within 5km of the CBD and 4.9 per cent to the Perth Metro Market as published by REIWA in July 2015. *Source: Reiwa.com
Savvy investors with a keen eye for opportunity are already taking advantage of Perth’s favourable buying conditions with smart investment strategies such as Off The Plan Apartments purchases that allow investors to buy now at today’s prices and pay later when the apartments are fully completed and ready to be leased.
Perth’s apartment specialist John Woon from DevelopWise says, “We are seeing movement in the Off The Plan apartment market and developers are more willing to negotiate on the right deals, typically not seen in normal market conditions. I think that if you are looking to take advantage of today’s property market and buy an investment property, you would be doing yourself a favour learning about the benefits of buying an apartment Off The Plan and we can certainly help you to with that.”