Beige or Black? What sells in a competitive market? Our Associates, Tanya Zealey and Dan Volpato spent several weeks assessing the apartment products in the Brisbane marketplace. Here is what they saw.
Gen Y have quickly become the target buyers and tenants for Investors. And they want more than mediocrity…….they want it all. The Gen Y purchasers are shunning the beige schemes in favour of more adventurous selections and being very choosy about what they are buying into. Developers are seeing that they have to be ahead of their competition and are rising to the challenge, value adding to their apartments to attract buyers.
Storage, functionality, character, and colour are high on the priority list for purchasers. Developers have had to react and step outside of the safety of the conservative schemes in response to the NCC and the changing face of purchasers.
Adventurous developers are exploring fresh ideas and materials that haven’t been seen before as the norm. Interest and contrast is the “new black” for an educated purchaser that understands quality of finishes and lifecycles of products. Communal spaces are being treated more like bars or cafes as a funky alternative to windswept pool terraces.
Buyers are expecting more for their money and with so many options and inclusions available for every product it’s become necessary to stand out from the crowd creatively. Selections of finishes are being carefully made to create a balance between contemporary and interesting. The emphasis on quality of brands has become more prominent from a developer servicing perspective and also by the educated purchaser.
Fish Lane Apartments by GDL group located in Melbourne St, South Brisbane are leading the way with interesting and slick schemes, spacious layouts and shared open air terraces on multiple levels. The unique design merges with the culture of the surrounds at ground level with retail opening up to activate Fish Lane.
The apartment market is getting up to date with product that we have used in the interiors of modern homes for years. Demand is meeting design and changing the face of buildings and interiors.
How can you apply these trends to your development?
1. Carefully considered or integrated joinery and furniture layouts as a part of the overall apartment design.
2. Don’t be shy about your green initiatives.
3. Consider all outdoor space that’s available to create clever semi-public outdoor rooms.
4. The use of wireless technology throughout buildings is demanded by the younger generation who live comfortably online so ensure your buildings address this and integrate it properly.
5. Explore finishes and fixtures apart from the typical. Many products out there solve practical issues, are cost effective and present the point of difference that sets you apart.
This fresh approach to architectural and interior design to deliver buyer and developer needs does not have to cost more. Clever design and selection even across the smaller apartments is what people are looking for. They want something new and they want it to feel new and well thought out. Hence individuality is back on the table. It’s a great challenge to have.
image by www.simonfinger.com.au