At a recent conference, PropertyESP heard from a young graduate who pleaded the need for diversity in housing within WA.
He spoke about starting out on a graduate salary, wanting to leave home but not wanting to pay $300 rent per week (because he was very rarely at home!) nor wanting to share a group home.
He introduced the concept of micro apartments, which start from just 30sqm and which are a part of most cities’ landscapes – except Perth.
For so long, councils have been opposed to smaller apartments as they are viewed as encouraging low socio economic groups into the community – but the reality is – these are also some of the most innovative housing concepts on a world-wide scale.
The idea behind micro-apartments is that they accommodate all the facilities of a normal apartment, such as shower, living room and bedroom, but their versatility and flexibility is where you really maximise space.
Demand in the Unites States is so great that developers can’t build these micro apartments quickly enough and has led to the Mayor of New York, Michael Bloomberg, seeking proposals from developers to construct micro apartments on city owned land that contain at least 75% of apartments ranging in size between 25 – 28 square metres.
And of course that makes them a highly affordable option, something that Perth is also lacking at present.
The added beauty of these kinds of apartments is that it caters to the sole occupant, which can then free up the 3-4 bedroom apartments and homes, close to the CBD for couples and families.
We can no longer make one style of product and hope it meets the needs of all Perth’s buyers. Choice is vital and micro apartments are one of the solutions which we would like to see heralded to WA.
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PropertyESP undertakes long term sales analysis to tell our clients about various property cycles. We are different from other companies. We like to get into the nitty gritty which then guides development decisions. Basically we make sense of property.