Australia’s largest apartment developer, Harry Triguboff, is seeing strong demand for both new developments and completed apartment buildings, with the latter emerging as one of the more compelling opportunities in the current market.
Mr Triguboff said well-built, established apartments are often indistinguishable from new in both quality and presentation, while offering a clear pricing advantage. “Buyers are recognising these apartments are effectively as good as new, yet priced below today’s new builds,” he said.
All apartments are refurbished prior to sale, with upgrades such as EV charging helping meet modern living standards. Combined with competitive pricing, this is attracting both owner-occupiers and investors.
For investors, the appeal is straightforward: comparable rental returns to new developments at a lower entry price, resulting in stronger yields. Many apartments can also be sold with tenants in place, providing immediate income without leasing delays.
Unlike off-the-plan purchases, these established buildings remove construction wait times, allowing buyers to move in or generate income immediately, with the added confidence of buildings that have already been tested.
Mature landscaping and established communities further enhance their appeal, while apartments often offer more generous proportions than many new builds.
Mr Triguboff said strong demand has driven expansion. “We initially released one development to test the market, but interest has led us to release more,” he said.
Meriton has released four developments across North Sydney, Pagewood, Mascot and Zetland, totalling 792 apartments, with further releases planned. Established apartments have proven popular, while brand-new apartments continue to offer advantages such as stronger depreciation benefits.
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