Apartments – Are you looking for a new property on the market?

Apartments are nothing new, blocks of hundreds, sometimes thousands of people can be found living in cramped quarters all over the world and naturally when people think of apartment buildings this is what they think of.

In New Zealand, however, the style of apartments is very different from those found abroad. ‘NZ style’ apartments is a term that is starting to be used throughout the real estate industry (including developers and builders) to try to change the way consumers think. Often for first-time homebuyers, the dream of a renovated villa or townhome (detached or not) is simply unattainable due to many factors including, but not limited to, rising costs of living, stable economy and the reluctance of banks to lend. The apartments give these people the opportunity to take the first step on the property ladder; however, they need not worry that they will end up in a cell-sized apartment with paper-thin walls.

A good example of a “NZ style” apartment can be found at Gray Lynn on the Great North Road. A set of three, located on three floors, offers single level apartments with open plan living, views as good as any, large ground floor community garden area, a garage and off-street parking for guests. What more could you want?

However, type ‘Apartment NZ’ into any search engine and you will no doubt see that there is a wide range of offerings available, from luxury apartment blocks to more ‘traditional’ style apartment blocks, although you are more likely to find in the main cities. than rural towns and suburbs, as we so often see portrayed in American movies. Still, most of the more traditional apartments will have a communal pool area, gyms and off-street parking, so you could hardly call apartment living in New Zealand ‘slum’.

So how much do you pay for an apartment in New Zealand? Are “NZ style” apartments worth more than standard apartments? The short answer is that the apartments range from $200K to a luxury penthouse with an asking price of $10 million. The value of a property depends entirely on how much you as a buyer are willing to pay, no matter how much the industry wants to spin it. An apartment is a type of building, not a lifestyle.

If you’re looking for a new property on the market, whether it’s for investment or your first home, don’t dismiss the idea of ​​an apartment just because of stereotypes. Go and take a look at some that are in your price range, you might be surprised!