In Australia apartments are generally cheaper than houses. Websites of the Australian Bureau of Statistics and the Real Estate Institute have many charts showing the median prices of houses and apartments in metropolitan areas and regional areas. Unlike house owners who own the land on which the house is built, apartment owners do not have ownership of the land.However, if the decision is made to buy an apartment as an investment property, then the following should help with the strategy.
It is also common practice for individuals to buy a single apartment in a complex rather than purchase the entire complex.
The Location of the Apartment
Whether buying a house or an apartment, the location is still an important consideration. The location will also depend on the type of tenant that one is planning to attract. For instance, an inner-city apartment with close proximity to public transport, restaurants and other entertainment complexes will be more appealing to singles and couples than an apartment in the outer suburbs. On the other hand, a young family will look for an apartment close to schools, parks and other facilities for young children.
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