It comes as unit living shapes into a growing reality for Sydney residents, with about half of the city population expected to live in apartment and townhouse complexes by 2040, according to NSW Government forecasts.
PropTrack figures over the past 12 months showed units accounted for 47 per cent of all dwelling sales in Sydney.
As we move towards vertical villages, developers have been upping their game by packing more expensive lifestyle amenities into their residential buildings.
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Waterfront Estate in Wentworth Point has prices as low at $485,000. The building has indoor and outdoor pools, a gym; and fitness classes.
Waterfront Estate in Wentworth Point also has tennis courts.
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These bells and whistles often come with high price tags for newly-built communities, but Sydney is home to a number of rare real estate unicorns where apartment blocks with resort-style features have entry prices under half a million.
Jeremy Deviesseux of Ray White Wentworth Point is currently marketing a one-bedroom unit with parking for $485,000, while other units in the same complex are listed for under $600,000. Located in the Capri building of the Waterfront Estate, residents have access to indoor and outdoor pools, a fully equipped gym, tennis courts, fitness classes and a steam room.
the ‘Monarco Estate’. in Westmead has homes priced under $500k and the building includes: resort style swimming pool, spa, gym, tennis court, BBQ area.
Deviesseux has sold multiple apartments in the 20-year old complex over the past 17 years.
“You’ve got lush green surroundings, it’s a safe, clean environment with a fabulous community feel. Everything is accessible from here and the apartments are well spaced out so you aren’t overshadowed by your neighbours. People always say ‘Wow I didn’t even know this was here!” he said, adding that the neighbourhood also has 35km of bicycle and walking tracks along Homebush Bay, a ferry wharf, and a free shuttle to ferries or Rhodes Station.
Currently in the midst of a makeover, Deviesseux pointed out that apartment owners in Waterfront Estate were facing a temporarily elevated strata bill.
“But we have reflected that in the price.”
This Pyrmont unit in the Goldbrough building sold for $525,000. There is 24 hour concierge, a heated pool and spa, and gym.
Owner Mailie Gall purchased the 74sq m unit as a first-home buyer in 2021 and is still so keen on the area she’s upsizing and buying off the plan nearby in Wentworth Point.
“We just needed more space, that’s the only reason I’m leaving. I absolutely love that apartment and that building. It’s such a beautiful community feeling, everybody’s smiling in the lifts and getting to know each other,” she said.
“I’ve lived in a lot of different places, but at Wentworth Point it’s like you’re living in a resort everyday. The pool and gym are fabulous and it’s all included in the strata, which I think is a great saving if you think about paying for those things out of pocket.”
Mailie Gall, at Wentworth Point, where she owns an apartment. Picture: Justin Lloyd.
Tariq Jameel of McGrath Parramatta has previously sold several units in Westmead’s Monarco Estate community, where he said purchasers seek out bang for their buck. Currently, Jameel is marketing a two-bedroom apartment for $650,000 in the four-building complex.
“A lot of first-home buyers buy in this building. They see it not only being great value for money, because they pay no stamp duty for it, but because of the feeling of community. There are two tennis courts, a gym, sauna, spa and 24/7 security,” he said.
Units in the One Central Park complex in Chippendale include 24-hr concierge; intercom entry plus secure lift access; plus there’s a heated pool with sundeck plus spa and gym.
“These apartments are probably about $30,000 to $40,000 more than others in typically smaller blocks, but people are happy to pay that when they get a feeling of community and all these amenities.”
From inner Sydney to the outer-ring suburbs, sales of apartments in high-amenity buildings have shown prices fall well below the Sydney unit median of $815,000. A one-bedroom unit in One Central Park with a heated pool, spa and gym recently sold for $550,000, a one-bedroom in Skye by Crown North Sydney with an infinity-edge pool, rooftop gym, function room and concierge fetched $580,000 and the Southbank community in Wolli Creek has a pool and gym with a one-bedroom apartment selling for $490,000 late last year.