Lighting up the inner city with next-level apartments and a wealth of amenities

Artist’s impression of Garden Towers at East Perth.
Camera IconArtist’s impression of Garden Towers at East Perth. Credit: Supplied.

Apartment living provides a low-maintenance, lock-up-and-leave lifestyle, as well as the simplicity that comes with being close to amenities, public transport and work.

Finbar Executive Director and Chief Operations Officer Ronald Chan said buyers wanted to spend more time doing the things they loved, rather than wasting time commuting.

He said spending time maintaining a house and garden was a concern for buyers and the idea of strata managers taking care of the maintenance, insurance and management of the building, as well as the amenities on offer, was appealing.

“Amenities within a development is one of the top three deciding factors gathered from our research, coming after price and location,” Mr Chan said.

“Not only does it add to one’s lifestyle but it’s an extension to an apartment, adding value and appeal to future buyers or renters.

“We are seeing great new ideas being implemented into new developments, for example the glamping nook up on the 36th floor and virtual golf at our Garden Towers development in East Perth.”

Designed to breathe new life into the historic East Perth postcode, Garden Towers offers a lifestyle of luxury with resort-style amenities, including a 21m heated swimming pool, games rooms, a gym, a meditation yoga room, a private cinema, a steam and sauna room, as well as a business lounge with Zoom pods.

Mr Chan said the appealing apartment living lifestyle was attracting a variety of buyers.

“We see a wide range of demographics, from first homebuyers to downsizers and investors, as well as families who live in regional areas buying an apartment as a base or holiday home,” he said.

“Additionally, with Western Australia’s borders now open to the world and the State Government stamp duty rebate incentive, we are now seeing an increase in foreign buyers, with Singaporeans being the predominant nationality looking at investing in apartments.

“Finbar continues to see repeat buyers investing in apartments, making up to 14 per cent of our overall sales.

“Apartments generally retain higher yields and attract young professionals working in the Perth CBD and international expatriates.

“Strata levies and sinking funds means the building is being managed for years ahead. The only expected consideration to an investor is the space within the apartment that requires attention.”

Perth was ranked the sixth most liveable city in the world by Economist Intelligence Unit’s The Global Liveability Index 2021, which ranks cities for their urban quality of life.

Mr Chan said WA’s strong economy, culture, healthcare, education, climate and close proximity to South East Asia made Perth one of the most liveable cities in the world.

“We are truly blessed with our multiculturalism and housing affordability compared to other capital cities,” he said.

Mr Chan said the WA apartment market was still emerging compared to the eastern states but the future looked good.

“According to REIWA data for the March quarter, apartments are making up only 19 per cent of sales versus house and land,” he said.

“According to Australian Bureau of Statistics data, Perth has the lowest proportion of new dwelling approvals for apartments at 11 per cent compared to Sydney at 38 per cent.

“We will see Perth’s appetite for apartments continue as population growth increases, and the influx of students will add to the already low rental vacancy rates.

“Perth has a bright future ahead with plenty of prime landholding ready for development within our inner-city area.

“Our state accounts for 10 per cent of the national population and has the third highest population growth over the past 10 years compared to other states.

“Perth’s density will grow, which will result in an influx of amenities to the area.”

Construction is underway at Finbar’s Civic Heart South Perth development, with completion estimated for late 2023.

A once-in-a-generation, 360-degree architectural landmark, Civic Heart South Perth will light up the south of the river skyline, offering luxury apartments, a bustling commercial precinct and world-class views with amenities to match.

Start your new life at Garden Towers – Finbar’s latest project coming to East Perth. Featuring 331 luxurious apartments, a future ground floor food and beverage precinct, a huge range of resort-style amenities and a rooftop deck with a private dining room, a sky bar and a one-of-a-kind private glamping nook.

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