Why downsizers are looking sky high in Perth

High-rise residences like this are filling a gap in the market, offering downsizers the best of both worlds, suggests Sirona’s managing director, Matthew McNeilly

Why downsizers are looking sky high in Perth
The view from 28 Lyall. Image supplied

Traditionally on the hunt for house-and-land, Perth’s downsizers have been breaking new ground with a surge of interest in the high-rise market.

Sirona Capital have noticed the surge in buyer interest at their newest development 28 Lyall in South Perth, which they are developing in conjunction with Singapore-listed developer Chip Eng Seng.

They've had commitments to almost half of their 98 apartments in the 37-level Bates Smart-designed tower, with construction soon to commence.

High-rise residences like this are filling a gap in the market, offering downsizers the best of both worlds, suggests Sirona’s Managing Director, Matthew McNeilly.

“A lot of people in this market are finding that the perfect option to downsize is also an upgrade on the classic family home," McNeilly says.

"28 Lyall’s residences offer loads of space as well as the high-rise lifestyle features you’d struggle to find in a house – starting with the views.”

The near 100 sqm two-bedroom apartments are popular with downsizers, as are the 155 sqm three-bedroom apartments. They all feature engineered timber floorboards, kitchens fitted with European appliances, double glazed floor-to-ceiling windows and north-facing recessed balconies to take in the views.

The most apartments located on each floor is four, with some levels homing just two or three apartments.

It’s a deliberate choice which is part of the development’s ‘vertical village’ concept, says McNeilly.

“Owner-occupiers like the fact that they’ll know their neighbours – that’s partly why we’ve kept to a maximum of four residences per floor. They’re designed as private, luxury homes with a lot of space, but they’re still part of a tight-knit local neighbourhood.”

28 Lyall's location places it a five-minute walk from the Mends St Jetty and ferry service to Elizabeth Quay and the CBD.

The two-bedroom apartments start from $720,000

“Downsizers are a savvy market and they know how property works – they want a spacious two-bedroom or three-bedroom place that feels like home but which is also going to be a good investment for the future,” McNeilly added.

“Premium high-rise residences like this are hugely appealing because they promise excellent growth. There’s a lot of potential for those who take advantage of the window of opportunity with off-the-plan incentives.”

Eligible purchasers have limited time remaining to secure government incentives on off-the-plan residences. This rebate for pre-construction contracts is 75% of the stamp duty paid for purchase, up to $50,000.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and new developments across the country

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