Luxury Real Estate Trends: Buyers Shift Focus from Mansions to Luxurious Apartments

Ayre Real Estate, a leading name in the real estate industry specialising in prestige Sydney City apartments, is observing a significant shift in buyer preferences over the past decade. The trend is moving away from sprawling mansions to oversized single-floor apartments that offer the conveniences of a family house without the hassle of extensive maintenance. This shift is particularly noticeable among those who have reached a certain point in their lives, seeking a new and more luxurious lifestyle.

According to Craig Donohue, Ayre Real Estate's Principal and Director, buyers are now looking for an ultra-convenient, ultra-luxurious lifestyle that combines the best of both worlds. They want to step away from large, high-maintenance houses while still enjoying ample space, modern amenities, and breathtaking views. Craig says, "These buyers seek to upgrade their living standards with access to building amenities, services, and prime locations close to the best restaurants, bars, shops, transport, parks, and scenic harbours."

"One area that has attracted immense attention recently is the Barangaroo precinct in Sydney, often regarded as the benchmark for luxury high-rise apartment living in Australia. The highly anticipated completion of the One Sydney Harbour tower in January has created a buzz among buyers eager to move into their brand-new harbour-front apartments. Those who missed out during the initial sales phase are now showing strong interest in securing similar properties, particularly oversized single-floor apartments, which are currently in high demand," said Craig.

Craig also emphasises that the boldest buyers are the most rewarded in this evolving real estate landscape. While some potential buyers struggle to visualise the finished product when looking at display suites and floor plans, many are increasingly willing to commit to off-the-plan purchases. This forward-thinking approach ensures they won't want to part with their prized properties once the buildings are complete.

"The transformation in high-rise development over the last decade is striking. Traditionally, only penthouses and sub-penthouses were substantial-sized offerings. Today, buildings feature more complex and diverse floor plans to cater to the growing demand for larger apartments. These innovative designs now encompass additional studies, second living spaces, spacious outdoor areas, and a range of luxurious amenities, including pools, spas, and outdoor barbecue areas," says Craig.

When it comes to international buyers, Craig advises that they are drawn to off-the-plan purchases, often making up a significant portion of this market. This year the team at Ayre Real Estate has witnessed a resurgence in international buying activity, which is expected to continue into the next year, indicating Australia's enduring appeal as both an investment destination and a place to call home.

Looking ahead, Ayre Real Estate anticipates a busy run-up to Christmas, a time traditionally marked by heightened activity in the luxury apartment market, especially in the Sydney CBD with many homeowners selling their larger houses to downsize into high-end apartments. Now is an exceptional time for buyers to invest in apartments with plenty of well-priced properties available. With economists predicting a future shortage of units in Sydney, Ayre expects that supply will reduce, and property values will increase by 5%-10% in the City and surrounding precincts.

About Ayre Real Estate:
Ayre Real Estate Sydney is an apartment-focused real estate agency of property experts who combine strategic insight and human experience to deliver exceptional results. The multi-award-winning agency and team aim to help their clients achieve their property goals by helping those they work with to grow personal wealth whilst enhancing lifestyle, and working within vibrant and connected vertical communities. Known as the Sydney City apartment specialists, they deliver apartment-focused services that are smarter and simpler, yet deliver beyond expectations for both owners and landlords while elevating the lives of the clients and communities they work in. ayre.com.au

For further information or to set up an interview, please contact:
Lisa Solomons @ 360PR - 02 9571 4448 / 0416 175 518 or lisa@360pr.com.au.