Why Invest In A Furnished Rental Apartment?
Many investors feel concerned due to the recent events in local and global equity markets and during these times of uncertainty they are taking a conservative approach – holding onto cash or investing in property.
A number of financial experts say it’s a good time to invest in rental properties. This is because the demand for rental properties has grown due to the increase in interest rates coupled with the current market’s volatility.
Now let’s take a specific look at Melbourne’s property market. Strong population growth and increased demand for apartment living has resulted in low vacancy rates and higher gross rental yields which is great news for investors.
It is projected Melbourne’s population will grow to 5 million with over 284,000 new dwellings to be built by 2030 to accommodate the demand.
Here are the important factors to consider when buying a new apartment for investment purposes.
Location – is your property close to Melbourne’s CBD, schools, public transport etc?
Average rent – what is the average rent and yield of similar apartments in the area?
Capital growth – what is the capital growth of the region you want to buy your apartment in?
Infrastructure – are there any changes to infrastructure or new developments that may affect the apartment you wish to purchase?
Population – check out the estimated population growth and demographics of the area.
Well furnished rental properties also generally attract higher rents which is why Ferrari Interiors’ customised apartment packages are in strong demand. Designed, delivered and installed down to the last cushion. Bernie and her team can come onboard to assist with a single room or provide a complete turn-key fit out.
For assistance with revamping your investment property please contact Bernadette Ferrari on 0417 088 602.