Hot Melbourne

Market Insights
9 years ago
1 minutes

Increasingly Melbournians are opting for functional inner city living without compromising the creature comforts of high-end luxury. Who said occupants of quality, state of the art apartments don’t want to catch public transport to work or take a stroll to their nearest supermarket? The fusion of functional living with all the high-end trimmings is here to stay as consumers catch on to the benefits of pairing urban lifestyle with luxury.

Steller, the largest privately dedicated property developer and builder in the city of Glen Eira, has harnessed this trend and created apartment and multi-unit developments keeping up with consumer demand with high returns.

Melbourne has seen an increasing move against the grain of traditional property development thinking, or the ‘high-yield, low space’ apartment model. In response to this trend, Steller offers generously spaced apartments, with a luxury contemporary finish merged with functional urban environments. As part of its strict project selection process, Steller chooses location based on defined local council growth zones, proximity to public transport and major supermarkets. Uniquely it enjoys a 75 % owner-occupant rate.

Managing Director Nicholas Smedley said Steller’s philosophy was closely tailored to current market demands. With over $400 million of current projects and property selling fast, he said demand for Steller’s property has been high.

“The feedback we get has been overwhelming. Owner-occupants in residential apartments are increasingly looking to larger-style, functional living spaces closely connected with their local community.

“At Steller we merge urban living without compromising attention to detail and high quality finish,” said Mr Smedley.

Mr Smedley predicts the trend for lived-in, owner occupied apartments to continue well into the future given the current property climate.

“Our owner-occupants happily choose generously sized apartments because they recognise the property’s true value. They choose lifestyle and luxury and are always pleased with the affordable price.”