Apartment rents are rising in New South Wales – meaning apartment blocks are becoming more attractive to investors, according to CBRE.
CBRE agent Paul Grasso said he thinks apartment blocks and commercial property will be popular in 2024.
“This is the year of beds and sheds,” Mr Grasso said.
“With the consistent increasing of rents through the metropolitan Sydney market, we expect these blocks to be a hot ticket for the market.
SQM Research found that there was 16 per cent growth in unit rents over the past year, compared with 13.7 per cent for houses.
CBRE said this aggressive growth is expected to continue due to the housing shortage and apartment blocks present the perfect asset to capitalise on this trend.
