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Apartments are nothing new, blocks of hundreds sometimes thousands of people can be found living in cramped living spaces around the world and naturally when people think of apartment buildings this is what they think of.
In New Zealand however the style of apartments are vastly different from those that can be found overseas. "Apartment NZ Style" is a term that is beginning to be used throughout the Real Estate industry (including developers and builders) to try and change the mind set of consumers. Often for first home buyers the dream of a renovated villa or townhouse (stand alone of otherwise) is simply unachievable due to many factors including but not limited to increased living costs, the stability of the economy and the reluctance of banks to lend. Apartments give these people an opportunity to take the first step on the property ladder; however they need not be worried that they are going to end up in a cell sized apartment with paper thin walls.
A good example of an "Apartment NZ Style" can be found in Grey Lynn on Great North Road. A set of three, set on three stories, these single levelled apartments offer open plan living, views as good as any others, ample communal garden area on the ground floor, a garage and off street parking for guests. What more could you want?
Type "Apartment NZ" into any Search Engine however and you will no doubt see that there are a wide range of offerings available from luxury to some more "traditional" style apartment blocks, although these are more likely to be found in the main cities rather than rural towns and suburbs as we so often see portrayed in American films.
Even so most of the more traditional apartments will have communal pool area, gyms and off street parking so one could hardly call living in an apartment in New Zealand "Slumming it"!So what do you pay for an apartment in New Zealand and are these "Apartment NZ Style" worth any extra then standard apartments? The short answer is apartments range from 200K to a luxury penthouse apartment with an asking price of 10 million. How much a property is worth is entirely up to how much you as a purchaser are willing to pay no matter how much any industry wants to put a spin on it. An apartment is a type of building â€" not a lifestyle!
If you are in the market for a new property whether it be for investment or for your first home don't discount the idea of an apartment just because of stereotypes. Go and have a look at some that are in your price bracket.....you might be surprised!
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