SCALING APARTMENT BANG FOR YOUR BUCK

SCALING APARTMENT BANG FOR YOUR BUCK

LOWER price tags on off-the-plan apartments might not mark money well spent for property buyers, according to developer Mosaic Property Group.

Managing director Brook Monahan says those looking to buy an apartment off-the-plan should consider the floor plan size and price per square metre to evaluate the true value of purchase, instead of deciding on price alone.

"You may think that two apartments listed in the same suburb at a similar price point with the same amount of bedrooms and bathrooms would be of equal value, but you should never assume that two dwellings priced the same are comparable in quality or size," Monahan says.

"Buyers shouldn't assume anything from just the listed price, as the gross rate per square metre is the key metric to logically compare value between developments, which is something that buyers need to focus on while looking to purchase an apartment off-the-plan.

"It is also crucial to compare the property's location within a suburb, the quantum of inclusions as standard, as well as the quality of fixtures and finishes provided within the apartment, as these can also differ dramatically depending on the developer.

"For this reason, buyers should ensure they only purchase from a reputable developer with a proven track record in delivering the same or similar quality fixtures and fittings, as those originally promised off-the-plan."

Monahan says Mosaic Property Group's gross rate per square metre of their latest project Liberty by Mosaic shows the benefit and market demand for larger apartment designs.

"Our focus has always been on delivering luxury apartments with larger floor plans and high quality finishes at a competitive price point," he says.

"Liberty by Mosaic represents the best value for money (rate per square metre) when compared to neighbouring projects in Upper Mount Gravatt, with each apartment boasting floor plans up to 20 per cent larger than surrounding developments in the area.

 

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Golden handshakes to departing ASX100 CEOs hit 12-year high

Golden handshakes to departing ASX100 CEOs hit 12-year high

Around one in every six CEOs of ASX100 companies left their job&nbs...

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

Maggie Beer Holdings CEO Kinda Grange resigns just 16 months into the job

The revolving door of leadership at Maggie Beer Holdings (ASX: MBH)...

Dreamworld owner reports improved ticket sales despite severe peak season storms

Dreamworld owner reports improved ticket sales despite severe peak season storms

The owner of Gold Coast theme parks Dreamworld and WhiteWater World...

Peter Farrelly's action comedy Balls Up starring Mark Wahlberg to be filmed in QLD

Peter Farrelly's action comedy Balls Up starring Mark Wahlberg to be filmed in QLD

The Australian film industry continues to attract Hollywood product...