Well good on him at least for copping the first adopters price haha, hopefully you can put some stuff back where the city bulldozed to put carparks one day 😅 one apartment at time
The ironic (Or perhaps just interesting) thing is that apartments are supposed to be cheaper living because you don’t have a front or back yard.
It’s vaguely that here, if location is the same apartment is usually cheaper than a free standing house, but apartments are usually better located near public transport and amenities (the whole point), so there’s a slight premium for that.
The American description of apartments almost always coming along in the phrase “luxury condos” is perplexing (other than NYC, it seems)
In fairness, in Melbourne we also do not build many apartments. Far fewer than we should, mostly due to regulations and laws not being airtight around owners corporations, aka body corp, and conflicts of interest where the developer awards a building management contract before selling all the apartments… So people are a bit hesitant to sign up for that and apartment living is still a pretty foreign concept to most
The ironic (Or perhaps just interesting) thing is that apartments are supposed to be cheaper living because you don’t have a front or back yard.
They tend to be more expensive per sqft but smaller than a house you could buy. And there’s no mortgage, so you don’t need a big down payment to move in.
But apartment living in a private system means enriching a landlord first and foremost. That means whatever the actual cost of the space, you’re going to pay extra.
The American description of apartments almost always coming along in the phrase “luxury condos” is perplexing (other than NYC, it seems)
It’s just a marketing gimmick. The term doesn’t have any legal meaning, so everyone uses it to upsell their units.
Some of the dingest places I’ve lived have been billed as “luxury”.
Well good on him at least for copping the first adopters price haha, hopefully you can put some stuff back where the city bulldozed to put carparks one day 😅 one apartment at time
The ironic (Or perhaps just interesting) thing is that apartments are supposed to be cheaper living because you don’t have a front or back yard.
It’s vaguely that here, if location is the same apartment is usually cheaper than a free standing house, but apartments are usually better located near public transport and amenities (the whole point), so there’s a slight premium for that.
The American description of apartments almost always coming along in the phrase “luxury condos” is perplexing (other than NYC, it seems)
In fairness, in Melbourne we also do not build many apartments. Far fewer than we should, mostly due to regulations and laws not being airtight around owners corporations, aka body corp, and conflicts of interest where the developer awards a building management contract before selling all the apartments… So people are a bit hesitant to sign up for that and apartment living is still a pretty foreign concept to most
They tend to be more expensive per sqft but smaller than a house you could buy. And there’s no mortgage, so you don’t need a big down payment to move in.
But apartment living in a private system means enriching a landlord first and foremost. That means whatever the actual cost of the space, you’re going to pay extra.
It’s just a marketing gimmick. The term doesn’t have any legal meaning, so everyone uses it to upsell their units.
Some of the dingest places I’ve lived have been billed as “luxury”.