BOUTIQUE seems to be the buzz word in the apartment building industry with everyone wanting a piece of smaller developments.
And yet Melbourne’s growing population and interest from overseas buyers means that the city is home to a growing number of high rise buildings.
Are there any benefits of living in big developments or is it all negative?
Robert Gibson, 59, moved from a detached house into his high rise South Yarra apartment building, SY21, about 12 years ago.
Mr Gibson said he had some “trepidation” about moving into a big apartment block but his fears proved unfounded.
“The best part is the amenities — the pool, the gym, the big garden area,” Mr Gibson said.
“I wasn’t going to the gym regularly prior to moving to this complex but I am now.
“My life has dramatically improved but I didn’t realise how much it would.”
Mr Gibson, who is the secretary of his building’s owners’ corporation, said sharing maintenance costs was another benefit of living among a lot of people.
“The size of the body corporation means there are greater resources,” he said.
“We are able to share costs over the other 384 neighbours, which means that you can maintain the quality of the build and you can share the costs that occur as the complex ages.”
Robert Gibson is a regular at the gym in his apartment building. Picture Norm Oorloff
Engine Property Group managing director Andy Dawson specialises in managing owners’ corporations and facilities.
Mr Dawson said residents in big apartment blocks might be living in a larger community but they had a greater choice in amenities.
“In a bigger development your money goes further,” Mr Dawson said.
“It gets you more amenities like indoor and outdoor cinemas, barbecues, teppanyaki tables … services you wouldn’t be able to have in a house.”
ICD Property development manager Matthew Khoo, who is behind the city’s 632-apartment EQ Tower, said large scale developments would benefit urban planning and help reduce urban sprawl.
“Large scale development at the location of key points of interest, being the CBD and local hubs, reduces the reliance on this infrastructure,” he said.
However, Australian Institute of Architects Victorian chapter president Peter Malatt said larger developments had their drawbacks.
“The main advantages, especially of living in a tall development, are the views and the security,” Mr Malatt said. “But not all products out there are good.”
Mr Malatt said the institute had been lobbying for tighter regulations around ventilation and the size of apartments and balconies.
“The regulations around apartment dwellings are inadequate,” he said.
“People have to be very careful when they buy into large apartment blocks.
“What they should be looking for is an architect designed project … all bedrooms to have open windows … and adequately sized balconies.”