Apartment Size

According to a report from the Melbourne City Council&rsquo;s planning department, the ongoing trend in the City of Melbourne was&nbsp;for increasingly small apartments, with 40 per cent having less than 50 square metres, the recognized minimum size of a one bedroom apartment in Sydney.

At the time of the late 2016 report, some two bedroom apartments were&nbsp;being marketed or proposed in the municipality that are of a similar size to that of one bedroom apartments in other cities.&nbsp;

Previous&nbsp;Institute of Architects Victorian president Peter Malatt has said, &quot;developers are building apartments that are uninhabitable; they&#39;re not restrained by any regulation; they&#39;re maximising profit.&quot;

Sydney&#39;s larger apartments consistently yielded much higher returns for investors, he said.

With larger apartments yielding better returns, Urban has picked out four developments that beat the trend and the Melbourne apartment size average without breaking the bank.

<h2>1. Queens Place</h2>

One-bedroom apartments from $439,600

[smartcode_project:default project_id=2806 project_image_fid=175429]

Developer 3L Alliance $1 billion twin tower development, Queens Place, rises 70 stories as one of the Melbourne CBD&#39;s largest residential developments.

Packed with resort-style amenities and rarities like childcare facilities, the&nbsp;one-bedroom, one-bathroom, one-study apartment in Queens Place is a sizable 62 square metres, starting from $532,400.

Situated at 350 Queen Street on the fringe of Flagstaff Hill, the development&nbsp;has been collaboratively designed by renowned&nbsp;architects from Fender&nbsp;Katsalidis and&nbsp;COX Architecture, with interiors by&nbsp;Hecker Guthrie.

<h2>2. Voyager</h2>

One-bedroom apartments from $601,500

[smartcode_project:default project_id=3494 project_image_fid=89073]

Mirvac&rsquo;s&nbsp;Voyager tower is the ninth completed tower in Yarra&rsquo;s Edge master plan community.

A one-bedroom, one-bathroom apartment is 63 sqm, more than 20% larger than the median, according to the data.

The $300 million, 315-apartment development on the&nbsp;Docklands&nbsp;waterfront&nbsp;rises 130 metres and is home to a sweeping range of facilities, including&nbsp;a resident sky deck, dining room and bar, hanging gardens, 270-degree skyline views and a cinema and karaoke room.

Contemporary apartments and a number of resident-only amenities have also encouraged investors to purchase into the development.

<h2>3. FOCUS Melbourne</h2>

One-bedroom apartments from $499,000

[smartcode_project:default project_id=3260 project_image_fid=62316]

FOCUS Melbourne at 75 City Road, Southbank, is the product of a partnership between Central Equity and Doig Architecture.

Set for completion in 2022, the 50 level building will comprise 592 one, two and three bedroom apartments. The one-bedroom apartments are 55 sqm at their smallest and are the most affordable one-bedders over 50 sqm on this list.

FOCUS Melbourne boasts a range of amenities, including a 17-seat luxe movie theatre, an expansive indoor/outdoor barbecue and social dining area, as well as lifestyle facilities including a pool, gymnasium and sauna.

<h2>4. St Boulevard</h2>

Two-bedroom apartments from&nbsp;$725,000

[smartcode_project:default project_id=1260 project_image_fid=177987]

While the one bedder&#39;s have sold out at St Boulevard, their&nbsp;two-bedroom apartments are larger than much of the competition. Two bedders range from&nbsp;72 sqm to 86 sqm, a size up from the 66 sqm median for two-bedroom apartments, according to the last available data.

For a limited time, St Boulevard is offering buyers a suite of incentives on completed one and two bedroom apartments in their Magnolia, Ginko and Anaca apartment towers.

Monetary incentives include a 5% deposit match and covering the first year of owners corp&nbsp;fees.&nbsp;St Boulevard, developed by The Shakespeare Group, is also offering a white goods package and a $12,000 Coco Republic furniture voucher.

Peter Malatt has said that developers are building apartments that are uninhabitable; they're not restrained by any regulation; they're maximising profit.



jordan_55689

Four new Melbourne city apartments super-upsizing the competition

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There's no doubt that after location, it is the number of bedrooms and bathrooms that fundamentally determines the selection of an apartment to buy.
The aspect and view become important once you are inside.
The standard of fitout certainly comes into play in any pricing.
Over recent times apartment size has become a mild influencer as Sydneysiders embrace the purchasing reckoner that's more common in other international cities, especially across Asia. 
Calculating the per-square-metre price of apartments has emerged - especially for off the plan acquisitions - as a way to evaluate market value as it has been long done say at The Peak in Hong Kong.
Australia has typically used median apartment data in our calculations, and this has appropriately become more segmented given the obvious differences between studios and penthouses.
The sale of the two Opera Residences penthouse earlier this month that established new price records has highlighted the increased emphasis being given to price per square metre.
They sold at $26 million and $27 million, but details released showed these expensive penthouses fetched a stellar $95,000 per sqm. 
The price level is unquestionably comparable to much of Manhattan in New York and Knightsbridge in London. Though not quite matching the world's most expensive apartment currently for sale in Monaco. 
The five floor La Tour Odeon penthouse, designed by the Monegasque architect Alexandre Giraldi, featuring a pool with a waterslide, comes with a reported $US335 million asking price for its 31,500-square foot (2900 sqm) space which equates to $US122,000.
The Sydney Opera Residences penthouses came with around 275 sqm internal space, with three bedrooms, four bathrooms and a triple lock up garage. 
The sub-penthouses in the Macquarie Street complex sold for around $16 million so reflected around $85,000 per sqm. They had an internal area of 183sqm and came with two car spaces. 
The sales represented a big jump on prior benchmarks.
The previous highest recorded rate per square metre was set in the nearby Bennelong "Toaster" development in 2008 when the Moran family bought an adjoining 260-square-metre penthouse for $16.8 million.
At $64,000 a square metre there was something of a one-off premium because the Moran’s planned to extend, so we happy to pay the opportunity cost.
Until the latest price hike, Omnia, Kings Cross’s newest development, held the price per square metre honours after an $11 million penthouse off-the-plan sale last year. It reflected $62,000 per square metre price.
The price per square metre trend has mostly come to the fore due to the off the plan marketing of new high density projects across Sydney. 
But ever since the 13-storey Astor highrise was built on Macquarie Street in the 1920s, Sydney has led the nation in apartment living popularity.
Sydney has 21 square kilometres of what's called high density, Melbourne has one square km with no other city in Australia ranked.
By comparison London has 327 square kilometres where there is a similar high density of 8,000 plus people per square kilometre.
There's been interesting subsequent research from the Urban Taskforce that demonstrates that apartment values per square metre actually go up with greater density. 
An typical apartment in high rise Chatswood will be $9,000 a square metre compared with a mid-rise apartment in Lindfield at $6500. Potts Point apartments are selling at an $11,000 per square metre, compared to Edgecliff's $8300 per sqm.
Parramatta apartments have been selling at $6000 per square metre while Westmead is $4750 per square metre. Randwick apartments at $9300 and Zetland at $6600 psm.
While I think price per square metre calculations are very handy, they ought not be the reason to buy or not buy. 
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Apartment Size

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