The multi-unit property market has been a big winner over the last few months, with more people recognising the need for medium-density development in the face of population growth.
Investors interested in purchasing investment real estate in Bentleigh should take note of a recent discussion paper released by the Victorian government, which outlines the need for more liveable apartment designs to be embraced in future projects.
Minister for planning Richard Wynne said Melbourne is expected to be home to almost 100,000 new residents each year, so it's important to factor this into future plans and take steps to provide for the rising population.
"We need to encourage a higher-standard of apartment design to avoid poorly designed homes lacking space, light and ventilation," said Mr Wynne in a 14 May statement.
"This is more than establishing minimum standards, it's about keeping pace with how people want to live."
While apartment development has risen in the city, Mr Wynne said there will need to be another 480,000 apartments by 2051 to help house the estimated 7.7 million population.
If you're considering Bentleigh property for your investment portfolio, now could be a great time to begin planning. Get in touch with Matt Hurlston at Ray White Carnegie to discuss the local community and what options suit your needs.
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