Over the next 10 years, Melbourne is projected to experience a substantial increase in its population due to a combination of factors. According to population projections, Melbourne’s population is estimated to grow by approximately 1.5 million people by 2030, representing an average annual growth rate of 1.7%. This influx of residents will be driven by both domestic and international migration, as well as natural population growth.
Projections indicate a substantial increase in apartment sales, with an average annual growth rate of 5%. Factors such as population growth and evolving lifestyle preferences contribute to the sustained demand for apartment living.
Melbourne’s apartment market is expected to experience steady price appreciation, with an average annual growth rate of 4-6%. Limited housing supply, growing demand, and ongoing infrastructure development enhance the desirability and value of apartments.
Melbourne’s rental market is projected to remain stable, offering reliable income streams for investors. Rental yields for apartments are expected to hover around 4-5%, reflecting sustained rental demand.
This will attract a diverse range of buyers from young professionals, students, downsizing empty-nesters, and retirees which will shape the demand for apartments, requiring developers to cater to their evolving preferences.
The future for apartment sales in Melbourne over the next decade. Anticipated growth, price appreciation, stable rental market conditions, shifting demographics, and infrastructure development make Melbourne’s apartment sector an attractive opportunity for buyers and investors.
With an extensive portfolio of apartment listings, let Zammit Real Estate be your trusted agent in navigating the vibrant Melbourne real estate market. Their personalised approach, market knowledge, and commitment to client satisfaction set them apart. Experience the difference with Zammit Real Estate and unlock the opportunities in Melbourne’s apartment market today.