Developer singles out new niche
LIVING the single life may seem free and easy, but it can be very expensive if you are trying to rent on the Sunshine Coast.
Affordable one-bedroom units or studio apartments are few and far between, and Coast property experts say it is only going to get worse if Coast developers do not do something about it, with more people opting for privacy over shared living arrangements.
One man who is leading the way in innovative and affordable living is local developer Marios Constantinides of MC Property Investments.
Mr Constantinides said he realised the need for affordable accommodation for the younger generations and single working professionals more than 10 years ago.
In 2008 he came up with the Hinley Ave apartments in Maroochydore, which gave tenants the freedom and privacy of a studio apartment, the space of a house and the social aspects of shared living.
Mr Constantinides is working on plans for similar apartment blocks on the Coast and believes they are the answer to the region's housing-affordability crisis.
Joanne Reilly, business development manager and leasing consultant at Amber Werchon Property Mooloolaba, said there needed to be more affordable one-bedroom units or studio apartments to cater to the demand.
She said on the Coast there tended to be a lot of people post-divorce who were looking for these rare gems, as were teens moving out of home for the first time or people sick of living with flatmates.
"There are not that many around and the ones under $200, when they become available, are gone like hot cakes," she said.
A Stockland spokesman said the affordability of new homes and terrace-style homes at Bells Reach, Caloundra, might bring ownership within reach for more people.
"The affordability of Bells Reach will particularly appeal to people who may be currently renting and may not have been able to purchase a new home until now," he said.
"House-and-land prices start at only $314,500, while terrace-style homes in our Bower Series are available from just under $205,000."
