Top 5 must-haves for the apartment buyer of 2025

Homebuyers are being met with an abundance of new housing stock from which to choose, redefining the way they shop for their new home.

This is especially true for apartment buyers, with an increase in building approvals being driven by new apartments developments.

With new developments in the works and a wealth of information at their fingertips, the buyers of 2025 are also more informed and selective than ever before.

This access to information, paired with a more competitive market, has fuelled a shift in what the typical apartment buyer seeks in their new home or investment. As a result, developers are being kept on their toes as they try to stay ahead of the curve in buyer demands.

According to the Australian Bureau of Statistics, approvals for high-rise apartments in particular have surged, increasing from 1,815 to 2,782 in September 2024.

The Australian property landscape is evolving rapidly, and with it so too are buyer expectations. With the National Cabinet’s ambitious target to build 1.2 million new homes across Australia by 2029, gone are the days of limited choice.

Shift in buyer demographics

The Australian apartment market is now more diverse than ever, with a variety of buyer profiles embracing the apartment lifestyle.

The traditional first homebuyer demographic – often a couple in their mid 30s, according to Australia’s biggest lenders – still represents a significant portion of the market. These buyers are drawn to urban apartment living largely for convenience, seeking out dwellings that are in proximity to work hubs and with accessibility to lifestyle and entertainment amenities.

Older Australians are increasingly turning to apartment living too, however, with downsizing becoming a growing trend as the nation’s ageing population seeks to scale down their homes for something more manageable. Low maintenance requirements are a major drawcard for older buyers, in addition to practicality and accessibility as they age.

Five key buyer preferences of apartment buyers in 2025

1. Flexible floorplans and living spaces

With life feeling busier than ever, buyers are seeking apartments with flexible and functional layouts that can adapt to their changing needs.

Open-plan designs are highly desirable, in addition to multifunctional spaces that can accommodate a range of uses without sacrificing style or comfort.

2. Access to outdoor and green spaces

After being confined to their homes during the pandemic, buyers are increasingly seeking access to outdoor areas. Whether it’s a private balcony or shared outdoor spaces such as a garden, courtyard, or pool, access to the outdoors has become a must-have feature for many buyers.

With sustainability values also on the rise, eco-conscious and nature-centric developments have become more appealing.

3. Community and connection

Today’s apartment buyers are looking for beyond just a space to live, seeking to gain a sense of community and connection from their home too.

From residents’ lounges and social events spaces to shared rooftop terraces and communal gardens, buyers are prioritising developments where the word ‘neighbour’ is more than just a pleasantry.

The search for community goes beyond the four walls as well, with buyers looking for apartments located within vibrant community areas and social hubs.

4. Affordable financing options

With apartment prices increasing by a national average of 3.6 per cent in 2024 according to CoreLogic, apartment buyers will understandably be conscious of pricing in the new year.

Government incentives such as Western Australia’s off-the-plan duty concession will offer buyers extra financial security, making eligible developments more attractive.

In 2025, the Australian apartment market will be defined by a new profile of buyer – more informed and diverse than ever.

With the post-pandemic fallout ushering in a new era of living, heightened expectations around lifestyle and convenience are a main driving force behind buying decisions.

As the market continues to evolve, the ability to offer thoughtful, adaptable and community-centred developments will be the key to attracting today’s generation of buyers.

5. Location, location, location

It’s no surprise that location remains a cornerstone for buyers, but in 2025, the emphasis is set to shift slightly with the rise in flexible working arrangements offering some lenience.

Where buyers once may have prioritised proximity to work above all else, remote or hybrid working has shifted more weight into lifestyle factors.

Today’s buyers seek to strike a balance between convenience and quality of life. Apartment developments in well-connected suburban areas are growing in popularity, as opposed to busy and congested urban areas.