More people are choosing to live alone than ever before, but investors are overlooking the growing popularity of smaller apartments, according to a survey.
PRDnationwide’s recent survey revealed that investors are seeking apartments between 81 square meters and 101 square meters, with only 4 per cent considering apartments under 50 square meters.
Yet, figures from the Australian Bureau of Statistics showed around two million people aged 15 years and over are living alone.
Over the last couple of decades, the proportion of people living alone has increased from 9 per cent to 12 per cent.
And this number is projected to increase to 16 per cent (3.1 million) over the next 20 years.
PRDnationwide national director Jim Midgley said despite statistics suggesting more people were living alone, two-bedroom apartments were still the most popular option for investors, followed closely by two-bedroom-plus-study and three-bedroom apartments.
“This is possibly due to the perception that the rental market is more accepting of two-bedroom units ahead of one or three-bedroom options,” Mr Midgley said.