A recent report produced by Oliver Hume Real Estate Group revealed that Melbourne’s increasing high-rise developments will put the city ahead of Hong Kong, New York and Tokyo in terms of density. One of the effects of this is an obvious reduction of quality, as space is given over to smaller apartments. The Australian Financial Review reported that the average size of a two-bedroom apartment fell from 62 to 59 square metres in the final quarter of 2014, while one-bedroom apartment sizes fell from 47 to 44 square metres.
While this might mean more profits for developers, we believe it calls into question the quality of life these apartments can provide. With little thought towards interior design, or indeed how these skyscrapers affect the surrounding area, the future looks bleak for residents in these shoeboxes of central Melbourne.
In May, the Victorian state government launched a discussion paper on apartment design, which seems to be the first step towards ensuring standards similar to those already in place in New South Wales. With almost 100,000 new residents anticipated for Melbourne each year, at K7 Developments we welcome positive changes in this area, and we look forward to reading the final report when it is released.