The rising cost of living has moved people away from the idea of purchasing homes, instead, apartments are becoming the new trend.
City living allows home buyers to live next to their favourite restaurants, work, and transportation- becoming the ultimate convenience lifestyle. Although, this has not stopped those buying these homes to day dream about a more exotic life elsewhere, perhaps in Dubai. Fortunately, with Deansgate square and the rise of fine dining within the area, this may not be a dream any more.
These apartments include access to pools, massage rooms, gyms, coffee shops and more. Walking out from the square, restaurants such as Kitten- a fine dining sushi restaurant- are only a couple minutes’ walk away.
One of the tenants of these apartments, Ella, commented, “It wouldn’t look out of place in Dubai, it just gives me that elite hotel vibe," adding, "If you put a casino in there it would fit in Vegas easily."
With the cost of living rising, apartments can become a beneficial step into the property market for those who don’t quite have the deposit required for a house.
“When my boyfriend mentioned getting an apartment instead of buying a house, I was against the idea at first…” This sentiment has rippled across the younger generation, with more leaning to the experience an active city can provide.
The benefits stated back up this idea of apartment living. Previously, the idea of living in a smaller space had negative connotations, but with the included amenities, apartment living provides a luxurious lifestyle only found in hotel equivalents.
It is recommended for those searching for apartments to research the area and facilities provided. As, although Manchester has been a hotspot for many years, areas outside of the North Capital have recently been stealing attention.
Places such as Liverpool, with their intricate regeneration plans, have become a focus for many, as at the moment their property is within price limits for those avoiding large deposits. These cities are focusing on creating the lifestyle people are now used to within Manchester. Recently, Liverpool has joined forces with the entertainment giant Gravity Active Entertainment who will reside in Liverpool One.
With the consistent rejuvenation of surrounding areas such as the northern docks and Liverpool One, investors may find it beneficial to strike whilst the irons hot, as prices in Liverpool are set to rise an average of 2.6% each year. With constant demand for property at reasonable rates, these areas are set to generate great yields.