Do gym or pool facilities add value for apartment owner occupiers?
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Speaking recently to Domain – Opteon’s Scott O’Dell discussed the trend towards high-end shared gym and pool facilities in luxury apartment complexes, and whether they add value for investors and owner occupiers.
Excerpt from: Why apartment building investors sign up for gyms residents may never use, Domain.com.au
“In some cases a rooftop glamour-gym can influence apartment prices significantly, whereas the humble and only-recently-obsolete ground-floor workout-room is unlikely to move the dial at all, according to Regional Director Scott O’Dell of property valuation and advisory firm Opteon.
“For the luxury, high-end, ‘six-star’ buildings … if you had one building with well-designed gym and lifestyle amenities on a roof top, compared with the same building next door, minus those gym and lifestyle amenities, you would be looking at up to 10 per cent increase [in value] if it were really well designed,” Mr O’Dell said.
