In a softening property market, some of Sydney’s top apartment buildings are boosting their appeal to buyers by dramatically renovating and upgrading their foyers. Owners are forking out up to $1 million to bring their blocks an extra touch of class.
“And it’s always worthwhile because first impressions are so important for apartment buildings,” says Vicki Laing of Laing Real Estate in Potts Point. “It is so very important to reinvest in your building and to see your foyers and common areas as part of your home, just like a kitchen, and to recognise when they need an upgrade or a value-add, which can transform a building, and most importantly, make residents appreciate their homes.”
The changes can increase value well above actual expenditure.