Standing out from the crowd is vital when it comes to attracting investor interest; and unique properties are more marketable than most, according to Your Investment Property, Australia's most influential property investment magazine.
Unique properties can also place an emotive hold on buyers, encouraging them to pay more for what they may consider a 'once in a lifetime' opportunity. With unusual property, the sky really can be the limit in terms of resale value, which is great news for investors.
The chance to re-use converted buildings such as churches and warehouses is also attractive for developers, as it enables them to access the kinds of locations that may otherwise be out of reach because of council red tape.
"Developers get the opportunity to create apartments in areas where normally you wouldn't be able to do it by virtue of zoning laws," said Curtis Field, national development director for Colliers PRD. "From an investor's or buyer's point of view, you're getting the opportunity to buy in a location which normally just wouldn't be there."
L.J. Hooker CEO Warren McCarthy agreed that being unique can be a major selling point, because "it creates a lot of interest".
"Something that's different will stand out from the crowd; therefore it's going to turn on some desirable juices from the purchasers," he said.
For the full story and more, read the latest issue of Your Investment Property, on sale now.