The occuvestor: a new breed of buyer.- Published June 2018
Our projects are attracting a new kind of purchaser – the occuvestor.
Occuvestors are an intelligent hybrid. They understand the traditional Australian quarter-acre dream is rapidly shifting to an apartment driven landscape and they’re ready to leverage this progression to their advantage.
Who qualifies as an occuvestor? What are they looking for in a development, and why do they keep finding it at Pace?
In order to understand how occuvestors operate, we need to know where they’ve come from.
Traditionally, the Australian apartment landscape has been driven by two distinct audience groups: the owner occupier and the investor.
Owner occupiers want to live in their apartment upon completion. They’re driven by emotion and look for light filled rooms, generous amenity and connection to the local community. Owner occupiers want quality finishes that elevate the look and feel of what is set to become their immediate home.
Investors are purchasers who are likely already homeowners. They are financially driven and want to generate greater economic return by securing an apartment delivered by a trusted developer. Investors want strong returns on their purchase generated through rental yield, and long-term capital growth.
Occuvestors are the sophisticated crossbreed of these two groups. As purchasers they are emotionally driven, settling for nothing but the best in in amenity and lifestyle. But beyond this, the occuvestor’s financial drive sees them investing in quality developments that are set to yield returns.
Drawing together the owner occupier’s need to secure their lifestyle, and the investor’s desire to secure their financial future - occuvestors are a purchasing force to be reckoned with.
Where are occuvestors buying?
We first began to study the occuvestor’s emergence at Pace of Carnegie. Our fastest selling project, Pace of Carnegie attracted two of our most memorable purchasers – Glenn and Valerine.
Glenn and Valerine sold their family home in Mulgrave, purchasing two apartments at Pace of Carnegie. They’ll live in one, and their adult children will occupy the other. The entire family is set to benefit from their new apartments’ spacious design with terraced gardens, proximity to local shops, schools and the CBD.
Glen and Valerine are occuvestors. They fall into this unique category because not only will they immediately benefit from living at Pace of Carnegie, but their children will benefit from the investment they’ve made in a quality Pace built property
How do occuvestors benefit by choosing Pace?
Occuvestors are well researched. They absorb the latest industry insights and are well versed in how buying off the plan from a leading developer locks in gains from a rising market and is poised to see a return on investment like we have seen this year already at projects across Melbourne.
One such Pace of Abbotsford occuvestor is Louise. A Melbourne local, she and her husband purchased their first home eight years ago in Monbulk.
When Louise and her young family set out to buy their second property they knew they wanted an apartment. Louise researched multiple projects in Melbourne’s inner north; in her words, she was going “floor plan mad!”
Louise is an occuvestor because with the help of our dedicated sales team at Pace of Abbotsford, she has secured both the benefits of inner city lifestyle, and the long term returns of a sound investment.
Occuvestors are changing the apartment landscape by demanding more from local developers. We owe it to them and to Melbourne to be flexible, adaptable and agile in our offering. To continually strive for what Pace have always delivered - a unique blend of quality homes and communities.
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