Consumer News

Vertical living growing in popularity

29 August 2017

By Tim McKibbin – REINSW CEO

More than two million people in NSW live in a strata apartment, and it is estimated that over 50% will by 2040.

One of the reasons for its increasing popularity is because many strata developments are designed to provide their residents with everything they need.

A development like this is often called a vertical village, and are made up of three main tiers.

On the ground floor, it contains retail outlets such as a supermarket, newsagent and restaurants. On the first floor, it includes professional services like a doctor, dentist, gymnasium and childcare. Then on the floors above it would have residential living.

This way, everything the residents require can be obtained from within their vertical village. In the modern time-poor society, these vertical villages are evolving to meet people’s everyday needs