The latest Australian Bureau of Statistics (ABS) Census shows that Australian apartment occupation has increased by 78 percent over the past 25 years.  In line with this trend, approximately one quarter of residential new-builds are now multi-residential.
 
An apartment, flat or unit is a self-contained house that occupies only part of a building, generally on a single level.  Depending on the height of the complex it may or may not contain a lift.  Some particulars about apartments include:  

• Australia’s changing demographic as the main driver of growth in apartment living.
• The Australian Bureau of Statistics (ABS) projects that the number of lone-person households will swell significantly in the next decade or two, up from 1.8m in 2001, to between 2.8m and 3.7m by 2026.
• Some people are attracted to apartments because they are more cosmopolitan, with beaches, cafes, and restaurants on their priority list.
• Tenants may be first time young people moving out from home.
• May take time to rent as competing with other apartments in the complex.  May have to lower rent to find first tenant.
• Strata fees to be paid.  Apartments with pools, gym and lifts will lead to higher strata fees but will also attract premium tenants.
• Strata responsible for the insurance and maintenance of the building and common property.
• Renting families are likely to expect that the apartment has its own allocated parking spot.
• Older units in smaller blocks might offer lower prices than new apartments in high-rise as strata fees will be lower, and rents may be lower making it appear easier to find tenants. However, quality of tenant is a major consideration along with long term resale values..
• Tenants usually prefer newer apartments rather than older ones.
• Tenants like the use of pools, gyms, barbeques, etc.