Rightsizing 2026: Embracing Luxury Apartment Living

Australia’s prestige apartment market is entering a new era. This report explores the powerful shift underway as affluent buyers and downsizers trade standalone homes for luxury apartments that deliver space, sophistication and lifestyle without compromise.

Driven by changing expectations and rising construction costs, today’s premium apartments are larger, better appointed and more lifestyle-focused than ever before. Buyers are no longer just downsizing, they are rightsizing, prioritising quality, convenience and long-term value.

Larger homes in the sky

Three-bedroom luxury apartments are fast becoming the new standard across Australia’s prime regions. By 2028, the average prestige three-bedroom apartment is forecast to start from 160 sqm in Melbourne, 166 sqm in Sydney, 172 sqm in Brisbane and 190 sqm on the Gold Coast. In Melbourne and Brisbane, 40% of new prestige apartments are expected to offer more than three bedrooms, reflecting demand for generous layouts suited to entertaining, working from home and multigenerational living.

Strong price growth across key markets

Prestige apartment prices have surged since 2020, particularly in lifestyle-led markets. New luxury apartments recorded growth of 88% on the Gold Coast, 60% in Brisbane, 34% in Sydney and 32% in Melbourne. Barangaroo emerged as Australia’s most expensive apartment market in 2025, while Brighton East led Victoria and the Gold Coast overtook the Sunshine Coast as Queensland’s price leader.

Queensland now accounts for 43% of prestige apartment sales, edging ahead of New South Wales (41%), with total sales almost triple the level seen a decade ago.

Amenities now matter more than ever

Luxury apartment buyers expect far more than a prime location and views. Wellness facilities, resort-style pools, gyms, concierge services and private social spaces are increasingly essential. More than two-thirds of residential buildings in Australia’s largest CBDs now feature a swimming pool and gym, as vertical communities evolve to support health, connection and lifestyle.

Parking, privacy and practicality

Parking has become a major value driver in the prestige apartment market. In Sydney, three-bedroom apartments with more than four car spaces command a 62% price premium over those with just one space, with similarly strong uplifts in Brisbane, the Gold Coast and Melbourne.

At the same time, buyers are drawn to the privacy, security and lower ongoing costs that premium apartments can offer. When sinking funds are well managed, prestige apartments generally incur significantly lower maintenance costs than comparable standalone luxury homes.

The future of prestige living

As construction costs remain elevated and the supply of high-quality new apartments tight, luxury apartment living continues to gain momentum. For rightsizers seeking space, amenity and ease of living, without sacrificing prestige, this segment is set to remain one of Australia’s strongest-performing residential markets.

Explore the full Rightsizing 2026 report for detailed insights into prestige apartment trends across Sydney, Melbourne, Brisbane and the Gold Coast.