Student apartments for under $500k close to Monash University campuses
Although some student apartment markets are currently impacted by a lack of demand due to the fall in international students, investors can still secure a strong performing long-term investment.
Apartments in student markets more affordable than ever, and according to the Demographics Group’s Simon Kuestenmacher, international students will likely drive a correction in prices for student-focused apartments in the longer term.
“Sooner or later, international students will come back to Melbourne because the demand for a high quality, English-speaking, in-person university experience is not going to shrink while we’ve got those growth economies in Asia,” Kuestenmacher told Domain.
As one of Victoria’s best performing universities, Monash hosts more than 85,000 students at its various campuses around Melbourne.
Urban takes a look at five apartments perfect for students nearby Monash, ideal for scholars and academics, high-income postgraduates and investors.
Apartments close to the Monash Parkville Campus
Home to the university’s Faculty of Pharmacy and Pharmaceutical Sciences, the Parkville campus is made up of five buildings on Royal Parade and is close-by Monash Law’s city campus.
Property investors with investments in the surrounding suburbs benefit from the campus, which enrols around 1,100 undergrad and postgrad students, which attracts international students, part-time students and professional researchers.
1. Melbourne Grand, Melbourne
Address: 560 Lonsdale Street, Melbourne VIC 3000
One-bedroom apartments from $498,000
Winner of the HIA ‘Victorian apartment complex of the year 2020,’ Central Equity’s Melbourne Grant provides an outstanding living experience.
Less than a kilometre away from Monash University’s Parkville campus, postgraduate students and investors alike will enjoy the residence’s ideal location.
The residence features various amenities, including resort-style facilities, residents’ lounge, 17-seat theatre and coffee bar.
2. Parkhill Apartments, West Melbourne
Address: 408 Spencer Street, West Melbourne VIC 3003
One-bedroom apartments from $479,000
Although a bit further from the campus, three kilometres south, the well-connected Parkhill Apartments offers stylish residences on the fringe of the Melbourne CBD.
Delivered by Central Equity, the project benefits from bright apartments with up to 2.7-metre-high ceilings, spacious balconies and seven-day concierge service.
Located minutes from Queen Victoria Market, transport links and Flagstaff Gardens, this project is one to consider.
Apartments close to the Monash Clayton Campus
Clayton campus, the university’s main campus, boasts a student population exceeding 41,000.
The 1.1 sqkm site also hosts the majority of Monash’s 9,000 academic staff, as well as visiting researchers, scholars and doctoral students.
1. Aster Apartments, Clayton South
Address: 456 Haughton Road, Clayton South VIC 3169
One-bedroom apartments from $396,800
Delivered by Cedar Woods and designed by dKO Architecture, Aster Apartments boasts affordable apartments in the award-winning masterplanned community, Jackson Green.
With over 4,700 sqm of public open space, residents at Aster can enjoy plenty of social spaces to connect with neighbours, just 1.8 kilometres from Monash’s main campus.
Clayton’s South is a hub for healthcare and education, connecting residents to employment opportunities, countless amenities and developed infrastructure.
2. M-City, Clayton
Address: 2107 Dandenong Road, Clayton VIC 3168
One-bedroom apartments from $371,300
Just 700 metres from the Clayton campus, M-City provides a sophisticated ‘mini-city’ in Clayton, within walking distance to grocery stores, restaurants, bars and more.
Shiavello’s development is situated in the lively Clayton, which has had an average annual growth of 12 per cent over the last three years.
Each apartment contains floor-to-ceiling glazing, spacious, private balconies and luxury resort-style facilities, including a heated pool, landscaped gardens and barbeque zones.
Apartments close to the Monash Caulfield Campus
Comprising over 13,000 students, the Monash Caulfield campus is the university’s second-largest.
Located within the Glen Eira City Council, Caulfield boasts good infrastructure, an excellent community feel and great schools.
1. 1060 Carnegie
Address: 1060 Dandenong Road, Carnegie VIC 3163
One-bedroom apartments from $459,000
1060 Carnegie
Located only 1.3 kilometres from the Caulfield campus, 1060 Carnegie enjoys the convenience of two train stations, four train lines and a dedicated tram route.
Beautiful parks, gardens and sport facilities provide vast amenity to students, homeowners and visiting scholars.
Delivered by Fortune Property Group and designed by Peddle Thorp Architects, the apartments feature landscaped lawns, rooftop garden and integrated storage space.
2. Equus, Glen Huntly
Address: 28 Watson Grove, Glen Huntly VIC 3163
One-bedroom apartments from $470,000
Placed in the intimate suburb of Glen Huntly, Equus affords a superior quality of life in an exceptional location, just 11 kilometres south-east of the CBD and 1.2 kilometres from the Caulfield campus.
Owner-occupiers and investors will enjoy the area’s relaxed energy and family-friendly neighbourhood.
Equus comprises 39 apartments and offers outdoor entertaining areas, considered space and bright open space.