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Melbourne is the city with the fastest population growth in Australia. Every year, a considerable amount of overseas students, job-seekers and tourists visit Melbourne and look for ranting apartment. Thus, it is also explainable for the high rate of return in the Melbourne apartment rent market. 

In order to select the best accommodation place, people have to endure difficulties such as crowded inspections, immediate applications and queuing for payments. Not only so, during every rental peak season, it is even more difficult to find a satisfying apartment in Melbourne because the housing stock is either insufficient or it is too expensive.

The Census data show that the number of leaseholders in Melbourne area has already reached 1.5 million, where 90% of Victorian suburbs have shown an increasing trend within the past 10 years. Between the year 2006 and 2016, the number of leaseholders in Victoria has increased by 0.34 million, where Melbourne successfully made it into Victoria's top four by a 8.5% increase.

As the rental population continues to expand, the market demand and the rate of return for apartment investment increases, the apartment rent market is gradually becoming prosperous. Statistics show that the latest apartment vacancy rate has dropped to 1.7% and the utilization of Melbourne Apartment is extremely high.

The prosperity of the Melbourne apartment for rent market has a direct impact on the living experience of leaseholders and the rate of return for the owner's investment.

Melbourne Apartment Rent Market | Suggestion for Tenants 

To seize opportunities in the ever-changing rental market, it is best to lease the empty rooms in your personal property. This will not only allow you to invest in the rental market, but it also will save you the trouble in visiting crowded property inspections. 

Melbourne Apartment Rent Market | Suggestion for Property Owners

Although apartment rent market is extremely prosperous, but not all properties are welcoming. As owners, you must pay attention to the following details to guarantee yourself a considerable rate of return when selecting an property to invest (Suggestion from the best sofa bed company in Australia)

Melbourne Apartment Rent Market | About Apartment Location

Choosing the location of a property is the most fundamental element for it to preserve longer. Along with the development of the city, property resources gradually decreases in the CBD, thus its value rises year by year. Owners should prioritize the housing location of the property when investing it. For example, properties in Melbourne's CBD has a stably growing rate of investment return. 

Melbourne Apartment Rent Market | About Apartment Transportation

Another major factor which impacts people's choice of property investment is transportation. As people's living requirements and their frequency of daily activities increase, the necessity of transportation is amplified. Therefore, properties which occupies transportation advantages are more desirable for tenants.

Melbourne Apartment For Rent Market | About Nearby Facilities

Nearby constructions such as schools, shops, restaurants and other essential facilities are also extremely vital to the tenants' choice of their property investment. Thus, property owners should carefully consider and examine both the property's self-facilities, as well as surrounding resources, to ensure a satisfying rate of return on their investment.