As the cost of property and land has progressively risen across most capital cities (Especially in Sydney) and the demand of occupant is shifting towards smaller living spaces; the demand for duplex has recently gained momentum. For those who are not familiar with duplex development; a duplex property is effectively two adjoining properties occupying one block or plot of land sharing at least one common wall.
There are a number of reasons why people purchase or build a duplex. The units can be very spacious and are usually much bigger than the average apartment and duplex usually still has good sized private outdoor spaces. Another wonderful thing about a duplex development is that the build costs may not be that much more than building one larger house. However, the land cost is halved for each dwelling.
This is good alternative for those that want to live in a house rather than apartment but find that cost of house is out of budget. Duplex can also help home owner paying for part of the mortgage by renting the other half of the property out to others or for investors to rent or sell both out. Even though it is sharing at least a common wall, each unit of the duplex has its own entrance so privacy is never an issue.
With so many benefits associate to it, no wonder duplex development is set to significantly increase in numbers in 2014/15.