In an industry-leading, Australian first project, MadeComfy has partnered with boutique developer ADC_ for the launch of Freeman - a unique property investment offering the flexibility for either full time residential living or professionally managed short-term rental.
The launch comes at a time when Perth's property market is seeing a significant resurgence and demand outpacing growth in other major capital cities, as well as strong demand for short-term and flexible stay accommodation.
Lack of quality short-term accommodation drives unique investment opportunity
According to ADC_ director Adam Zorzi, Freeman is Perth's only new short-term accommodation development on the coastal stretch of Perth's Western Suburbs.
Located just 200 metres from Leighton Beach in North Freemantle, the project will fill a key gap in Perth's tight commercial accommodation market, which has few quality options of note for visitors wishing to stay along the city's popular coastal strip.
According to MadeComfy's 2021 Perth Short-term Rental Market Report, North Freemantle is one of the city's top suburbs for short-term accommodation, achieving an average nightly rate of $176 between December 2020 - February 2021 and an occupancy rate of 89%.
Perth overall experienced relatively strong demand for short-term accommodation throughout 2020 due to very minimal Coronovirus outbreaks and a strong local economy. By January 2021, the city's occupancy rate had returned above pre-covid levels:
The number of active short-term rental properties in Perth declined significantly from April
2020, as Airbnb hosts moved their properties away from the platform to secure long term
rental leases, coinciding with declining rental vacancy rates in a tightening property market.
With active Airbnb listings down 27% year on year in January 2021, this lack of supply is
presenting an opportunity for new property investors seeking to take advantage of the
post-COVID travel recovery and higher rates for accommodation in the short-term rental
Pioneering development purpose built for flexible and short-term rental
Versatile floorplans, including 14 cleverly designed dual key apartments, offer unrivalled flexibility.
Owners of these apartments have the option of setting them up as a two-bedroom two-bathroom
apartment, or, as a one-bedroom apartment with a separately accessed studio apartment.
Within the development, ADC_ has incorporated remote building and apartment access control,
centralised cleaning and linen stores, and other guest management technologies that facilitate
streamlined management and co-habitation by both residents and short-term guests within the building.
Find out more about Freeman