Why downsizing homeowners are looking for inner-city properties for when they retire

A new luxury development is offering downsizing homeowners a reason to spend their later years closer to the city.

Brisbane’s inner-city market is getting a new luxury building to meet the rising demand for downsizers migrating into the city.

The 11-storey project named Aire Newstead will see 40 luxury homes built for wealthy professionals and older families, seeking house-style living in an accessible and popular pocket near the CBD.

Developed by HG Developments and marketed by TOTAL Property Group, the project sits on 1518 square metres of property at 25 Maud St, Newstead North.

Aire Newstead by HG Developments: a new luxury project designed for downsizers who desire city life.

The site features ten two-bedroom apartments with multipurpose rooms, nine three-bedroom apartments and 19 three-bedroom apartments with multipurpose rooms, all on the market to purchase.

Apartments range from 158 sqm to 230 sqm, each designed to emulate living in a spacious house while keeping the benefits of an apartment complex.

A penthouse and a sub-penthouse are also being built on the property, ranging between 516 and 606 sqm. Each will feature a swimming pool, along with a large terrace to overlook the city.

The Newstead North development will feature 40 new homes between 158 and 230 sqm.

The design pitch of the project was to give homeowners the luxuries and comforts of living in a house with the accessibility of an inner city apartment.

TOTAL Property Group Managing Director Adrian Parsons said interested parties included young professionals looking for easy inner-city living; but the majority of responses came from downsizers looking for a change of scenery.

“What we see happening is there is a lot of people are re-evaluating the way that they like to live in residential property,” he said. “Traditionally, people have enjoyed the comforts of a large home. But more and more people like security, they like the freedom to be able to lock up and travel.”

At around 3km from the CBD and a short walk from the Brisbane River, the project features easy access to public transport and at least two carparks for every unit.

Prices begin at $1.995m for a two-bedroom apartment, with the penthouse and sub-penthouse apartments yet to be priced.

Prices begin at $1.995m for a two-bedroom apartment, $2.14m for a three-bedroom apartment and $3.22m for a three-bedroom unit with a multipurpose room. The two penthouse apartments are yet to be priced, with further details on the custom builds to come by 2026.

Mr Parsons said downsizers were seeking homes such as this for the chance to keep the comforts of a house without the maintenance, all while living in a more central location.

“It’s this new lifestyle they’re enjoying with more time on their hands,” he said, “particularly living in an environment they may not have lived in before.”

“This development suits a very specific market, and it’s the market that wants home-sized apartments in a boutique development.”

HG Developments, the developer, also recently completed Alouette Residences in Newstead.

New residents are expected to be able to move in by early 2027.

The project is following HG Developments’ completion of Alouette Residences, another luxury apartment development in Newstead.

Construction recently began with building company 5Point, estimated to be completed in Q1 of 2027.

Originally published as Why downsizing homeowners are looking for inner-city properties for when they retire