'Real Manhattan feel' at Sydney CBD increases demand for inner-city living

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Sydney CBD
Office workers and shoppers walk through Sydney's central business district in Australia, September 7, 2016. Reuters/Jason Reed

Sydney’s CBD has undergone changes from the commencement of infrastructure and transport projects to the emergence of retail precincts. With signs of progress everywhere, an economist has claimed that the demand for inner-city living is rising.

Chief economist for Domain, Andrew Wilson, said there is currently a “real Manhattan feel” about the Sydney CBD. “We’re seeing infrastructure develop right across the 2000 postcode and the demand for inner-city living is increasing accordingly."

Based on the latest Australian census figures released in June, nearly 5,000 residents moved to Sydney CBD between 2011 and 2016. It has become a home to over 27,000 people. As developments continue, demand for apartments in Sydney CBD is expected to soar.

Sydney economy

Sydney’s economy expands and brings more people into the CBD, specifically during business hours, Domain Media notes. The state government added that infrastructure projects that will add convenience for both residents and workers.

The CBD light rail will expand along George Street from Circular Quay in the north to Central Station in the south, with services expected to start in 2019. This means more convenient trips for Sydneysiders across the CBD. The Sydney Metro is also in the works. It is a standalone underground railway with over 66 kilometres of track that will link north-west and south-west Sydney via the CBD.

Furthermore, there are new apartment towers that create a more residential atmosphere in the CBD. These include The Rocks in the north and Haymarket and Chinatown in the south of CBD.

New services are coming in as well, including new shopping centres like the World Square, which houses one of the highest-trading supermarkets in Australia. Westfield Sydney in Pitt Street Mall is also included in the list.

The Sydney Morning Herald‘s “top 20 cafes for 2017” cites four cafes from the CBD. The Grounds of the City offers what many believe to be the best coffee in Sydney. The East-meets-West concepts at Boon Cafe in Haymarket and Regiment on George Street are also situated at the Sydney CBD.

Good Food Guide editor Myffy Rigby observed that dining in the CBD was an “ever-evolving beast.” “Today, it’s about actively participating in the city’s landscape: taking the odd leap of faith down a dark alley, climbing a set of rickety stairs in an old warehouse or descending into the belly of what was probably once a brothel,” he said, adding the magic is in the mystery.

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