An artist’s impression of the Astoria development.

A contemporary apartment project in Sydney’s south west has given first home buyers the chance to get a foot on the property ladder.

With most of its units priced below $600,000, the Astoria development in Punchbowl has been a hit with those chasing value for money.

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And buyers still looking can now get their hands on one of the striking project’s last remaining homes.

“There is an undersupply of apartments in that area so this price point, as well as the proximity to the city — about 17km — has been attractive,” selling agent Dean Applegate, from Laing and Simmons CBD, said.

Buyers get open-plan living spaces with modern interiors.

“Another highlight is you have a developer, who primarily focuses in the eastern suburbs, turn their attention to Punchbowl to set a new benchmark,” Mr Applegate said.

Piper Property Group is delivering the Astoria build in a prime spot, along the local thoroughfare that is Canterbury Rd.

The developer snapped up the site at No. 1562-1568 and has demolished existing residential dwellings to make way for the five-storey building.

All apartments come with a balcony or leafy ground floor courtyard.

Construction is slated for completion later this month, with the first residents set to move in.

Near parks, schools and shops, the expansive property is also close to Punchbowl’s train station and the M5 motorway, which is a drawcard.

To date, the majority of buyers have come from within a 6m to 10km radius of the site and have been young singles or couples, as well as some investors who see growth potential, according to the agent.

Residents can take in sweeping district views from the rooftop.

For less than Sydney’s median unit price of $710,000, buyers get stamp duty exemptions and most qualify for the $10,000 first home buyers’ grant.

All units in the building have a car space and internal features designed by architecture firm Fox Johnston.

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“At the top of the five levels, there is a communal rooftop which offers lovely district views,” the agent said.

One-bedders range from $419,000 to $475,000 and two bedrooms cost between $565,000 and $630,000.

Visit astoriasydney.com to find out more about the development.