Thousands of apartment owners could be forced to sell their own homes under a massive shakeup of property laws that developers hope will be adopted by all state and territory governments.

Key points: Government proposes lower number of apartment owners to agree to developer buyout

Government proposes lower number of apartment owners to agree to developer buyout Currently, 100 per cent of residents must agree, proposed changes dictate only 75 per cent

Currently, 100 per cent of residents must agree, proposed changes dictate only 75 per cent NSW Regulation Minister said residents would be fairly compensated

NSW Regulation Minister said residents would be fairly compensated Opposition fears older people will be evicted from homes

Under existing laws, 100 per cent of residents who own flats in an apartment building must agree to the terms of a full buyout from a developer.

The New South Wales Government wants to lower that threshold to 75 per cent, as part of a raft of reforms to strata title laws.

It is understood the changes will be put before the State's Parliament next month.

The industry says current laws make it difficult and expensive for ageing buildings to be redeveloped, because residents who do not want to sell their homes can stop a collective sale going ahead.

Developers say the reforms will help increase urban housing density in the country's big cities.

The New South Wales Minister for Innovation and Better Regulation, Victor Dominello, said there would be protections in place to ensure residents were fairly compensated for the sale of their homes.

"You've got to have at least just terms compensation," he said.

"That is the minimum market value provided to the owners. And in most cases it will be well in excess of that."

The NSW Opposition has plans to vote against the legislation.

"We're not going to support the proposal between the Government and the developers to evict, particularly older people, from their homes," opposition MP Peter Primrose said.

Strata title is the most common form of apartment ownership in Australia. It is estimated about 3 million people live in strata title apartments.

University of New South Wales strata title expert Cathy Sherry said the change would inevitably result in people being forced to sell their own homes.

"It's the Government empowering private citizens to take other people's property and the Government can essentially write the legislation any way it wants," she said.

Dr Sherry said one of the goal of the legislation — to renew run-down apartment buildings — has merit.

But she pointed out there was no requirement in the proposed legislation for developers to only redevelop run-down buildings.

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Nor was there a requirement for them to increase density by building more units than they demolish.

"So, a developer could do a cosmetic revamp, strip the apartments inside, make them look a lot posher, do a cosmetic revamp on the outside and they may not be redeveloping to a higher density because that land size isn't big enough," she said.

"But a developer can still make a profit."

Other states consider adopting NSW changes

Randwick resident Vern Philpott said he was worried his apartment building could be targeted by developers.

"I don't see why they should be able to change your status just because they suddenly want to make a lot of money," the 88-year-old said.

The Property Council of Australia's Chief Executive Ken Morrisson said he hoped other states would adopt the NSW changes.

"We're seeing in Western Australia advanced stages of debate as well," he said.

"There's a parliamentary inquiry [into strata title laws] in South Australia."

The Victorian Government has told 7.30 it is willing to consider the 75-per cent threshold as part of a review into property laws that begins in November.