A combination of low stock and high demand for premium Gold Coast apartments has seen owners making gains of 40% while properties are still under construction, according to leading Queensland developer, Marquee.
Marquee Sales Manager, Azura Griffen, said demand for high end apartments was riding the crest of a wave, evidenced by the string of ‘sold out’ luxury developments currently under construction for Marquee along the length of the Gold Coast.
“The iconic relaxed beachside lifestyle in combination with record population growth, limited new housing supply and a wave of infrastructure spending is driving unprecedented demand for quality residential opportunities in the right locations,’’ she said.
“An off-the-plan buyer who paid $1.225 million for an apartment at SOL Kirra Beach put their apartment back on the market due to a change in circumstances and achieved $1.759 million for the re-sale,’’ Mrs Griffen said.
“Those sorts of gains, of half a million dollars in a matter of months, are not unusual and people a clambering to get into the right projects before it is too late,’’ she said.
“Our projects are geared toward providing homes for Gold Coast locals and long-term tenants, to enjoy unparalleled lifestyle and five-star resort-style amenity such as heated pools, gyms, cinemas, work from home spaces, and more.
“With four completed buildings and another 5 underway, we’re committed to bringing high-quality buildings to the Gold Coast that set a new standard for apartment living, as well as help ease the growing supply shortage in the region,’’ she said.