Demand for luxury living is increasing in this sun-soaked haven, with more buyers looking to the Gold Coast for their dream apartment.
The Gold Coast has long been famous for its pristine beaches. But with high-end buyers turning their attention from capital cities towards the sunny stretch, it’s becoming just as well known for its prestige living.
In 2020, listings on realestate.com.au for $1 million-plus units in the Gold Coast increased by 17% compared to 2019, while views per listing were up by 38%.
“The Gold Coast is proving really popular at the moment,” says Cameron Kusher, executive manager of economic research at REA Group. “It’s been a pretty strong market and I think the pandemic is going to drive more demand for lifestyle property.”
Pot of gold
According to the REA Insights Regional Australia Report, regional areas close to capital cities are proving to be a sweet spot with buyers. This is largely due to the shift towards professional services moving towards remote working and flexible working conditions.
Kusher says the Gold Coast ticks this box. It has fast access to Brisbane if people want to go into an office for one or two-days per week then work at home with beach views for the rest.
But it’s not just commuting Queenslanders. ABS data has shown significant population movement from southern states towards Queensland while interest in Gold Coast property from Victorians, in particular, boomed in 2020.
Kusher says regular connections to capital cities across the country from the Gold Coast domestic airport means people can be more flexible than ever about where they choose to live.
“You can base yourself on the Gold Coast and work out of Sydney or Melbourne quite easily,” he says.
Adrian Parsons, managing director of TOTAL Property Group, says the Gold Coast is drawing a steady stream of discerning owner-occupier professionals and business owners looking for luxury apartments. It’s also attracting holiday home buyers hunting for a beachside location that offers rest and relaxation.
“People who might normally travel overseas for four weeks a year can’t travel (due to the pandemic), so they are choosing to spend money on a holiday home,” says Parsons.
Burleigh Heads breaks out
Every part of the Gold Coast from the bustling north to the laid-back south has unique appeal.
For apartment buyers at the upper end of the market, a standout was the suburb of Burleigh Heads, where views for $1 million-plus units were up by 106% year-on-year.
This compares to the busy northern area of Broadbeach, where views went up by 91%, and in Surfers Paradise (54%). In the quieter southern Gold Coast suburb of Coolangatta, views increased by 28% year-on-year.
For prestige apartment buyers, Burleigh Heads stands out due to its world-class surf breaks and scenic national park, as well as its local cafes, restaurants, shops and markets, Kusher says.
“Burleigh Heads is certainly quite popular,” he says. “I’d expect over the coming year and years, there is going to be quite strong demand in that area. There’s not as much high-scale development, it’s more relaxed and probably has less international tourism.”
Parsons says interest at the top end of the market is soaring as prestige apartment developments, such as Mondrian Gold Coast, bring a new degree of luxury living to the area.
“The real estate market of the southern beaches of the Gold Coast has probably never been hotter,” he says.
“We haven’t seen this level of prestige in a location as desirable as Burleigh Heads and this is why Mondrian Gold Coast has been receiving a high level of interest from luxury property buyers.”
Style and service
New prestige developments in the Gold Coast are catering to the surge in luxury apartment demand with modern buildings that feature contemporary design, luxury finishes and exclusive amenities.
Parsons says the new penthouses and skyhomes at Mondrian will feature sophisticated living spaces and breathtaking ocean views, incorporating Burleigh Headland and the surrounding hinterland. Residents will also have access to the adjoining five-star hotel’s services and amenities.
“This is an incredibly unique and limited opportunity to own a highly coveted prestige apartment right on the beach in Burleigh Heads,” Parsons says.
“The nine skyhomes and 13 penthouses set a new benchmark and present a rare opportunity to obtain the ultimate beachfront home – the combination of location, amenity, style and five-star hotel services are second to none.”
Parsons says the new penthouse and skyhome release is a game changer for luxury living on the Gold Coast.
“These apartments are unlike anything available directly on the beach here in Australia,” he says.
“The sales display centre provides buyers with a window into another world of unparalleled style and five-star luxury that takes Burleigh Heads, and its highly-desirable lifestyle, to a whole new level.”
Originally published on Realestate.com.au here.