More younger buyers than ever before are in the market for Southeast Queensland’s luxury apartments says leading property sales and marketing company TOTAL Property Group.
A younger demographic of high-net-worth property buyers between 35 and 45 is becoming increasingly active in Southeast Queensland’s property market, seeking multi-million-dollar apartments with five and six-star resort amenity on Gold Coast’s beaches and within Brisbane’s city fringe.
TOTAL Property Group specialises in new and off-the-plan lifestyle apartments in Southeast Queensland and has noticed the trend emerging, following the high-quality apartments being developed for prime lifestyle locations in key parts of the region.
“The property market in Southeast Queensland has matured and there’s now a significant focus on apartment living, which has become more desirable because of the high level of luxury amenities developers are adding within the apartment buildings,” Mr Parsons said.
“There’s been a ‘coming of age’ in Queensland and we have the 2032 Olympics to look forward to, which is creating dynamic and exciting opportunities for young, successful business leaders and entrepreneurs that historically would have gravitated to the Sydney, Melbourne or major cities overseas.
“We have seen young wealthy Sydneysiders in particular who are lifestyle and blue chip asset driven, purchasing high value apartments often between $4m and $10m. This type of buyer has been prevalent at Mondrian Gold Coast and Jewel Private Residences, where the opportunity to purchase a large apartment residence attached to a five-star international resort hotel is a major drawcard.
“In this digital age, younger buyers have the freedom to work remotely and choose where they live. We saw this shift start to take place during the pandemic when large numbers of people started migrating north for space and sunshine and they are still coming.
“Interestingly, ABS figures show 32% of people coming to Queensland from southern states are aged between 25 and 44 years. Of the 32,260 people who moved to Queensland from interstate in 2023, 10,420 of them are between the age of 25 and 44, seeking employment, lifestyle and other opportunities. 36% of people who moved to the Gold Coast and 38% of new arrivals to Brisbane were within this age bracket.
“In 2023 Brisbane City was the fastest growing municipality in all of Australia with Gold Coast second. People are discovering how easy we have it up here in Queensland – two international airports, the world’s best beaches, unique shopping experiences, celebrated food and beverage offerings and state-of-the-art facilities, all within easy reach.”
At the coalface of buyer demand for Brisbane and Gold Coast property, TOTAL Property Group specialises in forecasting property trends to guide developer clients in the early stages of development planning.
Thorough research and analysis of information collected from a database of more than 95,000 property buyers – with 600 new inquiries coming in weekly – enables the team to form a clear view of local, national and international markets.
Mr Parsons says new premium residential apartment developments with a high level of style, convenience and five and six-star amenity in prime locations had been a major incentive for younger high-net-worth individuals to choose Queensland as their home base.
“The way people are living has changed over recent years. Technology has given us the freedom to live and work where we want to, while on the other hand we have been increasingly busy, requiring us to find new levels of convenience in other parts of our lives to balance things out,” Mr Parsons said.
“People in their prime working years either don’t have time, or do not want to maintain a house and yard and this has changed the way younger people view their living environments.
“The introduction of larger, two and three-bedroom apartment residences in key locations is even attracting young families, who traditionally would have purchased a house with a yard. It makes sense these days as children are spending less time outdoors and when they do go outside, they are happy to play at a local park or the beach.
“An apartment is a more affordable option, especially in the highly desirable suburbs where the younger crowd want to live, considering location is one of the main priorities for younger property buyers. And while property prices in Brisbane and Gold Coast are now ahead of Melbourne and moving up to be on par with Sydney, Queensland still offers a more affordable lifestyle as well as spectacular weather.
“On the other side of the coin, the demand for smaller apartments is escalating across all property markets, as well as the need for more apartments and townhouses in outer areas from the city fringes to the suburbs. There are plenty of golden opportunities for developers to deliver high quality attached homes with a range of floorplan sizes to meet the growing buyer demand in upcoming and tightly held areas of Southeast Queensland.
“A two or three-bedroom apartment is an attractive option for older couples and singles who would happily downsize from their four and five-bedroom family homes if there were smaller options available to them close by to where they live now.”
TOTAL Property Group specialises in working with developers from inception and design to development and off-the-plan sales, all the way through to settlement, providing extensive research and development to guide all the “layers and levels” that go into creating the DNA of a product.
By the time TOTAL Property Group takes a development to the market, the team can say “hand on heart” that the building and its apartments exceed market expectations and is well positioned for success.
TOTAL Property Group has earned a reputation over the past 24 years as a dynamic, innovative and progressive property organisation, acknowledged for consistently delivering the highest quality service and support to buyers and developers alike.
The team is based in Southeast Queensland with offices on the Gold Coast and Brisbane, as well as in Sydney to service the influx of southern buyers looking at opportunities in the Sunshine State. For more information phone 1300 393 855, email [email protected] or visit www.totalpropertygroup.com.au.
Originally published on Australian Property Market News. View article online HERE.