“The Gold Coast is no longer that transitional city that people used to consider for a short-time”, Ramsey says.
The Sydney born real estate agent Andrew Ramsey has been selling property on the Gold Coast for the last 15 years since moving from the Harbour capital.
And in that time Ramsey has seen the area evolve in to a world class destination.
“The Gold Coast is no longer that transitional city that people used to consider for a short-time”, Ramsey says.
“The Gold Coast is now sophisticated, world class even, with its world class sporting facilities, shopping centres and golf courses.
“It’s a playground everyone wants to enjoy.”
And that’s certainly the case, as the Gold Coast has become one of the most sought-after areas in the country. Vacancy rates are currently less than one percent, according to SQM Research. In comparison, Sydney’s vacancy rate is over three per cent and Melbourne’s over four per cent.
“People are buying things they wouldn’t normally buy”, Ramsey says.
“There’s huge demand for off the plan and existing apartments, the trouble is there’s not enough existing that is top quality.”
Ramsey marketed White Main Beach, the 27 level tower from developer White & Partners, which saw 80 per cent of its apartment sales go to locals at an average price point around $2.9 million.
Only three apartments are left. Each apartment in the development spans a whole floor and has 325 sqm of living space.
White 24-26 Woodroffe Avenue, Main Beach QLD 4217
Ramsey said owner-occupiers wanted the big apartments that White offers in a boutique residential building, with downsizers keen on not having the expenditure and hassle of maintaining a house.
“People are wanting to get away from holiday apartments as lifestyle is king, which is why there’s been higher demand in the more premium end of the market,” Ramsey says.
Ramsey has a few apartments left in Infinity, the Bassar Group’s Broadbeach project of 60 apartments.
Construction has commenced on the 39 level tower designed by BDA Architecture. Another residents only tower, Infinity will feature private resident facilities including a 20m north facing pool with daybed area, a gym, alfresco BBQ space and multiple entertaining areas.
Prices for the remaining apartments start from $1,347,000.
Infinity 33 Surf Parade, Broadbeach QLD 4218
When discussing the current boom conditions, Ramsey doesn’t see a slow down anytime soon, with further opportunities to open up when international travel returns to normal.
“We haven’t seen the overseas market,” Ramsey says, adding that people are watching Australia and wanting to move here due to its response to the COVID-19 pandemic.
“Research shows there is still a huge undersupply of apartments and demand is still well outstripping supply.”
The demand has been seen across the board, from Palm Beach and Coolangatta as far north as Mermaid Beach.
Article Source: www.urban.com.au
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