Sales of new apartments in the first three months of 2019 increased 45% over the previous quarter, despite the collapse of other markets across the country, according to Urbis real estate consulting company.
The quarterly report on essential apartments shows that the activity of new apartments in the first quarter of 2019 has increased by more than 70% compared to the month of December.
According to Lynda Campbell, senior consultant at Urbis, the new apartments have outpaced the market downturn with the help of promoters able to attract buyers.
"Most Gold Coast developers are meeting the market," Campbell said in a statement. "The top-selling projects have been in-store and targeting homeowners, and that's what the market is looking for at the moment."
Realestate.com.au reported that 231 new apartment sales were generated from January to March – boutique type amenities being the most sought after.
Two-bedroom and two-bath bath towels accounted for 65% of sales. At the same time, 2,800 apartments are under construction on the glitter strip, of which 62% is expected to be completed in 2019.
Campbell said that five of the ten best-selling projects in the country are located on the Gold Coast.
"Developers do a lot of homework and make sure what they bring to the market is what the market is looking for," she said.
The report also revealed that interstate investors accounted for 25% of sales in the new year, up from 42% in the last quarter of 2018.
"Foreign investors claimed nearly a quarter, and shoppers at headquarters have been found to be owner-occupiers accounting for 43% of sales," Real Estate.com.au said. said.
The southern beaches sector, which extends from Mermaid Beach to Tweed Heads, stood out with over 60% of sales for the quarter, the highest level recorded for the region at during the last five years. The stretch represented only 25% of sales during the same period last year.
According to Chris Litfin, director of Knight Frank and project marketing manager in Queensland, most of the sales took place in the south of the country, due to the presence of the stock.
In addition, many developers purchased land between Mermaid Beach and Tweed because of the better values ​​offered by these areas.
"They can provide a product near the beach at a low price," said Liftin at realestate.com.au.
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