MEGA apartments, the size of houses, are a hot property on the Gold Coast, and a new group of buyers, the so-called rightsizers, is starting to trend.
While the demand for rightsizing – the declining trend for living in luxury apartments – is strong across the country, it is exploding on the coast, according to new research by Knight Frank.
It is Rightsizing – Australian Prime Residential Insight 2020 The Gold Coast has reportedly had the highest share of home sales, between $ 3 million and $ 5 million, in Australia’s largest cities over the past three years to September 2019, at 26 percent.
Brisbane followed with 22 percent, Sydney with 21 percent.
The city is also said to have the highest proportion of three-bedroom apartments built across the country.
Chris Litfin, business development manager for residential project marketing at Knight Frank, said the rise of new three-bedroom apartments across the Glitter Strip is in response to increased demand from buyers.
“Developers get smart and deliver products with group title rights that work
a wide range of groups, ”he said.
“In the past, the product was only intended for retirees, but now we see organic demand from busy families and younger buyers.”
He said rightsizing is about buyers getting more for their money.
“The beneficiaries often buy three bedrooms even though they only need two,” he said.
“The proximity to traffic, lifestyle infrastructure and health services are important prerequisites for all beneficiaries, including active pensioners, families and younger buyers.
“They also value accessibility and maintenance-free open spaces such as parkland or the
“Developers recognize this and are looking for websites in these locations.”
Although the gold coast housing market offered the best value in the country, it couldn’t guarantee it would stay that way.
“While developers are affordable, they do deliver three-bedroom products. However, if the affordability equation reverses, more two bedroom products are likely to be restored. ”
Kyia Anderson, Managing Director of Marketing Projects South East Queensland, said more buyers are considering living in an apartment on the Gold Coast.
“People who want a three-bedroom apartment are usually people who come from a house and still want to live in a large space, but they want the comfort of living in an apartment and all the amenities and infrastructure nearby “, she said.
“We still have a lot of company professionals who have little time and no additional maintenance, as well as young families.
“Then there is the wave of downsizers who want the high-end buildings on the beach.”
Julie Love recently moved to a new three bedroom terrace house in Vue in Robina.
She said the location and low-maintenance lifestyle were important factors when she decided to move out of Ballina to be closer to the family.
“I look forward to the Robina City Parklands taking shape,” she said.
“Now that I’m retired, I can go there from home and enjoy it every day.
“When the parkland opens in the middle of next year, I’m looking forward to spending a lot of time there with my daughter and her family. I’m sure my little granddaughter Billie will just love it there.”
“We will undoubtedly spend all our free time picnicking, going for walks, cycling and maybe even kayaking on the waterways.”
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