A development in the popular Gold Coast area has proved popular with investors.
The $700 million Southport Central development, constructed by the Raptis Group, consists of 788 apartments, in addition to retail space and 11 floors of commercial offices.
According to real estate firm Colliers, the apartments have proved popular with Asian buyers as they look to secure strong long-term returns.
Mark Worth, director of residential project marketing at Colliers International, said: “Chinese investors, who make up the largest percentage of buyers, are securing a home for their children that are studying in the area.”
He added: “The parents intend to hold the property as an investment or sell it in a much improved market in the future.”
The latest figures from RP Data show that housing values in the Gold Coast area have increased by 3.3 per cent over the past 12 months as buyers continue to show interest in the popular region.
Posted by Steve Douglas