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Gold Coast development proves p...

Gold Coast development proves popular

Gold Coast development enjoys strong demand.

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

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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