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Building during the Gold Coast’s construction boom: Developer speaks out

Market Insights
1 month ago
4 minutes

Queensland is experiencing a construction boom, led by demand from the pandemic for its idyllic lifestyle and with 2032 fast approaching. The Gold Coast, the state’s beloved seaside metropolitan, is set to welcome an array of new developments – a result of this demand for its sensational beaches and weather – an Australian’s idyllic every day.

Boasting decades of experience developing product on the Coast, renowned property developer Raptis spoke to AD about what exactly makes the Glitter Strip such a hot apartment property market and what we can expect from it.

The team also gives us an inside look into their new luxury apartment development in vibrant Main Beach.

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Pearl sits on sought-after Main Beach Parade. Click here to learn more.

Raptis’ new apartment development occupies a coveted Main Beach address just steps from the sand. Named Pearl, the luxury development comprises 84 beachside residences with penthouse-style proportions and design. With 360-degree views from the ocean to the hinterland, Pearl truly epitomises Gold Coast living.

When asked what makes the Gold Coast such a desirable city to buy and live in, Evan Raptis, Joint Managing Director of Raptis, replied, “The Gold Coast is a hot apartment market right now with people downsizing combined with strong interstate migration.

“For example, someone purchasing in Sydney in the likes of Bondi is paying $100k per sqm, however, at Pearl Main Beach, you are paying $18k per sqm.

“Interstate buyers are seeing good value for money.”

 

Shifts in the GC market

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Expansive ocean and city views from Pearl Main Beach’s rooftop pool. Click here to learn more.

The pandemic has, indeed, led to an unexpected property boom in several of Queensland’s lifestyle locations, the Gold Coast being one of them. Australians living in Melbourne and Sydney have realised the Coast’s lifestyle potential, selling their suburban or city home and purchasing a luxurious beach apartment on the Gold Coast.

Yet, the seaside city has seen shifts in the property market for more than just the last few years, stretching decades.

“The Gold Coast is a self-sustainable market, and the city has grown tremendously over the past decades,” Evan observed.

Market acceptance for apartments has increased, and developers such as Raptis have astutely catered to this with brand-new luxury residential developments.

 

The success of apartment developments on the Coast

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Penthouse-style floorplans and never-ending coastal views at Pearl Main Beach. Click here to learn more.

With high-quality properties popping up throughout the Coast, it is no wonder the market has accelerated in the way it has. Coupled with the exceptional lifestyle on offer, these residences are inherently valuable.

“Location and amenities within the development contribute to the success along with the lifestyle it can provide,” Evan revealed.

“This is appealing to the end consumer.”

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Come home to opulent interiors backdropped by ocean vistas at Pearl. Click here to learn more.

Knowing that location and amenity are huge drivers of an apartment project’s success, Raptis has put together Pearl Main Beach to boast precisely that – an address just moments from the sand and comprising amenities galore.

“Pearl’s location and proximity to the ocean, with only 50 steps to the beach, is a huge drawcard,” said Evan.

“There were no other sites like this on the market at the time.

“The other appealing factor to the site is an easement on the opposite side, meaning this site’s view will never be built out.”

With construction well underway, buyers can look forward to the beachside building completing soon.

“People looking to purchase within three to six months can move in soon versus having to wait longer than 12 months for the building to be complete,” Evan said.

“Another appealing factor is the boutique feel of the building with only four units per floor to foster utmost privacy, yet residents remain within walking distance of the beach and local shops.”

 

Future trends to anticipate

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Pearl rises 30 storeys, just steps from the sand. Click here to learn more.

Looking ahead, Raptis predicts that high-level amenities and key locations will be the Gold Coast’s future trends.

“Additionally, we anticipate a shift in the market when construction costs go down, making city apartments more affordable,” said Evan.

The Gold Coast’s luxury apartment market is strong and is projected to strengthen, spurred by economic growth created by the Olympics and the growing population of new residents migrating to Queensland from the southern states and overseas.

Prestige apartment developments like Pearl Main Beach build on the market’s strength, elevating the idyllic Gold Coast lifestyle for those lucky enough to call this address home.

Three-bedroom residences are still available at Pearl, priced from $1,850,000.

For more information or to enquire about Pearl Main Beach, click here.