Beachfront beaut sells in $2.4m deal
AN Australian family living overseas will call the Gold Coast its home away from home after snapping up a beachfront apartment.
They splashed $2.4 million on the Mermaid Beach residence, which had been on the market for more than four years.
Harcourts Coastal agent Tolemy Stevens, who took over the property’s marketing in October, said the Australian expats, initially from Sydney, were sourced from his database.
He knew they were looking for a property where they could step out the front door straight onto one of the Gold Coast’s best beaches.
“They wanted it to have a base on the Gold Coast as a beautiful holiday home for their young family,” he said.
Property records show the apartment hit the market in November 2014 with a $3.4 million price tag.
It was marketed by multiple agents and the price slashed several times before Mr Stevens took over and dropped the asking price further.
It went under contract last month before settling last week.
Mr Stevens said the property was one of many that had been snapped up by interstate and overseas buyers in recent months.
“It just shows how strong the market currently is for that (type of) real estate,” he said.
“This one in particular is quite unique because feels like a home.”
The tri-level penthousestyle apartment is one of five in the Albatross Ave building — there are two apartments below it and one either side.
It has four bedrooms, two bathrooms, multiple balconies, soaring ceilings and a rooftop terrace with a plunge pool and bar.
One of the it almost apartment's most appealing features is its ocean views as it looks like the waves come crashing in right on its doorstep.
Mr Stevens said the property attracted a lot of prospective buyers, with many who had showed interest when it first hit the market returning once the price had been reduced.
Mr Stevens said the Gold Coast market, particularly prestige properties, seemed to have an “insatiable appeal” among interstate and overseas buyers at the moment.
“That’s the sixth deal I’ve done along the beachfront in the past four weeks,” Mr Stevens said.
“Every single one of the purchasers has been from Sydney or Melbourne or overseas.
“They are buying the premium WITH JESSICA BROWN & MIKAELA DAY real estate,” he said. “It’s crazy, I don’t have enough listings to sell the buyers.”
He said the softening markets in Melbourne and Sydney were driving buyers to the Gold Coast.
According to latest CoreLogic data, the median sale price for a house in Mermaid Beach is $1.38 million and $425,000 for an apartment.