A big cash splash

This Broadbeach apartment is back in Vogue after a buyer paid more than $3 million to secure it

A GOLD Coast downsizer has paid $3.25 million for a luxury beachfront apartment in Broadbeach.

Tolemy Stevens and Mitch Lambert of Harcourts Coastal found a buyer for the fullfloor residence in Vogue on Broadbeach.

“The buyer was a local Gold Coaster who had downsized from a large home and wanted to move to the beachfront,” Mr Stevens said.

“They wanted to be in an exclusive residential-only building that was quiet and private but still have the space to feel like a house. Vogue on Broadbeach is one of the best options on the Gold coast for that.”

The 322sq m three-bedroom apartment occupies the 11th floor. It an office and butler’s pantry as well as an open plan living and dining area that opens to a north facing balcony. There are only 15 apartments in the tower, each with its own private lift lobby and two car parks.

Mr Stevens said there was not enough stock to meet demand.

“Since September and October last year we just cannot get enough property to satisfy the appetite we’re receiving,” he said.

“We have more qualified and active buyers to work with yet not enough to sell them. When comparing Sydney and Melbourne, the Gold Coast overall is still representing outstanding value.

“I think it’s a testament as to how well the

Gold Coast real estate market is currently performing.”

It comes as new data from realestate.com.au revealed demand for property was up across the city.

Cameron Kusher, Director of Economic Research at REA Group: National said the driving factor behind the significant increases was linked to a lack of properties for sale.

14/5 Broadbeach Blvd, Broadbeach has changed hands for $3.25 million.