Coast renters can enjoy luxe for less
CASHED-UP renters chasing luxury for less are spoiled for choice on the Gold Coast where there’s been an influx of high-end rental properties hit the market.
From mega mansions to penthouses, owners are discounting rents in a bid to attract long-term tenants in the absence of interstate and overseas visitors.
And the demand is there, according to Blake Farquhar, director of property management at Kollosche Broadbeach on the Gold Coast.
Mr Farquhar said enquiry for high-end rentals was strong among medical workers, “business gurus”, chief executives and those in building and development.
Queensland’s most expensive rental properties are more than $3000 a week and all promise a life of luxury, especially for those in isolation.
A four-level home at 67 Commodore Dve, Paradise Waters was originally advertised for rent for between $5500 and $6000 a week.
However, it has recently undergone a significant price drop and is now available for $4500 a week.
“At that original price point, the demand for this property wasn’t there for this time of year. It’s more applicable at the start of the year when people are moving,” Mr Farquhar said.
Mr Farquhar said the sub penthouse at Soul, a luxury development in Surfers Paradise, was leased at $4000 a week, as was a penthouse in the Vue development Broadbeach.
The increase in luxury rentals is being driven by holiday homes forced into the long-term market after bookings were cancelled due to COVID-19 travel restrictions.
A seven-bedroom waterfront property in Broadbeach Waters, which rents for $7000 in the high season, is being leased to local entrepreneur in Kane Sajdak and his family for $1000 a week.
“We’ve got four kids so there isn’t much to choose from for larger families,” Mr Sajdak said.
“Working from home with the family there too, we really need some space and may as well be somewhere nice.”
Also in Broadbeach Waters, 43 TE Peters Dve was rented out at $2300 a week and a luxe three-level penthouse at Tedder Ave, Main Beach, can be rented for $3500.
Shelley Jeffery, owner of Elite Holiday Homes, had 40 luxury holiday houses on her books and said 30 per cent had been leased to long-term tenants at a discounted rate.
“The tenants are mostly visitors who can’t go home or families who have sold and are waiting for the market to settle down before they buy,” Ms Jeffery said.
The crew from Baz Luhrmann’s Elvis movie, being filmed on the Gold Coast, has rented homes in Broadbeach, Miami and Ashmore.
Other luxury homes have been rented to wealthy foreign students from Russia, Mexico and the US who are unable to return home.
WITH ALEISHA DAWSON & JANELLE ESTREICH