Sweet spot for buyers who are priced out of the market

PALM Beach remains the epicentre of the Gold Coast’s roaring property market as interstate developers cash in on the insatiable appetite for luxury product on the southern beachfront.

Sydney-based Abadeen Group is the latest developer to reap the realty rewards, clocking a 50 per cent sellout of its Villea apartments just weeks after hitting the market.

The developer’s first foray in the Gold Coast has dished up a winning formula for attainable beachside luxury, hitting a sweet spot for buyers that had previously been priced out of the market.

“Apartments under $750,000 have had a strong uptake from first home buyers, while units over $850,000 have been snapped up from owner occupiers who love the protected northern views to Burleigh Headland,” said CBRE Director of Residential Projects, Nicholas Clydsdale.

“I think the rapid sales success we’ve had stems from the considerable value buyers recognise in Villea, with a high-end design and central positioning that offers an extremely reasonable entry point into the Palm Beach market without having to compromise on quality.”

Villea’s fusion of luxury, location and perspective captivated a unique composition of buyers exclusively from Sydney or local Queensland surrounds.

“Sixty-five per cent of purchases so far have come from Queensland locals, but a considerable 35 per cent of buyers are Sydney residents, which is a rather impressive testament to Abadeen’s reputation which has pursued them into the Gold Coast marketplace,” said Mr Clydsdale.

“I think whether you’re familiar with the Gold Coast or not there’s no denying Palm Beach is the precinct with it all, and Villea is sat right at its core.”

The 8-storey structure on Mawarra St will house 69 two and three-bedroom beachside apartments designed by BDA Architecture. Prices start at $675,000.