Big demand for luxury units

BUYERS have splashed $160 million on apartments at luxury Surfers Paradise development Paradiso Place, with the first release completely sold out. All 150 apartments in stage one of tower 1 have been sold, opening up the early release of 106 apartments in stage two of tower 1.

Tower 1 is the first of three residential towers at Paradiso Place, a $940 million landmark development by SPG Land that will transform a 11,483 sqm block between Surfers Paradise Blvd and Ferny Ave, Surfers Paradise.

Demand for apartments in tower 1 Paradiso Place is being attributed to the quality of the development and apartments, the extensive five-star resort lifestyle amenities, and desirable location one block from the beach.

Luxury apartment marketing agency TOTAL Property Group manages apartment sales at Paradiso Place and reports strong market approval, with 97 per cent of apartments in Stage One purchased by people living in Australia.

“Demand for apartments at Paradiso Place has been remarkable, with Australian buyers securing all apartments in Stage One,” said TOTAL Property Group Managing Director Adrian Parsons.

“We haven’t seen this level of demand in over two decades and the Gold Coast property market is showing no signs of slowing down.

“Limited apartment stock available and the continued growth of Gold Coast with its lifestyle and proximity to a capital city attracting a steady influx of interstate migration is motivating buyers to act quickly.

“On the back of a successful campaign for Stage One, we are now rolling out Stage Two and presenting 106 one, two and three bedroom apartments to a market that is hungry for quality residential apartments of the high standard being delivered at Paradiso Place.”

The $110 million stage two includes 11 one-bedroom apartments starting at $591,000, 68 two-bedroom apartments from $842,000, 19 two-bedroom plus multipurpose room apartments beginning at $1,262,000 and 8 threebedroom apartments from $1.6 million.

Only three per cent of the buyers in stage one of Tower 1 Paradiso Place were from overseas, while the majority of apartment sales have been secured by people living in Australia.

SPG Land deputy CEO Eric Chan said the development team was pleased Paradiso Place has been so well received by Australian buyers who have given the development a strong vote of confidence.

“SPG Land has given a great deal of consideration to modern use of apartments and has focused on providing premium lifestyle facilities at Paradiso Place, offering an exceptional residential lifestyle on par with prestigious global standards,” Mr Chan said.