Foreign Demand for Gold Coast Investments
Gold Coast has received global recognition as a prospering location to buy a second home.
The Wealth Report has released a yearly analysis of the world’s wealthiest, naming the Gold Coast alongside the French Riviera and the Spanish island of Ibiza.
Matt Whitby, head of the analysis, revealed, “It was the first time the Gold Coast had featured in the report.”
“We believe with a lower dollar and strong foreign demand for investments and second homes, the Gold Coast will increasingly be in play,” Mr Whitby said.
“Tourism demand is up, population growth is rising, and the Commonwealth Games in 2018 has kick-started investment, with the new light rail system and a $200 million airport expansion planned.”
“On a relative price basis, the Gold Coast is also well placed compared with its southern city counterparts.”
Dane Atherton, Harcourts Coastal real estate, has revealed the Gold Coast has become a global favourite with buyers seeking second homes from all across the world.
“China is probably the obvious one. There are a lot of Chinese investors on the Coast. But, we’ve had buyers from Brazil, who have bought sight-unseen, and people from everywhere, really – there is a real international appeal to the Gold Coast.”
Purchasing a lifestyle
The Gold Coast lifestyle is a major appeal that has played a significant role in national second-home buyers looking for an investment or holiday home.
“But now we have the significant property growth to go along with it, which is being recognised globally,” Mr Atherton said.
“Also, the climate we have here makes it favourable worldwide, and the location really is the personification of Australia.”
Economist and real estate moguls have reported the Gold Coast market growth is set to continue. Property market influences of new infrastructure in the lead-up to the Commonwealth Games have powered the market. The region is attracting investors looking to thrive from the higher yields in the build up to 2018.