ACA reported that before the Global Financial Crisis (GFC) the houses mentioned were the houses that set sales records, beautiful private beach front mansions the best that money could buy. But why are the prices so low? Some mansions located in Surfers Paradise were recorded to sell for 2-3 million, which is considerably low compared to their asking price of 5 million.
It seems to be that the Gold Coast luxury home market has hit its lowest prices yet since the GFC. It can be predicted that prices will begin to increase with the current exposure that the Gold Coast market is receiving, it is certain that investors will start flocking and competition will begin to increase.
Professionals Agent, John Newland said ‘Many of these homes can’t be built for the price to buy them!’ He continues with, ‘some of these homes are spectacular; they’ve got the latest design, the latest electronic equipment, basements, enormous in size and are just the epitome of luxury!’
Over all this can prove that ‘The Gold Coast is turning a corner and is a great place to invest for the future’ as stated by Newland.