Buyer Confidence in Luxury Apartments on the Rise

By Bernadette Gray

Market confidence in luxury apartments on the Sunshine Coast is on the rise following a sequence of strong sales for penthouses in Mooloolaba, according to Ray White Mooloolaba’s Greg Clarke.

Mr Clarke said a surge in interest from interstate buyers for penthouse offerings at Mooloolaba’s only five-star beachfront boutique resort, Oceans Mooloolaba, was an encouraging indication of a positive shift in the market.

He said he had recently sold four apartments in Oceans Mooloolaba, including two penthouses which had been on the market for 12 months.

“The appetite for high-end apartments in key coastal locations has returned and we have been buoyed by the signs of greater confidence in the market,” he said.

Mr Clarke said prior to listing units 1004 and 1005 at Oceans Mooloolaba, the properties had been on the market for 12 months and had received no solid interest from prospective buyers.

“Shortly after listing the units I received quite a few interstate enquiries and managed to sell both properties to a NSW buyer who purchased both penthouses consecutively for a total of $2.6 million following one week of negotiating,” Mr Clarke said.

“I then listed units 1002 and 1003 at the resort after being referred by the previous owners of units 1004 and 1005.

“One of my previous clients contacted me about unit 1002, a two bedroom penthouse, and after one week of negotiating, a cash unconditional contract was secured with settlement.”

Mr Clarke said he had also recently sold unit 1003 to a Melbourne investor who purchased the two bedroom penthouse due to its outstanding reputation, superior quality and strategic location.

“I’m anticipating the level of buyer enquiry for similar high-end developments to significantly increase over the coming months,” he said.

Oceans Mooloolaba is located in a prominent position on Mooloolaba Esplanade and directly opposite Mooloolaba beach. The resort offers five star facilities, ocean views and architecturally unique apartments with expansive balconies and open plan living.

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