We expect that the Maroochydore Apartment market is about to go through one of its greatest price surges since 2002/03. All of this is on the back of a number of quality prestige apartment developments that are due for construction in 2018.
With strong demand for owner occupiers downsizing from their homes, developers across the Coast have taken note and have shifted their design principles. The focus has moved from targeting investors looking for lower sales prices and maximum rental yields, to creating more livable spaces for residents to call home.
Since the year 2000, the average sale price of an apartment in Maroochydore has grown by 137.4% to an average sale price of $415,000. What has really led this surge in sale price has been the development of new and larger more livable apartments. These apartments are averaging over 150-200m2, offering 3 bedrooms and often fetch sales prices over $1.0m. It has undoubtedly been the million dollar plus apartment market which is the key catalyst for the apartment growth.
With a good selection of quality residential developments in the local area, and typically the majority of apartments sitting in and around a million-dollar price tag, its these developments and their sales that will be sure to lift the average sale price in Maroochydore; and in-doing so create opportunity for price growth in the existing apartment market.
The ripple effect of these projects is adding a compounding economic value to the Maroochydore Community, far beyond the development and construction timeline.
Having more and more high net worth individuals in our community supports all local business including the retail, restaurant and cafe business locally.
When it comes to selling waterfront properties, Ray White Maroochydore real estate agent Niall Molloy is no stranger to listing contemporary waterfront apartments. In fact, for most sales agents, listing properties like this is a dream come true. A dream nonetheless, for apartment complexes along the developing Maroochydore waterfront, ongoing … Read more
Located along one of the most exclusive waterfront streets in Maroochydore, the auction of 4/2 Duporth Avenue saw a tightly held apartment block achieve an impressive sale for one of its units at $875,000. We sat down with the listing agent from Ray White Maroochydore, Keegan Sutton, to learn more … Read more