The Maroochydore apartment market has undergone some significant change in 2018 and this is set to continue over the next 12-24 months as a number of key developments take shape.
Over the last 5 years, the median sale price in our apartment market has grown by 26%. We believe this modest increase is set to increase even further over the next 24 months due to the expected completion of a number of quality high end residential buildings along our River and Beach Front.
Currently; there are just over 550 new apartments that either have DA approval and/or are due for completion within 2 years. Some will say this may cause a temporary oversupply, however when you realise that the majority of these residential apartments are already pre-sold it really highlights the strength of our apartment market.
The news keeps getting better in that the majority of these new apartments are designed to attract mainly owner occupiers with prices ranges from around $600,000 to as high as $6.0 million.
Owner Occupiers (Residents) living and working in Maroochydore will provide a tremendous ripple effect to our local community that will no doubt support our retail and hospitality industries.
The changing face of Maroochydore is finally upon us; its such an exciting time to see all this development that will no doubt benefit our community as a whole.