Strong sales signal turn in property tide
6 September, 2013
Strong recent apartment sales may signal that the tide is turning for the Sunshine Coast property market, with Maroochydore-based development Emporio recording a substantial 50 apartment sales in just seven months.
Reed Property Group Sales and Marketing Manager Jason Kollanyi said the impressive sales were indicative that the market was now inching its way upwards.
“Independent property valuation and advisory group Herron Todd White has been reporting that the Sunshine Coast property market has been at the bottom of the property cycle for some time now,” Mr Kollanyi said.
“It was only a matter of time before we started to experience an upswing and the keen interest we have seen in Emporio certainly indicates strong signs of movement in the market. Investors, in particular, are looking for value-for-money properties in the right location and the Maroochydore CBD is certainly proving attractive.”
“I think it’s safe to say Emporio has easily been the best-performing development in the Sunshine Coast’s apartment market this year.”
Mr Kollanyi said the strong sales numbers could also be attributed to the apartments in Stage Two being cash-flow positive after tax for investors.
“Generally, investment properties are purchased with a focus on generating returns over the long-term. Emporio investors are certainly set to benefit in this way due to Emporio’s central location and the major infrastructure projects nearby. Investors are also able to reap positive returns in the short-term as a result of the tax incentives on offer,” Mr Kollanyi said.
“Given the current economic climate, investors are looking for opportunities that don’t put too much strain on the back pocket, so with positive returns from year one it’s no surprise sales volumes have been so high. We have had interested parties from across Australia who all see the Sunshine Coast as an attractive option for capital growth given the projections for the region in the coming years.”
And Mr Kollanyi is not the only one singing the development’s praises — renowned property commentator Michael Matusik also highlighted the mixed-use development’s affordability, location and design as prime reasons for investors to add Emporio to their investment portfolio.
“3 Emporio Place is an ideal opportunity for private investors looking for a ‘lock and leave’ investment for themselves; or possibly for self-managed superannuation funds,” Mr Matusik said.
“The development’s proximity to ‘hard’ infrastructure like transport networks, office space and education institutions is a good indication that investors can expect strong capital growth in years to come.”
Apartments at 3 Emporio Place are priced from just $267,500 — approximately 30 per cent less than other new apartment projects in the region.
For more information about the Emporio development and the tax incentives on offer, visit the on-site sales office at 3 Emporio Place, Cnr Maroochy Blvd and Plaza Parade, Maroochydore or contact Nick Criss on (07) 5451 8500.
Ends.
Media contact: Maya Gurry – Fresh PR & Marketing
P: 0410 109 102 E: maya@freshprm.com.au
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