A local buyer has broken new ground in the Queensland housing market this week, setting a record high off the plan sale of a luxurious four bedroom, three bathroom townhouse. Located within the upcoming CALA project at the beachfront town of Burleigh Heads, the buyer splashed out $4.125 million to secure the prime property in the tight-knit beach community.
Cunningham Constructions, building contractors in the Gold Coast, have been assigned the task of commencing the beachside project initiated by CS Collective with a view to completing it in the second quarter of 2024.
Troy Fitzgerald, the agent from the Ray White Burleigh Group, stated that the buyer got the biggest of the three townhouses, Residence Three which spans a surface of 351.04sq m. Moreover, both of the side-by-side homes will boast exclusive rooftop pools and stylish interiors carefully designed by Kira and Kira.
“I’m sure the buyers of the townhouse in the state, that was reported to realestate.com.au with the hefty sale price of the highest of any off-the-plan transaction recorded, are especially keen to witness the building coming out of the ground and settling in as soon as it is completion. This occurrence displays the strong demand and limited availability of this particular kind of property,” Mr Fitzgerald said.
Mr Fitzgerald stated although investing in a project that has yet to be built carries risks, particularly during the unstable construction industry at present, buyers who carry out adequate due diligence prior to committing can expect to gain great returns.
“Off-the-plan buying can be a bit of an art form, yet the off-the-plan market on the Gold Coast has shown a tendency to fluctuate. Despite this, the recent sale indicates that when someone appreciates what is proposed, even if it is just on paper, they are willing to do whatever it takes to get it,” he said.
“Although one needs to be wise in their selection, if you invest in the right place, paying a record amount can eventually prove to be a wise purchase.”