Apartment Glut coming...

Would like to see some stats on the number of non residents purchasing gold coast specific units.

We work with 2 large development firms in HK and do a lot of their non resident lending - these firms sell stock all over Australia but there is a huge push in Gold Coast developments.

Now with all the changes in non resident lending - it will be interesting to see what impact this will have on not only GC developments but also developments in other areas, Brisbane, Sydney, Melbourne, etc.

Its not going to be an issue is say 5% of non residents were purchasing these units but my feeling is that the % is much much higher.

 

I really don't know the stats. I would think that some apartments appeal (and are more heavily marketed to Chinese), others to HK'er and Singaporeans, and others to locals and interstate investors. For example I would think a lot of the developments in Southport are focused on Chinese (denser living, further away from beach, China-town, shopping, focus on University and ease of access to Brisbane, whereas the other groups are probably more attracted to Broadbeach and perhaps also boutique developments around Burleigh etc.

Overall, the very best value in my mind is beachside of highway Mermaid beach but that is pretty much not available to foreign buyers unless for very limited supply of new lowrise apartment developments.

 

Older unit blocks, which ones do you mean?