Interstate sea-changers drive strong sales at 26 Vista, Surfers Paradise apartments
Originally published on www.urban.com.au/
Interstate migration to the Sunshine State continues to grow post-pandemic, with global developer MRCB International’s Gold Coast project 26 Vista recording an influx of buyers from New South Wales and further down south.
Since launching to market earlier this year, 26 Vista is averaging $20 million in sales each month, with two-thirds of all sales coming from interstate and international buyers seeking a coastal lifestyle switch.
The majority of purchasers are between the ages of 30 to 60, with 30 per cent of sales to date coming from New South Wales alone.
A recent CBRE report found that the Gold Coast experienced the second-largest population growth among major Australian cities at 2.2 per cent, which is largely being led by “metro-movers” from Sydney and Melbourne who are seeking a change in lifestyle.
According to the ABS, close to 87,000 Australians moved to Queensland between June 2020 and June 2022, with this trend likely to increase over the coming years.
Gavin Smith has been holidaying on the Gold Coast for a number of years and is now ready to make the move from Hobart with his wife after purchasing a residence at 26 Vista on level 34.
“We have been holidaying on the Gold Coast for many years and watched it evolve over time," Smith said.
"We purchased off the plan three years ago and sold before it was built, so the seed was always there and now, we have purchased at the amazing 26 Vista.
“The Gold Coast City Council has invested well in surrounding infrastructure to accommodate increasing demand.”
MRCB International CEO, Ravi Krishnan said the group is thrilled to be making a mark on Australia’s fastest-growing city.
“We noticed the growth in interstate migration to the Gold Coast from the southern states and the high demand within the region. This, coupled with the forecasted lack of dwelling supply, drove our decision to invest in Surfers Paradise. The fact that the site that we purchased was in an enviable location influenced the decision," Krishnan said.
“Inevitably, the Gold Coast will continue to grow as a region. The trend for footloose industries to locate themselves in areas with beautiful weather, tourism opportunities, and solid employment, has meant we couldn’t afford to miss this opportunity to invest in the Gold Coast."
Recent council population data forecasts that by 2041, the Surfers Paradise population will have nearly doubled and it is estimated that of that, close to 85,900 people will live in high-rise towers.
Reaching 51 storeys high and designed by local architecture firm, DBI Design, 26 Vista offers a range of apartments from one, two and three-bedroom floorplans, each offering views over the ocean, towards the river, hinterland and beyond.
Residents will have access to a plethora of amenities, including an internal wellbeing precinct featuring a spa, gym, outdoor yoga space, pool, sauna and steam room and a residents lounge.
For residents located on or above level 33, the highest residential sky pool in the Gold Coast awaits on Level 51, presenting views that stretch out across the ocean.
Last month, MRCB International announced it had secured funding from MBSB Bank with the financial backing signifying MRCB International’s commitment to delivering 26 Vista.
The project is due to be completed in 2026.