RESIDENTIAL RESEARCH - Knight Frank
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RESIDENTIAL RESEARCH LIVING & STUDYING BUYING PROPERTY WHY INVEST?
Contents
1. Gold Coast—
The transforming city
page 2
2. Living on the Gold Coast
page 3
proximity to Brisbane (approximately an
3. Studying on the Gold Coast Destination hour by car), many local residents make
page 7 their way down to the Gold Coast for a
Gold Coast weekend getaway. Many also visit from
4. Housing on the Gold Coast The Gold Coast is known as being interstate and Asia for a long weekend of
page 10
‘Famous for Fun’ with many local and activities.
5. Renting on the Gold Coast international events held throughout the
page 11 year. It’s also known for being Australia’s Surfers Paradise is also located on the
theme park capital. Many of Australia’s Gold Coast, with fine dining restaurants,
6. Buying on the Gold Coast largest theme parks are located on the cafés and bars with a pedestrian-friendly
page 12 Gold Coast and within close proximity to shopping district.
each other. The destination is popular
7. Buying as a First Home Buyer with families, catering to all age groups Many international, flagship and luxury
page 13
and particularly in school holiday times. brands are located at Pacific Fair
shopping centre, in Broadbeach,
8. Buying as a Foreign Investor
page 14 The Gold Coast accommodates a vast including a dining and cinema precinct.
array of renowned restaurants, art Marina Mirage in Main Beach also offers
9. Owning on the Gold Coast galleries, independent fashion houses luxury shopping, with high-end fashion
page 19 and vibrant retail strips. Given the close and eateries.
10. Selling on the Gold Coast
page 20
Feature: International Visitors to Queensland, by Country of Residence
10 reasons to invest on the Total number, year ending September 2018
Gold Coast
page 22
China
New Zealand
U.K
U.S
Japan
Other Countries
Other Europe
Germany
Taiwan
Korea
India
Hong Kong
Singapore
Canada
Other Asia
Malaysia
France
Scandinavia
Italy
Netherlands
Switzerland
Indonesia
Thailand
0 100,000 200,000 300,000 400,000 500,000 600,000
2
FOCUS ON GOLD COAST Q1 2019 RESEARCH
Carrara Markets, with fresh produce to
homewares across 10 acres, are Distribution of Population
Greater cities (excl. Gold Coast LGA), Jun-17
Australia’s biggest permanent markets.
FAST FACTS
While Australia’s largest outlet centre
Harbour Town, includes clearance, brand, 6,000,000 GOLD COAST
plus specialty stores. 5,000,000
Located in South East
Queensland, along the East
International 4,000,000
Coast of Australia.
Visitors 3,000,000
Australia’s six largest city, with
The number of international visitors to 2,000,000 approximately 592,500
Queensland grew 4.6%, to total residents estimated living in the
1,000,000
Gold Coast local government
2.8 million, in the year ending September
area in 2017.
2018. The most number of international 0
Sydney
Melbourne
Perth
Canberra
Hobart
Adelaide
Brisbane
Darwin
Gold Coast LGA
visitors came from China (502,000), New Geographic area of 1,330 sqm.
Zealand (485,000), United Kingdom
(235,000), United States (227,000) and Summer months are relatively
Japan (206,000) as shown in Figure 1. hot and humid (mean
maximum 25°C) with warmer
winters (mean average 15°C).
Compared to a year earlier, in
Queensland, international visitors from Most daily sunshine is nine (9)
the Netherlands grew by 27.2% in the hours in the month of
year ending September 2018, while Korea December.
and Singapore increased by 17.1% and Projected Population
13.9% respectively. Gold Coast operates under the
According to Queensland Treasury
Australian Eastern Standard
projections, the Gold Coast LGA Time (AEST) time zone at all
population is projected to grow annually times of the year.
by 2.2%, to 866,650 persons by 2036.
From the Gold Coast, average
flying travel time is
approximately eight (8) hours
to Singapore and eight and a
half (8.5) hours to Kuala
Lumpur. From Brisbane airport,
Projected Population, average flying travel time is
Gold Coast LGA nine (9) hours to Jakarta and
Estimated no. of total persons, year ending June Hong Kong, 11 hours to
Shanghai and 13 hours to
Gold Coast’s 1,000,000
Beijing.
Demographic Located in the ‘Sunshine State’
900,000 and home to one of the most
Profile renowned natural wonders of
800,000 the world—the Great Barrier
Population Reef.
700,000
Gold Coast LGA population has been
significantly rising. Over the year to 30 600,000
June 2017, an increase in the estimated
resident population was recorded at 500,000
2.7% to 592,350 persons.
400,000
According to the Australian Bureau of 300,000
Statistics (ABS), this is well above the
overall Australian population growth of 200,000
1.6%.
100,000
When compared to the Australian capital
0
cities, the Gold Coast LGA population is 2012 2016 2021 2026 2031 2036
ranked the 6th largest, ahead of
Canberra, Greater Hobart and Greater
Darwin.
3
Age Distribution Technicians and trades workers (14.9%),
clerical and administrative workers
The Gold Coast LGA residents were
(13.6%) and managers (12.4%) were the
primarily young to middle aged at the
next most common occupations.
time of the last Census in 2016.
Approximately 33.2% of the population
Of all the employed people in the Gold
was aged between 15 and 39 years old;
Coast LGA, 4% worked in hospitals.
compared to the national average of
Other major industries of employment
GOLD COAST 33.9% for this age group. The median
included cafés and restaurants (3.1%),
ANNUAL EVENT age of the population in the Gold Coast
accommodation (2.6%) and supermarket
LGA was 38 years, similar to the national
CALENDAR average. Children aged 0-14 years
and grocery stores (2.4%).
comprised 18.1% while people aged 65+
JANUARY years made up 16.4% of the population. Travel to Work
Magic Millions Polo, Sales &
Racing Carnival In the Gold Coast LGA, at the time of the
Australia Day celebrations
Multiculturalism Census 2016, the most common
FEBRUARY methods of travel to work for employed
The Gold Coast LGA population
Sand Safari Arts Festival people were by car, as a driver (68.9%).
Gold Coast Chinese New Year comprised 36.1% of people being born
Other responses were worked at home
Festival outside of Australia, higher than the
(5.9%), car, as a passenger (4.8%),
Gold Coast MS Swimathon national average of 33.3%. The most
walked only (2.6%) and by bus (1.1%).
MARCH prominent countries of birth include New
Australian Surf Life Saving Zealand (8.0%), England (5.2%), China
Championships On the day, 4.2% of employed people
(1.3%), South Africa (1.2%) and Japan
used public transport (train, bus, ferry,
APRIL (0.8%). In addition, approximately 33.4%
tram/light rail) as at least one of their
Cooly Classic Ocean Swim of Gold Coast’s residents’ parents were
Gold Coast Film Festival methods of travel to work and 75.2%
born overseas, lower than national (34%).
Quicksilver Surf Pro used car (either as driver or as
passenger).
MAY
Surfers Paradise LIVE music Religion
festival The Catholic religion was practiced by
Sanctuary Cove International
Boat Show
20.8% of Gold Coast residents at the Key Employment
time of the Census 2016, this was
Blues on Broadbeach Music
Festival followed by Anglican at 16.1%, then
Hubs
JUNE Uniting Church with 3.9%. No religion
was the most common response on the
Premier Invitational Soccer Commercial
Tournament Gold Coast with 31.8% of the population.
Australian Open Bowls The distribution of employment
opportunities are wide across the Gold
JULY
Gold Coast Airport Marathon
Language Coast, although there are pockets of
Groundwater Country Music Other than English, Mandarin (1.7%) is concentrated areas for office workers.
Festival the most common language spoken in a
AUGUST Gold Coast household. Other typical Southport is the largest office market on
Gold Coast Festival of Lights languages include Japanese (1.0%), the Gold Coast, followed by Robina-
SEPTEMBER Korean (0.6%), Spanish (0.6%) and Varsity Lakes, Bundall, Surfers
Swell Sculpture Festival Cantonese (0.5%). Paradise and Broadbeach.
Most accessible by: train, light rail, bus
OCTOBER
Supercars Gold Coast 600 and car.
Harrigans Rod & Custom Car
Education
Show In the Gold Coast LGA, 30.5% of the
Coolangatta Gold Endurance population were attending an educational
Industrial
Race institution at the time of the 2016 Census. Industrial areas are more spread across
NOVEMBER Of these, 21.1% were in a university, the local government area varying from
Australian PGA Championship tertiary, technical or further education warehouses and industrial unit estates.
Gold Coast Seniors Health and Most accessible by: bus, car and/or train.
institution.
Lifestyle Expo
DECEMBER Suburbs along the Pacific Motorway
Mayor’s Christmas Carols & Work include: Yatala, Stapylton, Ormeau,
Markets
The most common occupation of Gold Pimpama, Coomera and Nerang.
Gold Coast New Year’s Eve
Party Coast residents are in Professional Suburbs on the Gold Coast Highway
Services—at 18.3% compared to the include: Arundel, Molendinar, Ashmore,
national 22.2% average. Southport, Burleigh Heads, Currumbin.
4
FOCUS ON GOLD COAST Q1 2019 RESEARCH
Gold Coast
Major infrastructure network
5
6
FOCUS ON GOLD COAST Q1 2019 RESEARCH
Schools Universities single student visa regardless of their
chosen course of study and the Student
Schools in Australia generally comprise a Most universities have a main campus Guardian Visa—Subclass 590 where
mix of local and international students. with several smaller campuses located student guardians can apply for the new
The education system is broadly divided across multiple states and territories; in Student Guardian Visa.
into primary (aged 5-12) and secondary CBD, metropolitan and regional areas.
(aged 13-18). There are two main types This provides a wide range of options All students and student guardians will
of public and private schools: when studying in Australia with many generally be required to lodge their visa
universities also setting up campuses application online by creating an
based in major international cities. ImmiAccount.
Public Schools
Public schools are financially and
administratively operated by the State
Government and provide free education
International
to domestic students. First preference is Students
normally given to those living within a Reflecting the good reputation
particular catchment area from the internationally, universities in Queensland APPLICATION
school. Student visa holders must pay a accommodate a large international PROCESS FOR
fixed fee for each year of education, student base. International student
dependent on the type of visa held.
INTERNATIONAL
enrolments in Queensland increased
11.2%, to 123,750, in 2017. Higher STUDENTS
Selective public schools are financially Education had the most demand in
and administratively operated by the student enrolments with 45,800, while
State Government. Selective public international enrolments in Schools
TO SCHOOL
schools are regarded as more prestigious represented a total 5,650 students. Expression of interest form: must
due to the academic selective nature. be completed prior to the school
Students must sit academic examination Across all education sectors, the largest year in order to guarantee a
and excel in order to be offered a group of international students enrolled in position for the student.
position from the respective school. Queensland are from China (26,700),
India (11,750), Brazil (11,250), South Wait for offer: If all requirements
Additionally, these selective public Korea (7,200) and Colombia (5,350). are met, the school will offer a
schools do not usually limit their intake to formal placement in writing.
catchment areas. Due to their public The application process for international
nature, student visa holders must pay a students applying to Australian Apply for a Student Visa: With the
fee for each year of education. universities is similar to local students. formal school offer, students can
The length of the application process can then apply for the SSVF online.
Private Schools often be longer than local students, as
more information is required before
Independent schools are financially and
acceptance.
administratively privately operated. TO UNIVERSITY
Independent schools therefore hold more Apply directly online: through the
Most universities will require an IELTS
control over the quantity and quality of university website and provide all
(International English Language Testing
teachers, classroom sizes, amenities and required evidence. In most
System) examination conducted, an
co-curricular activities. Fees for instances this is prior education,
internationally recognised education
independent schools are usually high, but financial and English language
qualification and a portfolio of previous
can be considered to provide an competence.
work experience where applicable.
investment for superior education and
amenities to students. Wait for Offer: If all requirements
The Simplified Student Visa are met, the university will offer a
Religion-based schools hold faith at the Framework (SSVF) formal placement in writing.
core of their education—however they The Simplified Student Visa Framework
continue to follow the state government (SSVF) is designed to make the process Apply for a Student Visa: With the
education curriculum. These religion- of applying for a student visa in Australia formal university offer, students
based schools are usually non- simpler to navigate via two subclasses: can then apply for SSVF online.
government, and thus often have higher
fees than government subsidised Student Visa—Subclass 500 where
schools. international students can apply for a
7
Private Schools for International Students, Gold Coast Sample of private schools registered to accept international students, 2018 Suburb School Religion Gender Year Levels Arundel A.B Paterson College Non-denominational Co-ed pre-K-12 Ashmore Trinity Lutheran College Christian Co-ed K-12 Benowa St Kevin's School Catholic Co-ed pre-K-12 Carrara Emmanuel College Multi-denominational Co-ed pre-K-12 Coomera Saint Stephen's College Catholic & Anglican Co-ed pre-K-12 Coomera Coomera Anglican College Anglican Co-ed pre-K-12 Daisy Hill John Paul College Ecumenical Co-ed pre-K-12 Jimboomba Hills International College Non-denominational Co-ed pre-K-12 Kingston Groves Christian College Christian Co-ed pre-K-12 Merrimac All Saints Anglican School Anglican Co-ed pre-K-12 Mount Tamborine Tamborine Mountain College Non-denominational Co-ed 7-12 Mudgeeraba Somerset College Inter-denominational Co-ed pre-K-12 Ormeau Livingstone Christian College Christian Co-ed pre-K-12 Park Ridge St Philomena School Catholic Co-ed pre-K-12 Reedy Creek King's Christian College Non-denominational Co-ed pre-K-12 Reedy Creek Hillcrest Christian College Inter-denominational Co-ed K-12 Reedy Creek Gold Coast Christian College Seventh Day Adventist Co-ed K-12 Southport The Southport School (TSS) Anglican Boys pre-K-12 Southport St Hilda's School Anglican Girls pre-K-12 Upper Mt Gravatt Clairvaux MacKillop College Catholic Co-ed 7-12 Waterford Canterbury College Anglican Co-ed pre-K-12 Yatala Rivermont College Non-denominational Co-ed pre-K-12 8
FOCUS ON GOLD COAST Q1 2019 RESEARCH
Universities, Gold Coast
Universities accepting international students
Annual Average
World Australian Number of International
Adjusted International
University Name Ranking Ranking International Students % of
Graduate Salary Student Fees
2017 2017 Students Total Students
Griffith University 353 8 $48,531 8,432 19% $24,000
Bond University 880 13 $49,204 1,763 35% $33,000
Southern Cross University 1,054 40 $47,728 1,921 14% $21,000
Definitions
World Ranking is calculated by averaging the ranking produced by QS World University Ranking, the Shanghai Academic Ranking of World Universities and Webometrics web publishing
rankings.
Australian Ranking is calculated from the combined score for World Ranking (reputation), Graduate Satisfaction (ratings) and Adjusted Graduate Salary (results).
Adjusted Graduate Salary is a measure of how well students are doing in the job market some months after graduating based on graduate salaries, rates of unemployment and the
proportion of students who go onto further study.
Annual International Student Fees are an estimate only. It is highly recommended to engage directly with the Australian university for information on the course and fees applicable.
Further information is available at univeristyreviews.com.au
The Gold Coast accommodates three universities accepting enrolments from both local and international students. With the linking of
the G:Link light rail station at Helensvale railway station, has allowed better connection of the Gold Coast with Brisbane. For those
interested in applying to study for a course in Brisbane, these universities are listed below.
Universities, Brisbane Campuses
Universities accepting international students
Annual Average
World Australian Number of International
Adjusted International
University Name Ranking Ranking International Students % of
Graduate Salary Student Fees
2017 2017 Students Total Students
University of Queensland 60 6 $49,752 11,236 23% $34,000
Queensland Uni. of Technology 292 11 $47,548 7,525 16% $28,000
James Cook University 377 16 $53,404 6,211 29% $25,000
University of Southern Queensland 805 22 $52,191 4,548 18% $21,000
University of the Sunshine Coast 1,535 24 $47,046 1,921 14% $21,000
Definitions
World Ranking is calculated by averaging the ranking produced by QS World University Ranking, the Shanghai Academic Ranking of World Universities and Webometrics web publishing
rankings.
Australian Ranking is calculated from the combined score for World Ranking (reputation), Graduate Satisfaction (ratings) and Adjusted Graduate Salary (results).
Adjusted Graduate Salary is a measure of how well students are doing in the job market some months after graduating based on graduate salaries, rates of unemployment and the
proportion of students who go onto further study.
Annual International Student Fees are an estimate only. It is highly recommended to engage directly with the Australian university for information on the course and fees applicable.
Further information is available at univeristyreviews.com.au
9
The Gold Coast is well-placed for those and residential areas located directly
who aspire to still own the ‘Great Distribution of Tenure, Gold Coast north of Railway Street and south of
Australian Dream’ - a house standing on % of private dwellings Queen Street.
a ‘quarter acre block’ - for a relatively The PDA contains a diverse mix of
affordable price. Although with our fast- uses centred around Nerang and
Scarborough Streets.
paced lives, many are now choosing low
maintenance living and opting for Includes retail, commercial, financial,
educational, legal and community
apartments in complexes with high
uses.
amenity. This is becoming particularly
The residential areas offer a diversity
popular with downsizing households. of dwelling type and size.
To deliver new well-planned
Dwelling Types communities ‘growth by consolidation’
Standalone houses (also known as in ‘Shaping SEQ’, has been identified in
landed) do continue to be the most key locations including:
dominant dwelling type in the Gold Coast
LGA, representing 58% of all dwellings.
Light rail urban renewal corridor:
Southport (Gold Coast CBD), Surfers
This trends lower than the national RENTED Paradise, Broadbeach, Helensvale.
average of 73% given the greater volume
Gold Coast rail transport corridor:
OWNED WITH MORTGAGE
OWNED OUTRIGHT
of higher density properties. NOT STATED Robina, Nerang, Helensvale.
OTHER
Gold Coast Health and Knowledge
Similarly, semi-detached, row or terrace Precinct: Robina, Varsity Lakes.
houses and townhouses with a compact Future passenger transport corridor
backyard, comprised a 21% share, above between Broadbeach and
the national average of 12.7%. Coolangatta.
A little under 20% of dwellings are flats or Considering ‘growth by expansion’ has
apartments – compared to the national been identified in key locations
including:
average of 13%. This continues to
increase demand for public parklands
Growth precincts
and shared facilities. The Queensland government has Coomera
identified locations across the Gold Coast Pimpama
suitable for development for new homes Upper Coomera
Ownership and jobs.
In Australia, most residential dwellings
are purchased as freehold property, that
Gold Coast sites identified for specific
accelerated development as Priority
Prime properties
is, the land and building are owned Prime properties, considered the top 5%
Development Areas (PDAs) by the state
outright, in perpetuity, under the Torrens of the residential market by value, are
government, with a focus on economic
Title system. mostly located close to, or dotted
growth currently include:
around, Gold Coast beaches or river
The same exists for Strata Title, although Parklands fronts. There are many well-respected
ownership allows individual ownership of private schools on the Gold Coast
part of a property (or ‘lot'), combined with The development of the PDA continuing to attract local and
shared ownership in the remainder, or supported the delivery of the Gold international families to the coastal city.
common property, through a legal entity Coast 2018 Commonwealth Games
Village (CGV).
called the owners corporation (see further Mermaid Beach is considered the most
information on page 19).
Promoting longer-term development expensive suburb on the Gold Coast,
opportunities on the site.
and fourth in Queensland, by median
Across the Gold Coast LGA, on the night Southport value, according to CoreLogic. This is
of the Census 2016, 26% of residential followed by Surfers Paradise,
private properties being lived in were The PDA is located over the existing Broadbeach Waters, Clear Island
owned outright, whilst 34% were owned Southport CBD. Waters, Bundall, Paradise Point,
with a mortgage. The remainder (37%) Includes the former Gold Coast Runaway Bay, Coolangatta and
were being rented from a landlord. hospital site, Broadwater Parklands Tallebudgera Valley.
10FOCUS ON GOLD COAST Q1 2019 RESEARCH
The process of renting (also known as in a trust. At the termination of the
leasing or letting) a residential property tenancy agreement, if the property is
can vary in each state, but generally the vacated and left in a suitable condition,
main factors for a tenant to consider are the bond will be repaid in full to the
outlined below. tenant.
Tenancy Agreement Utility & Service Charges
A tenancy agreement (property lease) is a Responsibility for utility charges will be
contract where one party conveys stipulated within the tenancy
property to another for a specified period agreement—this is not always covered by
of time, in return for a regular payment. the landlord. Although, the landlord must
When leasing out a property, the owner pay for the actual installation and initial
receives an income, but there are connection costs for electricity, gas, oil
maintenance costs and responsibilities and water supply. If these need replacing,
for the landlord. then the landlord must replace them to
the minimum efficiency standards.
Before signing a tenancy agreement, a
tenancy application must be submitted to
the real estate agency (property manager)
Inspections & Repairs
with proof of identity, ability to meet Throughout the tenancy, the property will
rental payments and good references. be periodically inspected by the landlord
or property manager. A minimum of
seven (7) days notice will be given with
Rent the purpose of these inspections being to
As stipulated in the tenancy agreement, check the maintenance of the property.
the tenant agrees to regularly pay rent to
the landlord. Most times this is Repairs to the property that are due to
conducted via a property manager and the normal wear and tear of the property
rent can be paid weekly, fortnightly or must be paid for by the landlord.
monthly. Any future increases will be Repairs classified as ‘urgent’ must be
stated within the tenancy agreement as completed as soon as possible, while
the landlord cannot increase the rent until ‘non-urgent’ repairs must be taken care
the end of the fixed term, unless of before the 14 days of notification.
otherwise stated.
Furniture
Term Generally, residential properties do not
The length of a tenancy agreement can come furnished, although this becomes
vary, however the standard term is more common closer to the CBD. This
usually six (6) or twelve (12) months for will be clarified in the tenancy agreement.
the initial agreement although alternate
periods may be negotiable dependant on
the requirements of the landlord and/or
Terminating the Tenancy
tenant. Once a tenancy agreement A tenancy can be terminated at the
expires, the tenant can request a new conclusion of the tenancy agreement.
fixed term, or alternatively the tenant can However, both landlord and tenant can
stay in the premises at the same rent and request to end the tenancy for a variety of
conditions until advised. reasons. Certain conditions must be met
before the tenancy agreement can be
terminated, including days of notice,
Bond number of notices and reason for
A bond is a lump sum payment paid termination.
upfront by the tenants as security before
moving into the property. This lump For further information, contact
sum—usually four (4) weeks rent—is held Residential Tenancies Authority.
11The Process inspection to guarantee the quality of made should the market slow over this
the building and be aware of time. It’s wise for this type of investment,
The process to purchase a residential
maintenance required. especially with smaller and unknown
property can vary widely but the most
developers, that contracts are reviewed
common steps are outlined below. For
Negotiate by private treaty the highest by legal representation and the ‘sunset
further information and clarity, consult
price willing to be paid for the property clause’ explained, which places a
with your legal representative.
with the vendors (via the selling agent) or deadline for the construction timeline.
alternatively bid at public auction. Should a development not proceed,
Finance Representation deposits will be returned, but could be at
Before starting the journey to purchase a Holding deposit is recommended for a the expense of missed interest and
residential property, carry out due private treaty until cooling off ends (say, capital gains through other investments.
diligence of the subject property and $1,000) until formal finance is approved;
surrounding area to ensure the price at this time the full deposit (say, 10%) is There can also be more tax depreciation
expectation can be achieved with the paid. If bid was accepted at auction, the available on new properties, meaning
allocated budget. full deposit is payable at this time (say, maximising benefits and improving after-
10%) with any cooling off period now tax cash flow for investment properties.
The lending environment has become void. The deposit is generally paid by
challenging in recent years, when seeking cheque or electronic transfer (private
a loan from a financial institution. Many treaty only). General Costs
local banks will only lend if 20% of the When buying property in Australia, there
purchase price has been saved and there Contracts are signed and exchanged
are both federal and state taxes and a
is good evidence the property loan can by both parties and it’s time the solicitor
range of fees that are implemented.
be repaid regularly with the property loan (or conveyancer) finalises the formal
based on market value. Shop around as paperwork with the lender. Loan
mortgages and deposits can vary documents are signed. Transfer Duty
significantly between providers. Transfer duty (also known as Stamp
Settlement occurs when the property
Duty) is levied by the state government
officially changes ownership, following
on the purchase of property.
Legal Representation one final inspection on the day and the
Engaging a solicitor or conveyancer prior locks are changed.
to purchasing the property is highly Legal Fees
recommended so they can review the Legal fees will vary between legal firms
Buying Off-The-Plan
contract before signing, and then stay and may be dependent on property
engaged throughout the process until the In most cases, buying off-the-plan (OTP)
value. Generally fees range from $1,000
property settles (when the property is the commitment to buy a property
to $3,000 plus GST.
officially changes ownership). that’s not yet built.
An OTP property can be better priced Land Transfer Fee
Buying Established Property than established stock as developers are When a property changes ownership, a
Search for a property priced to match keen to secure sales in the project so document known as a Land Transfer is
requirements for location, proximity to lenders will provide funding and lodged and registered with the Office of
transport, work and education and the construction can commence. There is State Revenue, and a fee is charged. It is
quality, size and age of the dwelling. also the potential flexibility at this time to this document that records the change of
Staying abreast of comparable sales will make design changes to an apartment or ownership. The cost to register the title
assist in the negotiation process. house prior to turning sod. varies in each state of Australia. A
solicitor or conveyancer will perform this
Inspect the property at an open house or In most cases a deposit, typically 10%, is task on your behalf.
by private appointment. Request a copy paid to the developer and the remaining
of the contract and have solicitor (or is paid on settlement of the property,
conveyancer) read over the document. allowing more time to save throughout Mortgage Application Fee
the construction period. Through this A fee charged by the state government
Gain pre-approval for loan from lender time, market forces may push market for the registration of a mortgage. A
and confirm qualification from FIRB if values up, at an advantage to the buyer, lender will perform this task on your
required. Arrange a pest and building at the same time consideration must be behalf.
12FOCUS ON GOLD COAST Q1 2019 RESEARCH
Both the Australian and state home. The scheme allows Australians to
governments provide incentives for make voluntary contributions of up to
First Home Owner Grant Eligibility
Australian first home buyers. $15,000 in any one financial year, to a Criteria
maximum $30,000 across all years. This First Home Owners’ Grant
Incentives for includes undeducted (non-concessional)
personal contributions, deducted Queensland; including Gold Coast & Brisbane
First Home Buyers (concessional) personal contributions and
salary sacrifice contributions. These
Threshold (the property must valued less than)
in Australia contributions, which are taxed at 15%, Buyer of new property $750,000
along with deemed earnings, can then be
First Home Super Scheme withdrawn for a deposit if the eligibility
Conditions
The Australian Government, from 1 July criteria is met. Dwelling must be new, unless specified;
2017, has allowed individuals to make
Persons must be a minimum age of 18 years;
voluntary concessional (before-tax) and Concessional contributions and earnings
non-concessional (after-tax) contributions that are withdrawn will be taxed at At least one applicant is a natural person and an
into superannuation funds to fast-track marginal rates less a 30% offset. Australian permanent resident or citizen;
the time taken to purchase a new home Contributions made under this scheme
The contract date must be on or after 1 July 2018;
under the First Home Super Scheme are not a new type of contribution. They
(FHSS). Since 1 July 2018, individuals are voluntary contributions made to your You or your spouse must not have previously
can apply to release these voluntary superannuation fund. As a result, a received a first home owner grant in any state or
territory of Australia. If you received a grant that you
contributions, along with associated separate special account doesn't need to later paid back, together with any penalty, you may
earnings, to assist in purchasing their first be established nor does the fund need to be able to reapply for the grant;
be notified.
You or your spouse must not currently or previously
owned property in Australia that you lived in, or
For further information, contact the
First Home Super Scheme Eligibility Australian Taxation Office. owned a home before 1 July 2000 whether you lived
Criteria, Australia in or not. However if you owned an interest in
First Home Super Scheme (FHSS) residential property since this time, for investment
purposes (with evidence), you may be eligible;
Conditions
Incentives for First Must live in new home as principal place of
First home buyer – never owned property in Australia
– this includes an investment property, vacant land,
Home Buyers in residence continuously for at least 6 months within
the first 12 months of settlement.
commercial property, a lease of land in Australia or a
company title interest in land in Australia;
Queensland
First Home Owners’ Grant
Must live in the premises you are buying, or intend
to as soon as practicable; Queensland First Home Owners’ Grant is
home is valued at $500,000 or under, the
currently available. An eligibility criteria
Must intend to live in the property for at least first home concession amount will match
must be met before the grant is issued.
six months of the first 12 months you own it, after it the home concession rate resulting in no
is practical to move in; duty payable. First home vacant land
concession only applies to vacant land
Superannuation contributions can be from any age First Home Owner Grant Available
but persons must be a minimum age of 18 years to valued under $400,000.
First Home Owners’ Grant
request for funds to be released;
Queensland; including Gold Coast & Brisbane Only one of these concessions can be
Not previously requested the Commissioner to issue
a FHSS release authority;
claimed, with similar eligibility as the First
Grant
Home Owners’ Grant, plus, one must not
Eligibility is assessed on an individual basis—so dispose of the property before moving in.
One-off $15,000
multiple persons can access their own FHSS
contributions to purchase the same property;
Additionally for a home, one must live in
on a daily basis within a year of
If any persons have previously owned a home, it will settlement and for land, only one home
not stop any other persons being eligible to apply;
can be built, one must be certain there is
Don't sign contract to purchase or construct the
Stamp Duty Concessions not already an existing dwelling and live
home until money is released or there may be FHSS The first home concession only applies there daily within two years of settlement.
tax liability; this may take up to 25 days. to a home valued under $550,000, where
purchasers may be eligible for a stamp For further information, contact the
duty reduction on a sliding scale. If the Office of State Revenue.
13Current
regulations for
foreign investors
purchasing
residential Must apply and gain approval from
the FIRB prior to purchasing
property on the property in Australia.
A temporary resident is a person
Gold Coast Applications are generally approved who is residing in Australia and
holds a temporary residency visa
if the property purchased adds to
the housing stock, including new which permits them to stay in
dwellings that are yet to be Australia for a continuous period of
occupied or sold, off-the-plan more than 12 months (regardless of
properties under construction or yet how long remains on the visa); or
to be built. This includes vacant has submitted an application for
land for residential development permanent residency and holds a
where ongoing construction begins bridging visa which permits them to
within 24 months. stay in Australia until that application
has been finalised.
Non-permanent residents are
forbidden to purchase established Are required to notify FIRB prior to
dwellings as investment properties purchasing property in Australia,
or as homes. Although there could including an established dwelling, a
be an exception if the established new dwelling that has been
dwelling is being redeveloped into purchased directly from the
multiple dwellings, and as a result, developer and has not been
For further information: there is an increase in the dwelling previously occupied for more than
count. Over the development 12 months in total and vacant land
period, the house must remain for residential development where
unoccupied. ongoing construction begins with 24
Foreign Investment Review months. Temporary residents are
Board [FIRB] Foreign buyers can purchase an off not permitted to buy established
-the-plan dwelling, when another dwellings as investment properties.
firb.gov.au buyer has failed to reach
settlement—reverting to its previous May acquire one established
status as a new dwelling. An dwelling only and it must be used as
apartment or house that has just their main residence (home) in
Department of Immigration been built, or is still under Australia. Such proposals normally
and Border Protection construction and for which the title meet with no foreign investment
has never changed hands, is not objections subject to conditions;
border.gov.au considered an established dwelling. such as, that the temporary resident
sells the property when it ceases to
be their main residence.
Non-Permanent Temporary Resident
Resident (Temporary
(Foreign Investor) Residency Visa)
14FOCUS ON GOLD COAST Q1 2019 RESEARCH
The Australian Government welcomes foreign investment into Australia’s residential property market. The current rules around foreign
investment in residential property aim to direct investment into new housing, increasing the housing supply and support local
economic activity.
Acquiring second-hand dwellings for
the purpose of providing housing for
their Australian-based staff normally
meet with no objections subject to
the conditions set by FIRB. Investment migrants under this
Investment migrants under this scheme are required to invest at
The company must sell the property scheme are required to invest at least AUD$15 million into complying
if it is expected to remain vacant for least AUD$5 million into complying investments in Australia for a
six months or more. In remote and investments in Australia for a minimum of 12 months before
rural locations foreign companies minimum of four years before becoming eligible for permanent
may rent out dwellings acquired becoming eligible for permanent residency; a more expeditious
under this category only where they residency. pathway than the SIV.
are unable to sell the property.
The SIV scheme is intended to The PIV scheme is aimed at
Whether a company is eligible, and target the migration of high net- attracting applicants with business
the number of properties it may worth individuals to Australia with and entrepreneurial skills and capital
acquire under this category, will the longer-term aim of transferring to enhance investment into
depend upon the scope of the wealth of international businesses innovative Australian businesses
foreign company's operations and and individuals to benefit Australian and the commercialisation of
assets in Australia. businesses and the broader Australian ideas, research and
economy. development.
Foreign companies would not be
eligible under this category where The SIV scheme was introduced on The PIV scheme was introduced on
the property would represent a 24 November 2012 and is operated 1 July 2015 and is operated by the
significant proportion of its by the Department of Immigration Department of Immigration and
Australian assets. and Border Protection. Border Protection.
Significant Investor Visa (SIV) Premium Investor Visa (PIV)
Foreign Company Investment Migrants
with Australian (High Net Worth Individuals)
Business
15Additional Costs for
Fees payable by Foreign Investors,
Foreign Buyers Residential property
Based on Property Value, AUD
All foreign persons — that is, temporary
residents and non-residents — can apply $0 - $1,000,000 $5,600
to purchase vacant residential land for
development and newly constructed $1,000,001 - $1,999,999 $11,300
dwellings in Australia.
$2,000,000 - $2,999,999 $22,700
Non-resident foreign persons are $3,000,000 - $3,999,999 $34,000
generally prohibited from purchasing
$4,000,000 - $4,999,999 $45,400
established dwellings in Australia.
However, temporary residents can apply $5,000,000 - $5,999,999 $56,700
to purchase one established dwelling to
use as their residence while they live in $6,000,000 - $6,999,999 $68,100
Australia, although on the condition the
$7,000,000 - $7,999,999 $79,500
property is sold when it ceases to be
their principal place of residence. $8,000,000 - $8,999,999 $90,900
$9,000,000 - $9,999,999 $102,300
Once a property has been identified to
purchase, an application must be made $10,000,000 or more tiered per million
to the Australian Foreign Investment
Review Board (FIRB).
It is highly recommended that an
application is submitted prior to the
advance of any transaction—to ensure
complete legality of the purchase. The FIRB provides an interactive fee
Additionally, approval from FIRB is estimator.
property-specific—one application per
property.
Duty Surcharge
When the application is submitted, the The Queensland state government
government investigates to ensure that imposes a duty surcharge for foreign
the purchase of the property will be in the investors, payable in addition to general
country’s best interest. state-based transfer duties known as the
Additional Foreign Acquirer Duty.
A decision on the application is made
within 30 days—unless complications or Since 1 July 2018, foreign purchasers are
alterations occur, in which it may take up required to pay an additional 7% of the
to 90 days. sale price.
Other states with foreign investor duties
Foreign Investor Application include New South Wales (8%) as of 1
Fee July 2017, Victoria (7%) as of 1 July 2016
and Western Australia (7%) as of
All foreign investors must pay a fee
1 January 2019.
before their foreign investment
application will be processed.
Foreign investors are required to pay Duties payable by Foreign
$5,600 to purchase a new property if Investors, Residential property
valued under $1 million, with additional Based on Property Value, AUD, Payable in
addition to general state-based transfer duties
fees payable per million in the value of
the property. Queensland; including Gold Coast
Duty Surcharge on Purchase Price;
This fee does not provide any assurance 7%
from 1 July 2018
of securing the property and strict
penalties are applied for those who
breach the rules.
16FOCUS ON GOLD COAST Q1 2019 RESEARCH
Estimated Property Purchase Costs, Gold Coast
All costs represented in AUD, As at 1 January 2019
Purchase Price 350,000 500,000 750,000 1,000,000 1,250,000 1,500,000
Transfer Duty 3,500 8,750 19,600 30,850 45,230 59,600
Land Transfer Fee 790 1,310 2,190 3,060 3,940 4,810
Legal Fee (includes GST payable) 1,500 1,500 1,500 2,000 2,000 2,000
Mortgage Application Fee 190 190 190 190 190 190
General: Estimated Total Costs 5,980 11,750 23,480 36,100 51,360 66,600
Foreign Investor Application Fee* 5,600 5,600 5,600 5,600 11,300 11,300
Foreign Investor Duty Surcharge @7% 24,500 35,000 52,500 70,000 87,500 105,000
Foreign Investor: Estimated Total Costs 36,080 52,350 81,580 111,700 150,160 182,900
Estimated Property Purchase Costs, Gold Coast
All costs represented in AUD, As at 1 January 2019
Purchase Price 1,750,000 2,000,000 2,250,000 2,500,000 5,000,000 7,500,000
Transfer Duty 73,980 88,350 102,730 117,100 260,850 404,600
Land Transfer Fee 5,690 6,560 7,440 8,310 17,060 25,810
Legal Fee (includes GST payable) 3,000 3,000 3,000 3,000 3,000 3,000
Mortgage Application Fee 190 190 190 190 190 190
General: Estimated Total Costs 82,860 98,100 113,360 128,600 281,100 433,600
Foreign Investor Application Fee* 11,300 22,700 22,700 22,700 56,700 79,500
Foreign Investor Duty Surcharge @7% 122,500 140,000 157,500 175,000 350,000 525,000
Foreign Investor: Estimated Total Costs 216,660 260,800 293,560 326,300 687,800 1,038,100
1718
FOCUS ON GOLD COAST Q1 2019 RESEARCH
WHAT IS THE
On the Gold Coast, costs and taxes
associated with the ownership of a
Additional Costs as ROLE OF AN
property can vary dependent on the a Landlord OWNERS
services the building provides. CORPORATION?
Property Management Fees
General Costs Letting Fees are usually equivalent to
two (2) weeks rent paid to the agent as a
The rights and responsibilities of
both the owners corporation and
Land Tax fee for finding and securing a tenant. its members is different in each
Management Fees cover any costs state but generally comprise:
Land tax is an annual state tax that is
associated with managing the property
calculated based on the aggregated
taxable value of all land owned (or jointly
and range from 7% to 8.5% plus GST. Maintain and repair the common
owned) by an individual. Land Tax is not property of the strata scheme;
applied if the property is your principal Utility and Service Charges Manage the finances of the
residence.
The owner must pay for the use of strata scheme;
utilities (electricity, gas, oil and water
Council Rates supply). Although if the owner leases the Maintain required insurances
property to a tenant, some of these can including public liability and
This varies across states and local building insurance where
be passed on but this must be stipulated applicable;
government areas. This is the tax the
within the tenancy agreement. However,
council charges owners for the services
to the property—generally paid quarterly
the owner must pay for the actual Keep records of all details of
installation and initial connection costs. notices given under the relevant
or annually.
state strata management
legislation;
Income Tax Landlord Insurance
Landlord insurance is designed A strata register must be
Income tax is payable on gross rental established and maintained,
specifically to cover rental properties.
income, less any allowable deductions detailing the owner’s name or
Depending on the insurance provider, it agent’s name and address for
incurred in earning that income. As there
protects the home from damage, theft, each lot within the strata
are a number of potential allowable
severe weather or rent default in some scheme;
deductions, it is recommended that an
cases. To decrease risk, landlord
Australian Tax advisor is consulted.
insurance is highly recommended. Administration of any by-laws for
the strata scheme;
Owners Corporation To provide a grievance register.
If the purchased property is Strata Titled Additional Costs for
(a building with common areas and
facilities for the use of all occupants of Foreign Owners
the building), an owners corporation will
be established for the building. Foreign-Owned Vacant
Residential Property Levy
A regular fee must be paid to the Owners The Australian government charges an
Corporation to maintain these common annual levy for foreign-owned vacant
areas. This can include elevators, foyers, residential property (ghost tax). The levy
swimming pools and spa, gymnasiums, is equivalent to the FIRB application fee
plants and foliage, lighting, staircases, imposed at the time the property was
fences, visitor car parks and security. purchased if they fail to occupy or lease
for at least six (6) months of the year.
A group of elected people manage the
operations and decision-making of the Absentee Land Tax
common area of the property. Surcharge
In most states, the owners corporation The Queensland state government has
comprises of an executive committee imposed a 1.5% absentee land tax
(generally individual owners of the surcharge for foreign investors. This is
apartments) who make decisions on the payable in addition to general land tax
behalf of their owners. and is based on the taxable value.
19There are costs and taxes to consider
when selling residential property in Additional Costs for
Australia.
Foreign Owners
General Costs Capital Gains Tax Clearance
Legal Fees Certificate
Foreign and temporary tax residents are
Legal fees include, but are not limited to,
no longer entitled to access the CGT
the costs for preparing a contract for
main residence exemption from 7.30PM
sale. The solicitor or conveyancer fee
(AEST) on 9 May 2017.
could be dependent on value of property,
and may vary between state and territory
Although, existing properties held prior to
as well as the particular solicitor chosen.
this date will be grandfathered until 30
The cost may range between $2,000 and
June 2019.
$4,000, plus GST.
A CGT withholding rate for foreign
Real Estate Agent Fees investors is applicable for all contracts
An agent fee is the commission paid by with a market value over $750,000 when
the owner, to the agent, for selling the signed on or after the 1st July 2017.
property—either tiered rate or a fixed
rate. Do ensure you understand the This requires 12.5% of the purchase
breakdown of the fee structure as price to be withheld by the purchaser and
commissions will vary between states, remitted to the Australian Taxation Office
and price point. Fees often range (ATO) unless a clearance certificate has
between 2% and 3% of the value of the been provided by the vendor. The money
property sold. withheld is a portion (not in addition to)
from the agreed sale price.
Marketing Costs If a purchase price negotiated between a
When an agent is selected to sell the purchaser and vendor is on an ‘arm’s
property, the fee breakdown will often length basis’, then the purchase price
DOWNSIZER stipulate the budget associated to the may be used as a proxy for market value.
INCENTIVE marketing and advertising of the
property. Additionally, there may be a The ATO can only grant a clearance
Downsizers (aged 65+ years) period allocated to marketing with certificate to a vendor who is considered
can make a non-concessional
multiple open house inspections over to be an Australian resident.
(after-tax) contribution into their
Superannuation account of up several weeks. Budgets for marketing,
to $300,000 from the sale of media, as well as length of advertising Do note a residency status for tax
their family home. should all be discussed with the agent to purposes is not necessarily the same as
ensure maximum advertising potential. that for immigration purposes; or for the
Introduced from 1 July 2018, FIRB. It is recommended to seek
the legislation states the
professional legal advice to further clarify
property sold must be the Capital Gains Tax the residency definition for this
person’s home (main residence
Capital gains tax (CGT) is a federal tax legislation.
and be eligible for the main
residence exemption for capital levied on the gain or loss upon the sale of
gains tax) and held for at least an investment property. The foreign resident CGT regime for
the past 10 years. withholding tax applies to taxable
The tax is implemented on the difference Australian property including vacant land,
This will increase their tax-free between the cost of acquiring the buildings, residential and commercial
fund limits. Couples will be able property, and the value when sold. The
to contribute up to $300,000 property, leaseholds and strata title
difference is then added to the income schemes.
each, giving a total contribution
per couple of up to $600,000. tax for the individual or company for that
financial year, and taxed accordingly with For further information, contact the
those rates. Australian Taxation Office.
20FOCUS ON GOLD COAST Q1 2019 RESEARCH
In recent years, the federal and state governments have introduced foreign investor fees, tax surcharges and levies. Below is a
summary of the current process for foreign buyers when purchasing, owning and selling Australian residential property.
The Process for Foreign Buyers when Purchasing, Owning and Selling Residential Property, Gold Coast
As at 1 January 2019
BUYING
Check if the Applies to all
Property-specific;
Must be made Developer has a Australian
APPLY TO FIRB one application
prior to purchase Exemption residential
per property
Certificate properties
+ PAY FIRB Above If within several
APPLICATION FEE Below = $11,300 + fees Contact ATO if categories the
based on AU$1M = $5,600 are tiered per over $10M highest fee
value million applies
Decision is Must be in the Approval or fee
AWAIT FIRB Strict penalties
normally made best interest of does not secure
APPROVAL occur if in breach
within 30 days Australia sale
Qld
TRANSFER DUTY
(incl. Brisbane &
SURCHARGE
Gold Coast)
on market value
= 7%
OWNING
AUSTRALIA > Equivalent to
not genuinely on
VACANT Applicable if application fee
Annual levy rental market for
RESIDENTIAL vacant or paid at time of
6 months of year
PROPERTY purchase
Imposed if
Absentee Owner
Qld > taxable land is
= 1.5%
$350,000 +
SELLING
A clearance Clearance
CAPITAL GAINS TAX 12.5% of the Applicable to all
certificate must certificates
(CGT) on market purchase price contracts over
be provided by granted to Aus.
value withheld $750,000
the vendor residents
21The Gold Coast LGA population has been significantly rising. Over the year ending
June 2017, an increase in the estimated resident population was recorded at 2.7%
to 592,350 persons. According to the Australian Bureau of Statistics (ABS), this is
well above the overall Australian population growth of 1.6% and on par with the rate
of population growth in Melbourne. When compared to the Australian capital cities,
SIGNIFICANT the Gold Coast LGA population is ranked the 6th largest, ahead of Canberra, Hobart
POPULATION and Darwin. According to Queensland Treasury projections, the Gold Coast LGA
GROWTH. population is projected to grow annually by 2.2%, to 866,650 persons by 2036.
A demographic shift is occurring on the Gold Coast with compounding growth in the
number of residents aged 65+ years. This age group represented 14% of the Gold
Coast LGA population in 2011 (73,000) to stand at 91,400 residents in 2016; growing
to a 16.4% share. By 2036, it has been projected by the ABS this group will grow to
almost double (174,000 residents) and represent 20.2% of the population; overtaking
the number of residents aged 30-45 years. The 65+ years cohort are fast becoming
attune to the apartment lifestyle, enjoying the amenity, retail and transport within
DOWNSIZER
close proximity. The pressure on apartment supply in good locations will only ramp
DEMAND.
up with the upward trajectory in the ageing population.
The total wealth of Australian High-Net-Worth individuals (HNWIs) continues to rise.
The Gold Coast saw more than 1,000 net inflow of HNWIs in 2017; taking more than
one-tenth of Australia’s 10,000 new HNWIs each year, according to New World
Wealth. By definition, this is someone with net worth of US$1 million, excluding their
primary residence. Australia remains the top country ranked by HNWI net inflow for
WEALTH the third consecutive year.
FLOWS.
The number of international students enrolled to study in Queensland education
facilities rose 9.6%, in the year ending June 2018, according to the Department of
Education and Training. Higher education facilities saw growth of 9.8%, while
international school-aged students grew 7.5%. The Gold Coast is fortunate to
GROWTH IN accommodate three world-class university campuses and numerous private schools
accepting international students. The SSVF has made the process of applying for a
INTERNATIONAL
student visa in Australia easier to navigate for both students and guardians.
STUDENTS.
International departure capacity at the Gold Coast Airport expanded by 56.2%
between 2012 and 2017 as reported by OAG Schedules Analyser. This is earmarked
to grow further opening more routes to South-East Asia in the coming years.
RISE IN Tourism Australia calculated a growth in international visitors on the Gold Coast by
3.8% over the year ending March 2018, with a little over 1.1 million visitors.
INTERNATIONAL
VISITORS.
22FOCUS ON GOLD COAST Q1 2019 RESEARCH
Gold Coast LGA houses and apartments are relatively well-placed for value across
the major Australian capital cities. The median value for an apartment in September
2018 was $425,000 on the Gold Coast, whilst Sydney was $734,800 and Melbourne
$496,500 according to APM. This was similar for houses on the Gold Coast with the
RELATIVE VALUE TO median value being $620,000; significantly lower than Sydney ($1.1m) and
Melbourne ($853,000). The Gold Coast is firmly back on the radar for those now
OTHER MAJOR
priced out of the these cities.
CAPITAL CITIES.
The second strongest annual capital growth was recorded for Gold Coast
apartments across the six major cities, at a sustainable 1.2%, in September 2018.
This exceeds the annual national average of –1.4% and falls slightly behind
APARTMENT Melbourne at 1.5% (APM).
CAPITAL VALUE
GROWTH.
Gross rental yields on the Gold Coast have gained strength of 10bps over the two
years ending September 2018, to stand at 5.80% for apartments, bucking the
national downward trajectory (APM). Over this same time, Gold Coast median rents
moved from being $390 to $420 per week, total growth of 7.7%.
RENTAL YIELDS
REBOUNDING.
The Gold Coast experienced one of the lowest vacancy rates in the country at 1.7%
in September 2018, well-below the Australian weighted average of 2.6% (REIA). The
consistent population growth coupled with limited new housing supply being
constructed has seen the vacancy rate trend below market equilibrium (of 3%) since
LOW VACANCY AND December 2012 (REIQ). The undersupplied Gold Coast market has averaged a
LESS APARTMENTS vacancy rate of 1.9% since this time, pushing up median apartment rents 1.3%, on
BEING BUILT. average, per quarter.
The Knight Frank Wealth Report 2016 identified residential hotspots likely to enjoy
market outperformance over the coming years, led by economic and employment
growth, new infrastructure, regeneration, quality of education, environment and
lifestyle. Gold Coast was recognised globally as a top second-home destination,
with infrastructure investment with the G:Link light rail, Commonwealth Games
GLOBAL facilities (held in 2018) and proposed airport expansion. Competitive prices, when
compared with Australia’s top cities, plus strong fundamentals – local population
HOTSPOT FOR
growth and expanding tourism –will underpin demand along the 57-kilometre
SECOND HOMES.
coastline.
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