Beachfront buyers secure $170k-a-year rental income – Beragampengetahuan

A beachfront apartment in one of the Gold Coast’s most popular holiday markets was the city’s richest sale of the week.

The three-bedroom oceanview unit in Coolangatta’s Nirvana by the Sea building sold off market for $3.785m to a couple upgrading from another high-rise along the beachfront stretch.

The vendors, meanwhile, were selling after purchasing a penthouse in a nearby tower with a rooftop pool.

Real Specialists agent Wayne Bisgrove handled the sale of the apartment at 805/1-3 Douglas St.

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Mr Bisgrove said the eighth floor skyhome commanded gross rental income of $170,000 per year from the short-term accommodation market.

“Both the buyers and the sellers had their properties holiday let in their respective buildings and, like most buyers within these towers, have a three to five year plan to move into the properties themselves,” Mr Bisgrove said

Insterstate buyers and retirees were most active in the local market, while the contingent of owner-occupiers compared to investors was fairly evenly split, he said.

805/1-3 Douglas St, Coolangatta

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The north-facing Nirvana unit was in original condition and last changed hands for $2.45m in August 2020.

It offered a flexible floorplan over 300 sqm of open-plan living, with three bedrooms, a media room, and an office.

The contemporary kitchen features a wide island bench and integrated Miele appliances, while floor-to-ceiling glass frame sparkling views from Surfers Paradise to Snapper Rocks.

A covered balcony is ideal for al fresco entertaining, and the apartment also has four bathrooms including a sleek master ensuite with bathtub.

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Recent research into the international holiday rental market by AirDNA shows Gold Coast properties returned an impressive revenue per available room (RevPAR) of $258, the highest of any Australian destination behind the Whitsundays.

“RevPAR is a hospitality industry metric that measures how well a property generates revenue,” said Seiko Ma, CEO of short-term property management company, Alice’s Home.

“It’s based on the optimal combination of occupancy rates and pricing strategies. A higher RevPAR indicates a successful alignment of pricing and occupancy strategies.”

Ms Ma said AirDNA’s data highlighted great locations for investors to consider based on rental demand, revenue growth, seasonability and regulation.

Coolangatta Beach at your doorstep

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Built in 2009, Nirvana by the Sea comprises 66 two and three-bedroom apartments and was designed to provide 5-star accommodation to holidaymakers in a central beachfront location just minutes from the airport.

Amenities include a heated lap pool, spa, sauna and gym.

PropTrack data shows unit prices in Coolangatta were up 4.7 per cent over the past 12 months to a median of $995,000.