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Property project attracts interstate investors

Property project attracts interstate property investors

One of the Sunshine Coast’s largest townhouse project is currently experiencing investor enquiry at pre-GFC levels, says Brisbane-based AR Developments.

General Manager Mick McMillan says the Aspect North development is experiencing a surge in interest from Sydney and Melbourne, as investors move north in their search for solid returns.  As a result, AR Developments is expecting its busiest sales period in five years in the lead-up to Christmas.  “If the price is right and the product is of high quality, the interest from interstate investors is there and growing,” McMillan says.

“We’re confident that we will be able to sell a large chuck of the remaining townhouses over the Christmas and New Year holiday period, as families travel to the Sunshine Coast from down south.”

McMillan says investors favour townhouses for their size and low-maintenance qualities, and says at up to 195 square metres, Aspect North’s three and four-bedroom properties have the benefit of being around 20 per cent larger than the average townhouse.  Combined with relatively affordable prices – the latest Global Property Guide has Sydney real estate prices at almost double those in Queensland – this presents an attractive investment option.

“Investors wouldn’t come close to finding a product of the same price, quality and size of Aspect North, and in the same proximity to the beach in Sydney,” McMillan says.

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