A property market report on the popular seaside suburb of Burleigh Heads in Australia's Gold Coast is giving luxury apartment buyers a clearer understanding of the region’s unique market conditions..
A property market report on the popular seaside suburb of Burleigh Heads in Australia's Gold Coast is giving luxury apartment buyers a clearer understanding of the region’s unique market conditions and how new apartment developments are stacking up.
Leading independent property market analyst Paul Broad recently looked at the luxury beachfront apartment market at Burleigh Heads and across the Gold Coast to rate premium oceanfront apartment development Burly as a "unique opportunity not to be missed".
Burly is a $480million luxury apartment development planned for a large prominent 2024sqm site with 40 metres of frontage overlooking North Burleigh Beach at 264-266 The Esplanade, being delivered by leading Australian property developer David Devine and his team at DD Living.
Broad Property Market Research described Burly's exclusive collection of 100 luxurious two, two-bedroom plus multipurpose room, three and three-bedroom plus multipurpose room apartment residences and four-bedroom penthouses that will soon be released to the market as having all the "signposts of quality" that meet the needs and aspirations of high-end beachfront apartment buyers.
Mr Broad said David Devine's reputation as a leading developer was one of the signposts of quality that property buyers were looking for when buying into new developments.
"The depth of the market for top-end properties in Burleigh Heads and across the Gold Coast as a whole is extensive," Mr Broad said.
"Whilst there are many new apartment developments currently being advertised on the Gold Coast, increases in construction costs, the difficulty in sourcing building materials, labour shortages, and question marks about the viability of several building firms lead us to believe that many proposed developments will not see the light of day; at least four new Gold Coast developments that had been heavily marketed only recently have now been withdrawn.
"DD Living has an extensive history of delivering high-quality, well-positioned apartments and has gone to great lengths with Burly's design to meet all the aspirations of high-end beachfront apartment buyers.
"Apartment buyers will appreciate a strong level of comfort that the building will be completed on time and to the requisite standard, despite the difficult conditions currently facing Australia's construction industry."
Broad Property Research concludes that apartments in Burly are "extremely generously sized" ranging in size from 142sqm to a stunning 706sqm gross, to be some of the largest apartments available on the Gold Coast and in most cases significantly larger than in other developments targeting the top end of the owner-occupier market.
Two-bedroom apartments are up to 34m² (28%) larger and the three-bedroom apartments are on average 19m² (9%) larger than in apartments in competing developments.
Luxury apartment marketing agency TOTAL Property Group that is managing the apartment sales at Burly reported a high level of interest in the development since the development application was approved in April 2023.
TOTAL Property Group Managing Director Adrian Parsons says the prestige property market in Australia is commanding unique lifestyle experiences and quality developers who fully understood the market are responding and delivering.
"David Devine and his design teams have exemplified in Burly, exactly what prestige property buyers are asking for in a brand-new apartment development," Mr Parsons said.
"All the important aspects are there; the prime location opposite the beach in North Burleigh, spacious and stylish apartments with ocean and beach views that can never be built out, and five-star resort amenities that include a concierge. These are just a few of the desirable features pointed out by apartment buyers.
"DD Living was able to accomplish the rare undertaking of amalgamating two neighbouring sites on The Esplanade in North Burleigh to gain 40 metres of beach frontage for Burly apartments, which is an extraordinary achievement.
"The scarcity of development sites like Burly's at 264-266 The Esplanade, and especially those that offer 40-metre ocean view frontage, means that Burly apartments will command premium prices, especially given the locational advantages, the generous-sized apartments and outstanding residential facilities provided.
"Apartment prices on the Gold Coast increased by 14.5% last year, after rising 13.3% the previous year, and as for long-term price growth, Burleigh Heads is one of the Gold Coast's better-performing suburbs, perfectly positioning Burly for both the owner-occupier and investor.
"With apartment supply on the Gold Coast forecast to fall dramatically over the next two years, Burly is a limited opportunity to own a luxurious beachfront apartment in one of Queensland's most desirable locations."
Two whole levels in the 24-level building are dedicated to luxurious resident-only recreation facilities with swimming pools, sun beds, gymnasium, peloton room, steam room, sauna, yoga and pilates lounge, cinema, barbecue areas, casual and formal dining, kitchen, private office, boardroom, executive lounge, bar and pool deck.
The ground floor will include an impressive entry lobby with concierge and residential facilities such as surfboard storage, while there is generous car parking, bicycle parking and storage areas for residents.
Burly is conveniently positioned at 264-268 The Esplanade, North Burleigh on one of Gold Coast's most desirable residential beachfront strips just 13km from Gold Coast International Airport and 6km from the Pacific Motorway providing easy access to Brisbane and the capital city's international airport.
DD Living is synonymous with ultra-premium residential apartment buildings, such as the $446 million Royale Gold Coast at the exclusive, absolute beachfront strip of Northcliffe Terrace in Surfers Paradise, currently under construction by Hutchinson Builders.