Ressen announced this week that the company launched a VIP expression of interest campaign for much anticipated Summerville project in Tweed Heads and Coolangatta.
Bargains of a lifetime are often found amid the fallout of a bust, and arguably the bigger the bust, the greater the opportunities.
While much of the attention at the moment is on rampart property markets in Melbourne and Sydney, a massive property price rerating in the tourist mecca that is the Gold Coast and Tweed Heads/Coolangatta is just about to get started.
The Australian dollar soared in value on the back of the commodity boom, but unfortunately, this created the perfect storm for Queensland and tourism, which was particularly hard hit. Tourists were no longer coming to Australia and Australian themselves were travelling overseas to take advantage of our strong dollar.
Now, luckily tourism is back and with the low Australian dollar, two major 5-star hotels are being built on the beachfront. The $1 billion Jewel Project by the Wanda Group, headed by China’s second-richest man Wang Jianlin, has commenced a construction without selling one apartment as they are extremely confident that the demand will come from China.
It was reported that the highly respected Banyan Tree pay up for a massive land bank. It should be noted that this is the very first time Banyan Tree has built a hotel in Australia and has chosen to do so on the Gold Coast. No doubt these premium and brand new hotels will attract tourism and bring in a new wave of clientele particularly from China.
Many experts believe that the timing is right now for an upswing in the market. We may see this trend of Chinese buying gather pace, just like as the buying by the Japanese during the 80’s and ‘90s fuelled the gains in the Gold Coast property market then. The next boom will likely be driven by the Chinese, with a rising middle class, and favourable currency moves underpinning demand.
The Japanese property developers are already back to Australia, one of the most prominent players in Australia is the Sekisui House.
We could be wrong and time will certainly tell, but many experts and local real estate professional believe that quality well-located property on the Tweed/Coolangatta and Gold Coast present an excellent investment opportunity for astute investors.
About the Summerville Project
Combining elegant style and modern urban architecture “Summerville” is a 9 story residential development made up of 43 one, two and three bedroom apartments. Designed by award winning architect Boss Design, the building features a landscaped podium and spacious balcony area, while smart design maximises leafy green views of the surrounding area.
Each apartment is designed with versatile open living areas and large windows to maximise natural light. All apartments include a secure car space and access to secure individual bicycle storage.
Summerville is located just 3.5km from Gold Coast International Airport, and is connected to Tweed/Coolangatta retail precinct and entertainment facilities.
To learn more about this project, please contact.
David Stringer at DJ Stringer: 0418 150 731.
Peter Joyce at North Estate: 0438 543 686.
For more information, please visit www.summerville.com.au