High Demand for Prestige Homes
August 4 2023
The leasing department at Kollosche had a bumper month in July, matching 20 rental properties to tenants for an average of $1,680 a week.
It was the busiest month of the year for the department, which predominantly, but not exclusively, deals with clients seeking prestige properties of $1,000 a week or above.
Beachfront and beachside houses and apartments remain the primary attraction among renters and, unsurprisingly, command the highest rents.
The suburbs of Mermaid Beach, Main Beach, Palm Beach and Broadbeach tend to have the strongest pull for high-net-worth clients because of the quality of the views and proximity to key amenities.
The property management team often sources high-value residences in these areas off-market in order to accommodate a client base that values confidentiality and privacy.
“Kollosche strives to service their clients at every stage on their property journeys, whether they be buying, selling, renting or investing,” she says.
“We deal exclusively with respected prestige clients and have a successful track record in matching clients with the right level of property.”
Between 20 per cent and 30 per cent of the business handled by the leasing department come from existing vendors or Kollosche private clients.
The beachside ‘Infinity’ development, recently completed at 33 Surf Parade in Broadbeach, is also proving popular among tenants, with three half-floor apartments recently leased for the full asking price of $1,600 a week.
Mel says Infinity is a quality product popular with buyers, leading to the majority of apartments being sold off the plan.
“Now that the building is complete, that level of attraction is resonating with the rental market and apartments up for lease are attracting a high level of enquiry, and only lasting a few days before being tenanted,” Mel says.
A full-floor, four-bedroom apartment in Infinity is currently available for $2,500 a week through Kollosche leasing agent Josh Castellaro. Tenants will have access to resort-style amenities, including a 20m pool, private entertaining areas and cutting-edge gym all a few minutes walk from sand and surf.
Tenants Go Large
Spacious suburban homes are at the top of the wishlist for larger renting families, with properties on the waterfront driving the bulk of demand and the highest prices.
A five-bedroom, five-bathroom Hamptons-style home with a pool and jetty at 18 Welby Street in Broadbeach Waters barely had the chance to make it to market, before it was leased for the full asking price of $2,500 a week.
Supersized 40 Tosti Street in Sorrento, a five-bedroom family home on a waterfront block with 38m of sandy beach was leased within two weeks for $1,800 a week, while a 51 Amalfi Drive, on the water in elite Isle of Capri, Surfers Paradise, was leased fully furnished for $1,950 a week.
The recent demand for prestige Gold Coast properties has come from a mix of local, interstate and international clients.
Mel says most are looking to relocate permanently to the Gold Coast and require interim accommodation, or a longer-term base while they search for a property to buy or complete a build of their own.
If you are a landlord or prospective tenant seeking a short or long-term leasing option, reach out to our dedicated property management team, who are experienced in matching clients with their ideal property.