Positive Shift in Prestige Rental Stock Levels

March 17 2023

The number of prestige properties entering the rental pool is on the rise giving high-net-worth tenants more options in their search for a temporary home.
Positive Shift in Prestige Rental Stock Levels

The premium rental market is bucking the wider trend for low rental availability, with high-net-worth renters able to enjoy the luxury of choice.

Kollosche’s property management team has experienced a lift in the number of listings coming to market over the past month, going against the flow of media attention highlighting critically low levels of rental stock across the Gold Coast.

Despite the recent stock increase in the prestige arena, overall vacancy rates remain restricted and the rental prices being achieved continue to be at the top end of the market.

1905/2 THE LANES BLVD | Kollosche

The property team last week signed a lease for 1905/2 The Lanes Boulevard in Mermaid Waters at $1,000 a week. This was a record price for a two-bedroom, two-bathroom apartment with one car space in the landmark 42ha master-planned community The Lanes.

The Lanes development has the capacity to achieve excellent returns for landlords due to its central location and soon-to-be developed amenities, which include a luxury retail, wellness and lifestyle precinct.

Also in Mermaid Waters, a villa at 1/34 Sundowner Court was rented at $1,900 a week after only one inspection, despite a $100 a week price uplift on the previous tenancy and six other groups interested in the property.

In comparison, the median weekly rental price in Mermaid Waters for apartments is $580, according to CoreLogic data, with asking rents in the suburb rising 18.4 per cent in the 12 months to March.

“Whatever the market is doing, we will always defend the rental price of a property,” says the head of Kollosche Property Management Melissa Baker.

“We communicate regularly with landlords about what is going on in the prestige sector, so they can make informed decisions when negotiating rents,” Melissa says.

“If expectations meet the market it means a faster turnaround for clients, minimising any loss of income from having a vacant property.”

101/32 O'CONNOR STREET | Kollosche

The southern beachfront suburbs are also a hotspot for rentals at present, which Melissa says may be due to the fast-approaching Easter holiday period.

“The Gold Coast is a seasonal city so a lot of people seeking accommodation are seasonal or transient workers, who are looking for the convenience of a turnkey property.

“We have a strong association with clients such as Warner Bros and Village Roadshow, who come to us because they know we can source the type of properties they require and are walk-in walk-out.”

Kollosche currently has 20 premium properties, furnished and unfurnished, in sought-after locations across the Gold Coast available to rent, including: 78 Admiralty Drive, Surfers Paradise – a six-bedroom, six-bathroom waterfront home on a prime street in Paradise Waters for $3,200 a week; 101/32 O’Connor Street, Tugun – a new three-bedroom, two-bathroom beachfront apartment in the elite ‘Lusso’ building for $2,800 a week; and for those seeking a tree-change 876 Gilston Road, Gilston has a four-bedroom home on 3.6ha for $2,900 a week.

Reach out to Kollosche’s Property Management team for a selection of prestige homes to suit your needs.


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