The appetite for ultra luxury homes has ramped up, with cashed-up buyers favouring turn-key mega mansions as replacement costs soar.

Queensland prestige property veteran Michael Kollosche said the buyer pool for new or fully renovated trophy homes had increased in line with the rising cost of construction and the scarcity of quality builders.

“Buyers have come to appreciate homes that are already done and delivered turnkey at the moment, because the cost of construction is exorbitant,” he said. “In most cases, you’re able to secure these homes for below replacement cost without the three to four years it takes to deliver them, and that’s obviously making it extremely attractive to most of the buyers in this segment.”

Mr Kollosche said the retail cost of building a quality prestige home started at $10,000 per sqm for those who were first able to secure the right site and a reputable builder.

“With most prestige builds right now, you’re struggling to get any change out of $10,000 per sqm. Some are coming in upwards of $13,000 per sqm,” he said. “So, a 1,500 sqm home is essentially a $15 million to $20 million build before you’ve even talked about the land acquisition and time required to deliver it. It’s the total replacement cost that’s driving the appetite.”

ABS data reports house construction prices rose 1.5% in the December quarter 2025 – the largest quarterly increase since September 2022. Over the past 12 months, building construction prices rose 3.4%. Master Builders Australia, citing ABS data from the September 2025 quarter, reported it is now 44.8% more expensive to build a new house than it was just before the pandemic.

The forthcoming 24 April auction of a grand French Provincial estate on the central Gold Coast is expected to attract national interest, following a comprehensive five-year build by owners Katrina and Anthony Puljich.

‘Château de la Riviera’ features lavish European-inspired finishes with seven oversized bedrooms, multiple living and entertaining spaces, and resort-style recreation including a pool, pontoon, boathouse and dual triple garages. The estate occupies a 4,118 sqm parcel with 36 metres of Main River frontage at 6 Maryland Avenue in Carrara.

“It is an outstanding home of grand proportions, built to the highest specification, and benefits from a due north aspect to the Main River,” said Mr Kollosche.

“To go through the process of replicating what has been built here from scratch would be an enormous undertaking. You also have generous spare land which is enough space for a full wellness facility or commercial-scale gym, all while sitting in the geographic centre of some of the Gold Coast’s best private schools.”

The latest PropTrack Home Price Index reports Gold Coast home prices surged $151,000 annually, or 12.81 per cent, to reach $1.18 million for all dwellings (houses and units), making it Australia’s second most expensive city behind Sydney.

Mr Kollosche said southern buyers were well represented in the prestige property buyer pool, with Queensland real estate offering greater value than comparable properties in other states.

“We are definitely speaking with buyers from Melbourne, Sydney, Brisbane and expats in that top end of the market, as well as a strong local contingent,” he said.

“When you look at what you get here compared to those southern markets, value for money still far outstrips all of them and the lifestyle is arguably better. At the ultra-high end, the Gold Coast still represents extraordinary value in terms of lifestyle, location and the calibre of homes.”

Arrange a private inspection of Château de la Riviera with Michael Kollosche on 04111 888 15.