Competition is heating up for luxury apartments in Australia’s beachfront hotspot of Burleigh Heads as a surge of interstate buyers creates a critical shortage of supply, particularly for three-bedroom apartments.
The sale of a three-bedroom apartment on The Esplanade has underpinned the strength of the Burleigh Heads beachfront market as the prime apartment market on the Gold Coast. The penthouse apartment featured at 5/44 The Esplanade on the corner of Second Avenue is within a close walk to the famed James Street in Burleigh and a world-class point break surfing location.
Bon Sol at 3/44 The Esplanade is a 60’s themed holiday let apartment, designed by Brisbane-based Interior Designer Anna Spiro, who is behind the design at the luxury Halcyon House in northern New South Wales. “Burleigh is the go-to destination on the Gold Coast as a lifestyle, entertainment and dining precinct and real estate sales are reflecting the suburb’s newfound popularity,” said Adam Young of Burleigh Heads’ Black and Young Real Estate.
Young said three-bedroom apartments in particular were in high demand as downsizers looked to buy into beachfront apartments without sacrificing space. The recent sales in Burleigh come under a backdrop of incredible sales across the southern Gold Coast. Young said he saw no let-up in the market. He highlighted two recent sales of unrenovated two-bedroom apartments along The Esplanade, for $1.3 million and $1.35 million respectively, as examples of the strength of the Burleigh Heads apartment market in general.
“The post-COVID world we live in with no international travel is continuing to drive domestic real estate and there is no doubt that like Byron Bay and Noosa, the southern Gold Coast and in particular Burleigh Heads are becoming magnets for real estate investment.”
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