Posted: 10th June 2024

Posted in: News

The Gold Coast, known for its beautiful beaches, vibrant lifestyle, and strong property market, has become increasingly popular among international investors. Recent years have seen a notable rise in overseas investments, driven by factors such as the region’s appealing climate, consistent economic growth, and strategic location.

Key Drivers of Overseas Investment

  1. Stable and Secure Market: The Gold Coast’s real estate market offers stability and security, making it an attractive option for foreign investors. Property values have consistently increased, providing a reliable return on investment.
  2. Increased Interest from Asian Buyers: There has been a significant increase in interest from Asian buyers, particularly from China. Data shows that Chinese buyer enquiries rose by 138% in the third quarter of 2023 compared to the previous year. This trend is expected to continue as more new Australians and students choose to purchase properties, driving demand.
  3. Prime Location and Lifestyle: The Gold Coast provides an unparalleled lifestyle with its stunning beaches, world-class dining, and entertainment options. Its proximity to major cities like Brisbane and easy access to international airports further enhance its appeal to international buyers.
  4. Regulatory Support and Incentives: The Queensland government offers various incentives for foreign investors, including the First Home Owner grant and support for new developments. However, investors must navigate requirements like the Foreign Investment Review Board (FIRB) approval and the Additional Foreign Acquirer Duty (AFAD).

 

investment real estate property gold coast

Challenges and Considerations

While the Gold Coast presents lucrative opportunities, foreign investors must consider several challenges:

  • Regulatory Hurdles: Foreign investors must obtain FIRB approval for purchasing properties. This approval is generally limited to off-the-plan projects, brand new properties, and house and land construction options.
  • Stamp Duty and AFAD: Additional costs, such as stamp duty and the AFAD, can be substantial. The AFAD imposes an extra 7% on the purchase price for foreign buyers.
  • Conveyancing and Legal Requirements: Navigating the legal landscape requires the assistance of Queensland-registered conveyancers or solicitors to ensure compliance with local laws and smooth property transfer.

The Future Outlook

The outlook for overseas investment in the Gold Coast remains positive. With the easing of international travel restrictions and a steady influx of new migrants and students, demand for residential properties is expected to rise. Ongoing development projects and infrastructure improvements are likely to further boost the market, solidifying the Gold Coast’s status as a prime investment destination.

Overseas investment in the Gold Coast is set to continue its upward trajectory, driven by the region’s desirable lifestyle, stable market conditions, and strategic incentives. Investors looking to capitalise on these opportunities should stay informed about regulatory requirements and market trends to maximise their returns and ensure a seamless investment experience.

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If you want to discuss more about the opportunity of property investment, contact Lucy Cole Prestige Properties.

 

Bundall Office: (07) 555 33688

Broadbeach Office: +61 412 755 709

Marina Mirage Office: +61 4 12 755 709

 

References
Nuvaq. “Foreign Buyers Guide to Gold Coast Investment.” Accessed June 2024. Nuvaq.
The Property Tribune. “Investing in the Gold Coast: A Guide for Foreign Investors.” Accessed June 2024. The Property Tribune.