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12 August 2007
SALES of "prestige" apartments on the Sunshine Coast are thriving

Buyers are snapping up luxury units, lured by the area's picturesque beaches and waterfront streets.

Recent PRDnationwide research shows 24 per cent of unit sales in the Noosa region are in the $700,000-plus price range.

"The highest volume of unit sales was recorded in Noosaville, which has seen the release of both new and renovated low-density unit developments adjacent to the Noosa River and surrounds," said PRD nationwide Sunshine Coast research analyst Charlie Shing.

Noosa Heads (61 units) and Sunshine Beach (21 units) recorded the next highest volumes of unit sales.

"Both suburbs comprise a higher proportion of prestige low-density new unit product," Mr Shing said.

At Coolum Beach, midway between Noosa and Maroochydore, developers Ariadne Australia Ltd and Hawaiian Management Group have just released the last remaining penthouse to the market for $1.7 million.

"It features six-star interior finishes, a spacious open-plan design and contemporary decor," said Ariadne chief executive Murray Boyte.

The penthouse has three bedrooms, a media room and three car spaces.

"We expect a lot of interest from local as well as interstate purchasers," Mr Boyte said.

Marketing agent Justine Coleman said the prestige market had been particularly active in recent months.

"Prestige property in blue-chip locations in the Noosa and Sunshine Beach area has been selling well and we are starting to see a flow-on at Coolum with an increasing number of properties over $1 million selling quickly," she said.

Completed last year, Element on Coolum Beach comprises 42 luxury apartments and six penthouses.

Its premier penthouse set a new benchmark price of $3 million last year when sold to a Melbourne couple.

Forecasts from the Queensland Government indicate the Sunshine Coast population could reach almost 475,000 by 2026.

Some vendors are going to new heights to boost unit prices by using blimps to photograph their properties.

Byron Miller, managing director of Sunshine Coast business Top Snap Marketing, which specialises in aerial, elevated and blimp photography to show off properties, said agents such as Ray White, L.J. Hooker, Carolans First National, REMAX, Colliers International and Century 21 had used its services to gain an edge in the competitive market. 

 
 
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