Property Market back on the rise at Southern End of Coast
Coolangatta penthouse is something only $4m can buy
| November 21st, 2009
A $4 MILLION home in the sky has sparked hope for a resurgence in the southern Gold Coast luxury property market.
The sale of the Niecon’s Reflection Tower Two penthouse on the Coolangatta Esplanade marks the highest purchase in the region since the global downturn last year and has sparked hope that the property market is back on the rise.
A couple from Orange, NSW, who preferred not to be named, snapped up the 465sqm apartment through independent agent Stewart Rowe.
They are long-term investors in beachfront properties and already own several southern Gold Coast apartments in Niecon’s Reflection on the Sea and Nirvana by the Sea.
The buyers said they took advantage of the market and made a strategic decision to buy in the beachfront location.
”We have invested on the Gold Coast for many years and believe that with the exceptional standard of building quality and finishes, this is the best value for money,” they said.
Niecon CEO Con Nikiforides said the penthouse defined a new standard of luxury on the southern Gold Coast and would boost the area’s reputation for excellence.
Two other penthouses are still for sale and are priced at $3.35 million and $4.375 million.