Gold Coast's off the plan property market activity booms amid COVID

Gold Coast’s off-the-plan property market is booming with numerous projects achieving record sales amid COVID-19.

There remains a very strong market awareness and interest in the finite supply of waterfront land on the Gold Coast, said Keylin executive Louis Cheung.

The sale of Serenity 4212, a joint venture from development groups Keylin and Kinstone and the last waterfront land project on the northern Gold Coast, "defied" the market as the city’s best-selling land estate.

The $650 million waterfront project revealed $55 million in land sales during the pandemic, with 75 of Serenity Waters’ 110 blocks sold to local and interstate buyers.

The sales result, which includes first home buyers taking advantage of up to $40,000 in government incentives, comes as Serenity accelerates its construction program.

A number of luxury, off-the-plan apartment projects across the Gold Coast have achieved high interest.

Such projects include the $74 million Flow Residences at Rainbow Bay by S&S Projects and Spyre Group’s $77 million Nature project at Burleigh Heads.

Serenity Green received over 350 enquiries in just three weeks and deposits for a third of the townhomes on offer.

The Serenity Green, a collection of 60 four-bedroom, two-bathroom, were priced from just $489,000.

Kinstone’s James Chou said Serenity 4212 will become an exciting multi-year, multi-staged master-planned project which will include retirement living, additional townhomes and a mini marina precinct.

“We’re proud of the success of Serenity Waters and Serenity Green and look forward to continuing to develop this emerging community over the coming years,” said Chou.

First settlements of the land release in Serenity is set to occur towards the end of this year.