Surfers Paradise is a gorgeous little suburb in the city of Gold Coast, Queensland. Gold Coast is part of our list of the top cities in Australia for Chinese investors. Characterized by high-rise apartment rentals and its iconic and beautiful surf beach, Surfers Paradise is, for most of the time, more of a tourist town. Only a handful get to live here and experience this little piece of heaven, while thousands and thousands of vacationers from all over the country, and the world, swarm this luxurious neighborhood for its white, sandy beach and the best shopping experience the whole of Gold Coast has to offer. Purchasing Surfers Paradise real estate is a once-in-a-lifetime ticket to a never-ending high-end vacation that none can offer anywhere else.
Surfers Paradise Real Estate: By the Numbers
Surfers Paradise has a property visit average of 145, a bit off-target compared to the Queensland state average of 374. However, this is mostly due to the fact that the residents are loyal to the area, and that the town economy relies heavily on the tourists arriving every day to experience what it has to offer, which means short–term rentals are the most common and most ideal way to stay in the area.
The median house price for a real estate property in Surfers Paradise sits currently at $1,100,000, and with it one can find a beautiful 3-bedroom home just a stone’s throw away from the waves of the beach. A 4-bedroom house unit here costs $1,555,000 in the average. With last year’s 117 total home sales and data from the previous years, Surfers Paradise’s median house price has increased by 6.7%, amounting to a 1.3% increase in the compound annual growth. Rent here can go for $635 per week in the average, with a 4-bedroom space costing only $968 per week. Based on over a hundred property rentals and the 137 sales in property, the rental yield in this suburb is at 3%.
As of the last survey, it is home to almost 20,000 residents. And of this number, only half of the residents are Australian-born. The other half is comprised mainly of the British, the Indians, and the Chinese.
(Data from Realestate.com.au)
Why Choose Surfer's Paradise
Aside from being a world-renowned tourist spot and a daytime vacation destination, it also plays a part in Gold Coast’s role in being the Australian capital of nightlife, attracting over 20,000 people every day. Bars and nightclubs come alive as soon as the sun sets on the western part of the area, while the day offers some fun and relaxation under the sun or the Gold Coast shopping experience.
Surfers Paradise is an apartment town, which can clearly be seen with the high-rise apartment building landscape that is home to the suburb. There are a few villas and townhouses here and there, but seeing that a large portion of its weekend population consists of vacationers, short-term rentals are usually the way to go. It does not mean, however, that the Surfers Paradise real estate market is cooling down. Established independents, mature families and foreign investors alike often look for open spots in this all-year round tropical paradise in hopes of settling roots in amidst its buzz or investing on its future.
Other Popular Suburbs in Queensland
Other States in Australia
Other locations in Australia are equally as desirable as Queensland. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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