Gold Coast tops Queensland with 19 per cent jump in multi-unit land values

first_imgColliers International national director project marketing residential Tony Hymus said the Coast was a hot spot for Chinese developers. Picture: Richard GoslingColliers International national director project marketing residential Tony Hymus said the Coast was a hot spot for Chinese developers.“The number of Chinese developers who have bought sites on the Gold Coast is astounding and a lot of it is driven by the fact that they don’t have to get construction finance for their projects,” Mr Hymus said.“That’s often a major issue for Australian developers.”He predicted the influx of Chinese developers to continue. “They believe the overseas investor market and individual unit sales will improve dramatically,” he said. Wanda Ridong’s $1 billion Jewel development in Surfers Paradise is under construction. Photo: David ClarkCHINESE developers are behind a massive surge in towers on the Gold Coast with multi-unit land values hitting $15 billion this year.The figure, from Queensland’s Valuer-General, shows the Coast’s multi-unit land value jumped 19 per cent.That’s up from $13 billion last year and $10 billion in 2015.The 2017 Property Market Movement Report shows the city recorded Queensland’s largest increase in multi-unit land values.Across the state, most regions declined in value while Brisbane only increased by two per cent.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North10 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day ago“Driven by demand from offshore developers, Surfers Paradise and Broadbeach recorded significant increases in multi-unit land value,” the report states.last_img read more

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Tipp go in search of All-Ireland semi spot

first_imgThe Premier County take on Wexford in the quarter-finals this afternoon.The game is being played in Walsh Park, Waterford, and begins at 2.30pm.Tipp manager Brian Boyle is looking forward to seeing how his players deal with the challenge posed by the Leinster county. Tipp FM will have regular updates on the match this afternoon.The other All-Ireland Quarter-Final is also being played today.Kilkenny and Offaly meet in McDonagh Park, Nenagh.That encounter starts at 2.30 too.last_img

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