17 March 2016
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Developers are raking in hundreds of millions of dollars as demand for new Gold Coast apartments reaches record levels.
The latest quarterly report by market researcher Urbis reveals that there were 1494 sales in 2015, an 81 per cent jump on the previous year.
The Gold Coast central region, which includes Surfers Paradise and Broadbeach, was the standout performer with an average weighted price of $633,465 for the December quarter.
This figure was based on sales valued at $160 million.
Citimark Properties was among companies to enjoy outstanding sales, raking in $26 million from its Markwell Residences tower at the corner of Markwell Ave and Surfers Paradise Blvd.
Markwell Residences weighted price was $814,394, which helped push the region’s price up by $53,611, the biggest regional increase.