$22 million unit 'a bargain' even as glitter strip's property market cools

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The Gold Coast's iconic high-rises are home to some of the most expensive units in the country, and while a downturn in the property market is being felt across Australia, the Glitter Strip's unit prices are still strong.

The sale of a $22 million unit in Burleigh Heads is the most expensive off-the-plan unit sale in Queensland's historyProperty analysts say the market is strong but slowing

New CoreLogic data revealed units on the Gold Coast were among the most expensive in the state at a median price of $672,021., 41.4 per cent of Gold Coasters live in an apartment or townhouse. "The Gold Coast is going to be one of those markets that's still going to continue to produce price growth, but I think the level of growth is going to be less than it was in the last two years."heritage Old Burleigh Theatre ArcadeSales and marketing director for Weiya Holdings, Patrick Pancur, said the Burleigh penthouse was the most expensive off-the-plan unit sale in Queensland's history.

"Houses in many parts of the country and the Gold Coast have become prohibitively expensive for some people," he said.

 

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Wonder how much if any tax people with this kind of money pays a year. Last year 84 millionaires paid no tax at all this is why we need a flat rate consumption tax which catches everyone especially those who have the most to spend and no clever account to claim tax for them

Gotta keep that money laundering wheel spinning .......

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