This property was purchased for one of our clients “off the plan” from the Sunland Group in Palm Beach QLD for $775,000. The property showed great value compared to the market for a three x bedroom, two x bathroom and 2 x Garage property set on the largest block available in the precinct. The suggested rental of $875 per week provided a strong rental yield along with the known expected capital growth that is currently being experienced in the southern suburbs of the Gold Coast. The land allowed for some further extensive landscaping along with the inclusion of a swimming pool providing a fantastic outside living environment for a tenant whilst also providing a significant point of difference compared to any other rental property in the precinct. This distinction provide desirability and the ability to demand a higher rental. The property was tenant immediately upon hand over at the expected value of $875 per week with the estimate market value for this property on completion is $995,000.
“Off the Plan” purchasing can provide great equity growth on completion but significant research and investigation is required on the property you intend to purchase. There is a strategy to purchasing this way and MPBA can guide you all the way through the process to ensure you buy the right property at the right price attracting the right tenants.
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