The level-19 penthouse at One Burleigh has sold for a Queensland record of $32.5 million.
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- A beachfront penthouse on the Gold Coast has smashed Queensland’s off-the-plan apartment price record, selling for $30 million as the state’s prestige property market continues to defy broader cost-of-living pressures.
- Developer Mayd announced the sale of the double-storey residence atop the One Burleigh development at Burleigh Heads on Monday, eclipsing the previous $24 million benchmark set in 2023.
- Spanning levels 18 and 19, the apartment will include 525 square metres of internal space and 237 square metres of outdoor area, including a rooftop terrace with an infinity pool, bringing the total to 762 square metres.
- MAS Architecture PRD Burleigh Heads selling agent Freddie Tehle said the buyer had surveyed the south-east Queensland market extensively before committing $32.5 million to the penthouse.
- “At this level, buyers aren’t just purchasing a property, they’re making a decision that becomes part of their legacy,” he said.
The sale of the level-19 penthouse at One Burleigh has set a new record for Queensland, fetching $32.5 million and surpassing the previous benchmark of $24 million established in 2023. This double-storey residence, developed by Mayd, spans 762 square metres and features luxurious amenities, including a rooftop terrace with an infinity pool.
The sale, announced on Monday, underscores the resilience of Queensland's high-end real estate market, which continues to attract buyers despite prevailing economic challenges.
Freddie Tehle, the selling agent from MAS Architecture PRD Burleigh Heads, highlighted that the buyer conducted extensive research on the south-east Queensland market before committing to this significant investment.
This transaction not only reflects the ongoing demand for luxury properties but also illustrates the stark housing divide in Queensland, where the prestige market remains robust while broader segments face cost-of-living pressures.
As the luxury property market thrives, it raises questions about affordability and access for average buyers in the region, further emphasizing the economic disparities present in Queensland's housing landscape.
- The record-breaking sale of the level-19 penthouse at One Burleigh for $32.5 million highlights the resilience of Queensland's luxury property market amidst economic challenges, attracting high-net-worth individuals seeking premium investments.
- This sale not only sets a new benchmark for off-the-plan apartments in the region but also signals confidence among affluent buyers, potentially driving further investment in local real estate and related sectors.
- As developers and real estate agents benefit from increased demand, local businesses may see a boost as new residents contribute to the economy, enhancing the overall vibrancy of the Gold Coast community.
- Watch for the Queensland government to announce new luxury property regulations within the next 30 days, following the record sale at One Burleigh.
- Keep an eye on major real estate developers in the Asia Pacific region, as they may reveal new high-end projects in response to the growing demand for luxury properties within the next quarter.
- Monitor the actions of local investors, as several are expected to make significant purchases in the luxury market within the next 72 hours, capitalizing on the recent sale.
- Anticipate comments from economic analysts during the upcoming quarterly earnings calls, focusing on the impact of high-value real estate transactions on the broader market trends in the region.
- Look for updates from the Burleigh Heads Chamber of Commerce regarding potential infrastructure developments aimed at attracting more high-net-worth individuals, expected to be announced before the end of the month.