The latest Herron Todd White December review has offered some insight into the strength of the commercial market in the Gold Coast, which could be encouraging for anyone interested in securing their own investment commercial property in Surfers Paradise over the coming months.
Details from the report point towards a steady commercial market, with the retail market expected to see some rough spots along the way. Current observations pointed out by the report include increasing international investor activity – with many of these buyers coming from Asia – which could be creating a degree of competition in the near future. Taking charge of your investment potential and making moves into the market now could be a brilliant way to get into a strengthening market.
However, the report also highlighted the increasing demand for rental demand for commercial properties along popular spots in the area, including the Gold Coast Highway between Mermaid Beach and Burleigh Heads. Taking the initiative to purchase commercial real estate in these spaces and providing a rental opportunity – especially as the Gold Coast continues to see population development – could lead to a healthy rental income.
Southport was one area that saw interest expressed in 2014, with Minister for State Development, Infrastructure and Planning Jeff Seeney stating the area's redevelopment would help to revitalise the space.
"Our government is determined to make the best use of state land, whether it be offering land to community groups for charitable purposes or to private parties with the financial capacity to revitalise sites," said Mr Seeney in a 24 September statement.
"We also pledged to deliver better planning and last year, in conjunction with council, we declared central Southport a Priority Development Area to streamline the approvals processes and fast-track development."
As these priority areas continues to pop up across the Gold Coast, there's the potential for even more attention to be paid towards helping get these commercial developments off the ground. It could be worth looking into securing a commercial investment in an upcoming project, in order to bolster your portfolio and aid the growth of your wealth.
Furthermore, the Real Estate Institute of Queensland (REIQ) recently offered some insight into how to help boost the state's property market, stating that the removal of stamp duty on real estate transactions would be conducive to a higher turnover rate for the property sector.
REIQ chief executive officer Antonia Mercorella said real estate contributes more than $8billion towards the state's economy, while also providing almost 50,000 jobs across the region. With these figures being supported well into the future, a growing economy is great news for owners of commercial real estate in Surfers Paradise.
"Stamp duty on property transactions should be abolished and replaced by a more efficient source of revenue. It's a regressive tax which imposes additional costs on property transactions, thereby discouraging turnover of housing and distorting choices between renting and buying," said Ms Mercorella in a 19 January statement.
Furthermore, the proposal to bring back first home buyer grants for existing property, as well as letting buyers use their superannuation for their home purchase endeavours, would be greatly encouraging for the growth of the local area, she went on to say.
Now could be a wonderful time to get serious about looking into investing in Surfers Paradise commercial property. Get in touch with a local real estate agent today to start looking into the possible projects available now – or in the near future – to start the development of your commercial investment portfolio.