Surfers Paradise Property Could Make Great Investment As Vacancy Rates Drop
Tenancy demands are high in the Gold Coast, with more people looking for accommodation across the region while the supply is dwindling. However, the number of investors interested in the region is beginning to increase, which could illustrate a great opportunity to purchase Surfers Paradise property and begin or expand your own portfolio in the coming months.
Real Estate Institute of Queensland (REIQ) Chief Executive Officer Anton Kardash said the Queensland rental market has returned to tight conditions over the last three months, which could highlight a potential investment opportunity for smart buyers in the future.
"Stronger tenant demand and a decrease in the availability of stock are the common themes across the state," said Mr Kardash in an April 17 statement.
The vacancy rate in the Gold Coast has fallen to 2.2 per cent. According to the REIQ release, these are the tightest circumstances seen in years, with vacancies taking up to just two weeks on the market before being filled.
Now could be a great time to consider securing real estate in Surfers Paradise – especially with the option of renting it out in the coming months for a side profit.