what do surfing, tourism and property all have in common?
Australia arguably has some of the most sought-after water in the world. Not for its fresh, crystal clear lakes and streams, but rather its salty, barrel shaped waves. Of all the places you can go to hang ten, Surfers Paradise is among one of the most famous. But with a name like that, you likely wouldn't expect any less, would you?
The coast isn't just a paradise for surfers, however. Tourists who prefer to hang back on the beach and watch the excitement from under the protection of an umbrella also find the area equally entertaining.
If you're into surfing, this is an ideal spot for you for a number of reasons. Perhaps surfing is a passion of yours, then it's a great place to live, but it can also make for a sizeable property investment opportunity. Here's just a couple of reasons as to why you should look into the amazing Surfers Paradise property market.
Surfing's impact on the Gold Coast
First of all, we have to address the nonstop tourist industry. According to the City of Gold Coast's website, the surf industry rakes in about $3.3 billion to the city's annual economy. Not only is the water famously perfect for a challenging surf year round, but the coast also hosts several major surf competitions throughout the year like the Quicksilver Pro. Of course, the area is built around the surfing community as there are numerous shops, schools, clubs, festivals, you name it, all devoted to the sport and lifestyle.
Overall, this region needs to employ about 21,000 people in order to keep the tourism afloat – which, according to the latest Census data, is roughly the same as Surfer Paradise's population.
Property market in Surfers Paradise
The property market in Surfers Paradise is buzzing with activity at the moment – but it's only going to get busier in the next couple of years. Major developers are entering the area and will be building apartment buildings to allow more people to live right on the coast. Naturally, this construction property will only increase the value of surrounding properties, and will draw in more tourists and residents alike.
This is a golden opportunity to invest in property on the coast. You stand to make a lot of money no matter what you end up doing with it. Someone who decides to rent out their place can charge decent prices to the tenants to live in a coveted spot on the coast. Of course, someone with a prime time spot on the coast can also provide you with a fair amount of income should you sell it to the right buyer. But at the end of the day, it could be a great place for you to settle down as well.
Should you want to get in on this market, you should do it sooner rather than later – much sooner, for that matter. However, if you're already sitting on a bit of property now, it might be worth your while to see how much it is valued at now. Using the expertise of your local real estate agent, you could formulate a strategic plan to make the most of that property.
If you want to work on investing in the Gold Coast property market – whether that be to rent or buy for yourself, or dive into the rental property – give our knowledgeable real estates a call today. We'll help you find the perfect spot (but catching the waves are up to you).