The Broadbeach new apartment boom, and what's in store for 2025
Broadbeach has remained one of the most popular suburbs on Urban for the past four years, not just on the Gold Coast but nationally. The market has experienced growth at both ends, with one and two-bedroom apartments in high-density towers selling as quickly as luxury half and full-floor apartments.
No developer has had a greater impact on the Broadbeach apartment market than Morris Property Group. Patriarch Barry Morris moved into the Gold Coast development market nearly two decades ago when he delivered Verve. Now, Morris is working on its ninth and tenth developments in the suburb, having completed their eighth over the summer.
The company is building at both ends of the market, with the recently completed Malo offering just 16 half-floor apartments on Jubilee Avenue. Another higher-end project, Maison, is currently under construction just 600 meters away on Chelsea Avenue, with 21 full-floor apartments.
The largest project is located on the sought-after Armrick Avenue, where Morris is developing Crest—a dual-tower project with 339 apartments. Crest was one of the most popular on Urban in 2024, with the majority of the first tower already spoken for. Morris’ in-house building team has already started construction, with completion expected in mid-2027.
Sydney-based developer Iris Capital identified Broadbeach as the ideal suburb to break into the Queensland market. Iris Capital, led by billionaire hotelier Sam Arnaout, purchased the Niecion Plaza in 2021 and has since begun construction on the two towers development —Victoria & Albert—that will replace the iconic commercial block. Iris is committed to honoring the site’s heritage, with a full retail precinct located beneath the 425 apartments.
"Choosing Broadbeach as the location for our V&A project, in the vibrant heart of its dining and retail precinct, has allowed us to establish our brand with our first luxury venture into Queensland," Arnaout said. Iris launched the project in the middle of the pandemic, and of the first $200 million in sales, 80% went to interstate buyers.
Colliers Residential Director David Higgins compares Broadbeach to one of Sydney’s most affluent harbour suburbs.
“Being from Sydney, I often think that Broadbeach is our Double Bay—with the dining, high-end retail, laneway cafes, beautiful Kurrawa parkland, the beach, and the unique amenities of Broadbeach, all within a five-minute walk,” he said.
Similar to Morris Property Group, Iris Capital is also using its own construction arm, Iris Built, to deliver Victoria & Albert.
More supply is coming to the Broadbeach market in 2025 to hopefully satisfy the ongoing demand. The only new development to launch in 2025 so far is Affinity Broadbeach, the second local project by joint venture partners Amalgamated Property Group and Base Developments. Affinity, located on Chelsea Avenue, will comprise 180 apartments on the same street as Nikiforides Family Park, between Kurrawa Beach and Pacific Fair Shopping Centre.
The two and three-bedroom apartments across the 39-level glass tower will feature open-plan layouts, with sizes starting from 115 sqm for the two-bedroom apartments and 180 sqm for the three-bedroom apartments.
Affinity will also include a heated outdoor pool set amid extensive landscaping, a gym, sauna, yoga spaces, and several communal lounges and private dining areas for residents' use. Carly Cottam, CEO of MOTIV Group, which is handling sales, says Affinity stands out by offering an affordable luxury option, perfectly positioned near the beach and vibrant dining and retail precincts.
“With such strong off-market interest to date, it is clear that demand for premium residences remains robust. Whether seeking a lifestyle retreat, downsizing, or rightsizing, buyers are drawn to the seamless blend of convenience and elegance that Affinity provides.”
Also coming to the market soon will be AERIS Broadbeach, formerly known as Assana Broadbeach when it was launched in 2021. The Rosewood Avenue site was acquired by Melbourne-based developer Martello, who plans to launch 142 two and three-bedroom apartments in the coming months.
Busy developer Polycell has two new Broadbeach projects in the pipeline, following the success of its debut Gold Coast apartment development, The Rochester. MOTIV has sold well over 80 percent of the 182 apartments in the 42-level building on Surf Parade.
