Why buying an off the plan apartment on the Gold Coast makes sense for downsizers
The COVID-induced boom has transformed the off-the-plan apartment market in the Gold Coast.
Since early 2020, when lockdowns restricted movement in and out of Australia, the Gold Coast has emerged as one of the country’s strongest property markets. As the nation returned to normalcy and borders reopened, demand for apartments remained robust. However, a significant shift has occurred in the types of apartments being developed, skewed heavily in favor of downsizers.
Gone are the days dominated by large skyscrapers, with only a few exceptions from Harry Triguboff's Meriton. The trend now favors large-scale apartments, most spanning half and full floors. Over the last few years, these types of residences have been sought after by affluent local downsizers and buyers from Sydney and Melbourne looking for a family holiday home, a future retirement pad, or a property that can serve both purposes.
Developers are increasingly focusing on A-grade sites, ideally situated as close to the beach as possible. Even those bringing much-needed density to the Gold Coast are reserving a significant portion of apartments toward the top end of the building for larger units.
As the market adapts to these trends, we take a closer look at the Gold Coast apartment developments that are providing exciting options for downsizers.
What: Capri
Where: 81 Salerno Street, Isle Of Capri QLD 4217
Who: Monaco Property Group
One of the most popular developments on the Gold Coast for downsizers has been the Isle of South Melbourne villa development, Capri.
South Melbourne, the largest residential development on the Isle of Capri for three decades, is tailor-made for the local downsizer.
The villa-style development, in the quiet, private suburb just outside Surfers Paradise, has been a hit with downsizers since launching late last year.
The 48 villas, designed by Plus Architecture, sit in a gated community and are cleverly positioned around a central resort-style pool, adjoining residents' lounge, and several outdoor dining spaces surrounded by landscaping.
The development features a variety of villa configurations, including two and three-level homes. Each villa offers either three or four bedrooms, with living spaces ranging from 241 sqm to 370 sqm.
Construction firm Greyburn recently started the build for developer Monaco Property Group. They're expecting buyers to be moving into their villas at the end of 2025.
Read more: Why rightsizers and downsizers are buying new villas on Isle of Capri
What: Lagoon
Where: 11 Cronin Avenue, Main Beach QLD 4217
Who: Drew Group
Drew Group has placed a significant focus on the downsizer market in its game-changing Main Beach apartment development, Lagoon.
Lagoon comprises two 32 and 34-level towers with 259 apartments, centred around a lagoon pool and resort-style amenities.
While a significant number of the apartments in the building are large enough to suit a lock-up-and-leave downsizer, the recently released Signature Collection—referring to the 12 sub-penthouses and penthouses—has been the most appealing to locals.
Several of the sub-penthouses have been snapped up by locals, while interstate interest from Sydney and Melbourne is still apparent.
"The unrepeatable nature of these apartments hasn't been lost on buyers," Drew Group Managing Director Jon Drew told Urban.
"It will be hard to replicate the sheer size of these apartments. No expense has been spared to create these luxurious sub-penthouses and penthouses. At this price point, it’s an opportunity that may never be repeated in a new Main Beach development."
Lagoon Main Beach is currently under construction by renowned builder Hutchies, who expect to complete in late 2025.
Read more: Buyers snap up Drew Group's Signature Collection at Lagoon Main Beach
What: Victoria & Albert
Where: 20 Albert Avenue, Broadbeach QLD 4218
Who: Iris Capital
Downsizers have been catered for in the $1 billion Broadbeach apartment development, Victoria & Albert.
Developed by Sam Arnaout's Iris Capital, Victoria & Albertre affectionately known as V&A, comprises just under 400 apartments across two towers on the site of the old Neicon Plaza in the heart of Broadbeach.
The higher a buyer goes in the towers, the larger the apartments become. The Albert Tower is better suited for downsizers, featuring larger floor plans throughout.
V&A Broadbeach will become the new home of high-end retail on the Gold Coast with the ground floor offering elevated ceiling heights for the luxe retail experience.
The twin towers will share a subtropical recreational podium on level four, giving access for all residents to world-class amenities such as a 25-metre lap pool, a fully equipped gym, a yoga deck and a resident’s lounge. The podium will also feature a children’s area, a Zen garden, and an outdoor dining and barbecue area adorned with lush green landscape.
Iris Capital recently brought construction in-house to deliver Victoria & Albertis Build is set to complete the development in 2027.
Read more: Inside the Victoria & Albert, Broadbeach apartment towers
What: Malo Broadbeach
Where: 8 Jubilee Avenue, Broadbeach QLD 4218
Who: Morris Property Group
Every apartment in Morris Property Group's latest development, Malo Broadbeach, is designed to suit the owner-occupier.
The veteran developer is offering just 16 three-bedroom apartments in the Jubilee Avenue building, right next to
Each apartment spans half a floor, around 130 sqm of internal living space and feature floor-to-ceiling windows and balconies that capture extensive views across the Gold Coast skyline and over the beach.
The apartments feature Cassa Lusso tapware, Franke kitchen appliances, and Bosch laundry appliances.
Malo’s location offers residents easy access to Surf Parade, known for its dining options, as well as Pacific Fair, the largest shopping centre on the Gold Coast.
It's a stone's throw from the Broadbeach North light rail station, as well as the Gold Coast Convention and Exhibition Centre which is slated for a $700 million redevelopment to turn it into a world-class entertainment precinct.
Malo is well under construction by Morris' in-house construction team, and is expected to be completed by late 2024.
What: Athena Residences & Athena Quays, Hope Island
Where: 6-8 Sickle Avenue, Hope Island QLD 4212 and 10 Sickle Avenue, Hope Island QLD 4212
Who: Aniko Group
Athena Residences and Athena Quays are two adjacent developments by respected developer-builder Aniko Group on Hope Island.
Athena Residences, which is recently completed and nearly sold out, is a unique product in that it provides an adaptive layout typically unseen in apartment floorplans, allocating additional space to allow for the choice of working from home, plus the resort style facilities and the abundance of open space and greenery which covers a massive 60 per cent of the site.
Athena Quays has been designed in a similar fashion.
Currently under construction and approaching completion, Athena Quays comprises two eight-level buildings with 177 apartments. Only a handful of the three-bedroom skyhome-style apartments remain. They have three bedrooms, one study, three bathrooms, and two car spaces.
Athena Quays offers amenities comparable to its neighbor, including two swimming pools, a state-of-the-art gym with personal training suites, a spa, and a sauna. Additionally, there’s a private screening room with 14 seats—perfect for movie nights with friends and family—along with a residents' lounge and a beautifully landscaped courtyard garden.
Both developments by Aniko are part of the developer's transformative vision for Hope Island. They represent two of five successful projects Aniko has delivered on the island, providing much-needed options for downsizers in the area.
