Media release - 5th August, 2016

Many holidaymakers to Surfers Paradise prefer apartments in buildings with outdoor pools, heated indoor pools, gymnasiums and tennis courts
Free WiFi and Foxtel can boost returns for older apartments
Absolute beachfront is still a winning ingredient for holiday rentals regardless of the age of a building
Surfers Paradise remains the holiday sweet spot for overseas visitors from China, India and Singapore, ahead of Main Beach and Broad Beach

With the Commonwealth Games only 19 months away, Gold Coast holiday units offering the maximum in bells and whistles are sure to boost owner returns when the quadrennial sporting festival arrives in Southern Queensland in April 2018.

“People are more particular about the facilities they require when renting holiday units, whether it’s for the Easter or Christmas holidays, or a major event such as the Commonwealth Games,” said Clark Brackenridge, Principal of Raine & Horne Surfers Paradise.

Surfers Paradise “Many holidaymakers prefer to stay in buildings with outdoor pools, heated indoor pools, gymnasiums and tennis courts.

“Older buildings which don’t offer these facilities won’t attract the same level of booking activity as newer developments.”

The pressure on older buildings will be magnified as more new developments – such as the 88-storey mixed use tower at 3 Trickett Street, Surfers Paradise – come to market, according to Mr Brackenridge.

This new development is currently under construction on a 494 square metre site where the Iluka Beachfront Resort previously stood. The Iluka was built in the1970s and was one of the first high-rise buildings on the beachfront at Surfers Paradise.

“If apartments in older buildings don’t offer the sweeteners modern holidaymakers now expect, they will struggle with bookings,” said Mr Brackenridge.

“With this in mind, many units in the older buildings are transitioning to permanent rentals, as they are unable to produce sustainable returns from holiday lettings.”

That said, units in older buildings located on the beachfront at Surfers Paradise, Main Beach or Broad Beach will have the capacity to deliver generous returns.

“Only so many buildings offer absolute beachfront, so apartments in these properties, regardless of their age, will still attract premium tariffs,” said Mr Brackenridge.

“At the same time, most of the absolute beachfront buildings are usually owner-occupied apartments, so the very few absolute beachfront apartments that are available for holiday letting, still command premium rents.”

For owners with older apartments in buildings not on absolute beachfronts, Mr Brackenridge advises there are a number of carrots that will help them catch the eye of holidaymakers.

“Some factors are outside the control of owners such as a building’s lack of gymnasium or tennis court facilities,” said Mr Brackenridge.

“However, as an owner, you have the capacity to ensure your holiday unit offers free WiFi and Foxtel, presents a contemporary vacation experience, and is very well furnished.

“Indeed, those units offering WiFi attract more bookings that units that don’t offer free internet.”

Surfers Paradise continues to maintain its mantle as the Gold Coast’s holiday sweet spot for international tourists.

“Overseas visitors haven’t necessarily heard of Broad Beach or Main Beach but they’ve heard of Surfers Paradise,” said Mr Brackenridge.

“The majority of our overseas tourists are from China, India and Singapore and they want to be where the action is – and this is Surfers Paradise.

“Broad Beach and Main Beach tend to attract local holidaymakers from Queensland because they don’t want to be in the middle of everything.”

To find out more about the real estate sales, permanent and holiday management markets in Surfers Paradise and surrounding suburbs, contact Raine & Horne Surfers Paradise on 07 5531 6911.

–ENDS–

For further media information contact:

Clark Brackenridge, Principal of Raine & Horne Surfers Paradise on 0412 160 954

Andrew Harrington, National Communications Manager, Raine & Horne, on 02 9258 5400

Bells and whistles ensure happy returns for Gold Coast holiday unit owners