- Developers catering to a growing trend of luxury downsizers, says Jayde Pezet
- Fad driven by a desire for less maintenance without losing luxury
- Aperture and Flow Residences among hot properties on the Gold Coast
New residents are flocking to the Gold Coast with predictions the population will surpass one million by 2051, and many buyers are using the move as an opportunity to downsize.
Buyers in the area are trading in space for style, opting for smaller yet spacious luxury homes in proximity to the coast.
Luxury downsizers sweeping the market
The luxury downsizer trend is sweeping the Gold Coast, overtaking off the plan sales in favour of beachfront apartments offering sought-after ocean views.
Jayde Pezet of KM Sales & Marketing said he expects the downsizing fad to continue as the borders are lifted and new prospective buyers flow in during the summer.
“The strength of the off the plan market is heavily focused on the luxury downsizer, whether local or interstate, wanting to downsize to luxury homes and live in properties that have unobstructed ocean views or views that cannot be built out.”
Jayde Pezet, KM Sales & Marketing
Mr Pezet said the phenomenon arose during the pandemic and shows no signs of slowing, having been driven by a collective desire to downsize without sacrificing luxury.
He added that developers are seizing the opportunity to and are shifting their attention away from investor markets towards catering to downsizing needs.
Aperture – luxury meets lifestyle
Little Projects, a prominent Melbourne developer, has recently unveiled plans for a 29-apartment Broadbeach development.
The aptly named Aperture development offers three-bedroom full floor and double story apartments with unobstructed views to the coastline just a hundred metres away.
“Aperture downsizes maintenance and upgrades lifestyle – which is really the embodiment of what we’re talking about when we say ‘luxury downsizer’,” said Mr Pezet.
Mr Pezet added that he has already received high interest from interstate buyers regarding Aperture, and believes the reopening of borders both domestically and internationally will only see this interest compounded.
“We’re witnessing those projects that steer away from the high density modelling barely spending a second on the market before they’re snapped up by buyers eager to set up their life on the ocean’s doorstep,” he said.
Flow Residences – a surfer’s haven
Further South down the coast in Rainbow Bay is Flow Residences by S&S Projects, offering 22 apartments with a unique surf-inspired aesthetic.
The building doesn’t compromise on a luxurious feel and provides the all the essentials for the surfing enthusiast, including surfboard storage, a surf craft preparation room, and outdoor foot washes and showers.
“Developers are getting increasingly savvy with what they can bring to the table for the well-heeled downsizer, and Flow managed to fuse together the two pillars of Gold Coast downsizing appeal – space and ocean – to record incredible success.”
Jayde Pezet, KM Sales & Marketing
S&S Projects’ developments have a history of sales success, with Rainbow Bay projects Awaken selling for an average of $4.7 million and Espirit achieving $71 million in sales in a single weekend.
