THE latest Real Estate Institute of Queensland (REIQ) Market Monitor quarterly report shows the Redcliffe region’s apartment market is continuing to strengthen, withKyko Group’s $150 million Mon Komo development ideally situated to benefit.
The REIQ reports Redcliffe is rising in the property market cycle and experiencing a period of growth, increasing investor confidence.
Mon Komo at Redcliffe, an award-winning mixed use oceanfront development with a short-stay Oaks apartment tower and a residents only apartment tower, is attracting investors and home buyers as a stylish seaside property within close proximity of Brisbane’s CBD and airport.
The new rail line from Brisbane’s CBD to the Redcliffe Peninsula is due for completion next year, further boosting interest in the suburb.
Redcliffe is located in the Moreton Bay region, one of the fastest growing areas in Australia, with the population set to exceed 500,000 in the next 15 years.
Redcliffe is currently the sixth most searched for suburb in Queensland on realestate.com.au, behind Brisbane City, Surfers Paradise, Southport, New Farm, Burleigh Heads and Coorparoo, as buyer interest in the suburb increases.
Demand is strengthening in the Redcliffe apartment market with increasing interest from investors attracted by solid rental returns, creating opportunities to buy positively geared investment properties.
Dwellings financed for investment purposes in Queensland are at a five year high, according to the Australian Bureau of Statistics, showing increased property investor activity.
The current record low interest rates are lowering mortgage repayments and increasing the profitability of investment properties, encouraging investors to enter the property market and capitalise on the high rental demand.
The Moreton Bay region has the tightest rental vacancy rate in the greater Brisbane area, just 1.3 per cent, with local agents reporting continued strong tenant demand.
The greater Brisbane region’s rental returns and affordability compared to Sydney and Melbourne is likely to result in increasing investor activity moving forward, according to the REIQ report.
Redcliffe has emerged as the next oceanfront investment property and lifestyle hotspot, said Mon Komo development company Kyko Group’s Director Bill Jenkings.
“We have all seen Redcliffe’s transformation in recent years, becoming a cosmopolitan seaside village and café society hub with restaurants, bars and boutique shopping along a streetscaped esplanade,” Mr Jenkings said.
“Australians love oceanfront properties and a key factor in our due diligence was the opportunity to develop two oceanfront towers within Mon Komo at Redcliffe, being a short distance of the Brisbane CBD and airport,” he said.
“Redcliffe residents will soon have quick and easy rail transport to the Brisbane CBD, with major construction on the Moreton Bay rail project linking Brisbane to Redcliffe well under way.
“New infrastructure like this rail link typically encourages growth and we can see this happening in Redcliffe.
“This positive outlook, coupled with the rising property market, is encouraging more investors and home owners to look towards Redcliffe for their next property.”
Mon Komo marketing manager and TOTAL Property Group director Adrian Parsons said he has seen an increase in sales and interest in the property during the past few months.
“Mon Komo offers some of the only new prestige oceanfront residential and investment apartments in the prime location of Redcliffe, far enough away from the city to feel like you are on vacation but close enough for an easy daily commute,” Mr Parsons said.
“A significant benefit of buying a new apartment at Mon Komo is the purchaser can move in straight away or rent it for an immediate investment return, they are not waiting for construction of the property,” he said.
“Apartments in Mon Komo’s residential tower are priced from $335,000 for a one bedroom design and there is a selection of layouts up to three bedrooms plus study configurations.
“Investment apartments in Oaks Mon Komo short-stay apartment tower are priced from $285,000 and offer a return of 6.3 per cent plus room for capital growth – far better than the returns on offer from banks and financial institutions.
“Oaks Mon Komo apartments offer an immediate investment return starting at $345 per week, enviable occupancy rates due to strong demand for accommodation year-round, and the additional security and peace of mind provided by a performance undertaking agreement guaranteeing a return of permanent tenancy rates for the first two years.”
Oaks Mon Komo apartments are sold fully furnished in a contemporary décor and range from one-bedroom to three-bedroom dual key configurations, featuring open plan living and dining areas flowing onto expansive private balconies.
Mon Komo residential apartments range from one to three bedroom apartments, featuring floor to ceiling glass maximising natural light and waterfront views, oversized entertainer balconies seamlessly integrated with spacious open plan layouts, timeless stone and timber finishes, kitchens equipped with European appliances and ample storage space.
Situated at 99 Marine Parade, Redcliffe, Mon Komo is easily accessible to major urban environments, just a short drive to Brisbane’s CBD, with convenient access to Brisbane Domestic and International Airports.
Information supplied by Louise Carroll Marketing