Kyko Group’s award-winning $150 million Mon Komo development at Redcliffe has recorded a successful first half of the 2015/2016 financial year, selling 15 new residential and short stay apartments in the five month period from July through to November 2015.
Priced between $315,000 and $1,295,000, the apartments in the latest uptake consisted of one, two and three bedroom configurations across both residential and short stay towers in the mixed-use development, with owner-occupiers and investor purchasers coming from the wider Brisbane market, as well as the local Redcliffe and Moreton Bay area and interstate.
Of the sales, one of Mon Komo Residences’ penthouse apartments sold for $1,295,000 – with only the final premium brand new penthouse now available for purchase.
The waterfront development is also proving a hot spot for astute investors, with recent buyers travelling from as far as New South Wales, Western Australia, South Australia and the Northern Territory to secure property in the multi-tower complex.
With the Redcliffe apartment market continuing to rise in the property cycle, TOTAL Property Group managing director and Mon Komo marketing manager Adrian Parsons said Mon Komo was attracting strong buyer interest for its residential and investment offerings.
“The first half of the 2015/2016 financial year has been very strong for Mon Komo and we are already recording high numbers of sales inquiries and inspections as we enter into the New Year,” Mr Parsons said.
“Brisbane’s property market is continuing to record healthy growth both in sales volumes and median sale prices, which is driving increased demand in Redcliffe, particularly for multi-storey developments, with apartment living becoming increasingly popular,” he said.
“According to the latest REIQ quarterly report, the Moreton Bay region – of which Redcliffe is part of – is continuing to perform strongly.
“The REIQ reports that steady increases in Moreton Bay region apartment sales are being boosted by increased buyer demand off the back of infrastructure improvements including the new $1.15 billion dual-track rail link connecting the Redcliffe Peninsula to the Brisbane CBD, due for completion in mid-2016, which is just six months away.
“Redcliffe is growing as a holiday and corporate business destination and with the latest infrastructure upgrades combined with easy access to the Brisbane CBD and the domestic and international airport, investors are realising the benefits of purchasing at Mon Komo.
“This is being reflected in our sales and feedback from purchasers, who are also attracted to the luxury waterfront lifestyle on offer at Mon Komo and the convenience of apartment living.
“Buyer momentum is on the rise and the outlook is positive as we move into the warmer months, which is typically a period of higher sales activity.
“The ongoing low interest rates have led to increased buyer confidence, as well as a greater demand for waterfront apartment living in South East Queensland.
“Astute buyers are continuing to be active in the marketplace and are purchasing property that is of higher end value, reflected by the recent sale of one of Mon Komo’s luxury penthouses at $1,295,000.”
The director of Mon Komo development company Kyko Group, Bill Jenkings, said Mon Komo was attracting a diverse range of buyers for its location, value and overall quality
“Mon Komo offers brand new luxury spacious apartments at an affordable price in the beachside suburb of Redcliffe, ideally situated on the esplanade to take advantage of uninterrupted ocean views that can’t be built out and easy access to many lifestyle, leisure and recreation opportunities,” Mr Jenkings said.
“Redcliffe has undergone a period of revitalisation in recent years, transforming into a cosmopolitan seaside village offering a laid-back coastal lifestyle, stylish waterfront cafés, chic restaurants and bars, along with a streetscaped esplanade,” he said.
“As developers we set out to capitalise on Mon Komo’s sweeping ocean views, designing spacious living environments with floor to ceiling windows and a seamless extension of the interior to the spacious balconies, creating an indoor-outdoor coastal ambience.
“At Kyko Group we travel the world researching design and developments and we have noted an emerging trend in Australia of people no longer wanting the upkeep of a house and land. Australia is evolving into the European city way of apartment living.”