Primed to Invest: Plaza Central poised to sizzle in a hot market
Construction is now well underway at Plaza Central, Maroochydore on the Sunshine Coast – and it’s a sight for sore eyes for tenants and investors alike.
The current market conditions out there have made quality rentals hot property.
Demand is high.
Vacancies are low.
Weekly rental prices have increased significantly.
In fact, according to domain.com.au unit rental prices on the Sunshine Coast - Queensland’s top lifestyle hotspot - actually outperformed Brisbane and reached record highs in the December 2020 quarter, early signs that Plaza Central is shaping up as an outstanding investment opportunity.
Pindan has just had Plaza Central’s two-bedroom apartments appraised by two separate real estate agencies to see how the current climate will affect prices.
Ray White has weekly rental prices for two bedroom, one bathroom units (such as Type G) up $30 from July 2020 to $450-$470. Century 21 is even more optimistic, believing investors are more likely to achieve a weekly price between $470 and $500.
For two bedroom, two bathroom units (such as Type B and E), Ray White appraisals are up $50 to $490-$510, while Century 21 price appraisals figures have climbed to as high as $520-$550.
While these are indicative prices only, they provide an exciting snapshot of where Plaza Central’s weekly rental prices are trending (hint – it’s upwards).
So why the rental price explosion?
The lure of Maroochydore is real.
Liveability has always been a strong motivator, and you can’t go past the lifestyle and idyllic climate of the Sunshine Coast.
But there’s another big factor at play here - the pandemic effect. Residents are now actively pursuing locales that have the virus under control so they can safeguard their health and wellbeing by enjoying an active lifestyle and normality at home and at work. Research from the Australian Government’s Centre for Population released late last year revealed capital cities had a net loss of 10,500 people to regional areas in the quarter to June 2020, which set a new record for the largest net quarterly move.
And it might be a trend that’s here to stay. In today’s era of remote working arrangements people are no longer tied to capital cities, meaning establishing roots in holiday and lifestyle locations has the potential to become the new normal.?
For the time being at least, with interest rates at record-lows, we can expect the high volumes of buyers entering the Maroochydore market to drive up rental prices and pin rental vacancy rates down.
Capitalise on the rental shortage, with Plaza Central
Tenants are crying out for low care new rentals in Maroochydore – time to step up to the plate and bring those investment plans into fruition in 2021.
Expected to be completed by the last quarter of 2021, Plaza Central’s stylish and functional two-bedroom apartments are set to sell like fish & chips on the beach at sunset. Located less than 100m from Maroochydore’s vibrant retail hub, these flexible, relaxed, modern spaces will be irresistible to renters looking to get in the market and take full advantage of the cruisy coastal paradise lifestyle on offer.
Two-bedroom apartments at Plaza Central are available to buy off the plan from just $443,000. Don’t miss your opportunity to meet demand in this rental shortage – choose your apartment here.