There's good news for anyone looking to invest in Broadbeach real estate.
Figures show that $2.3 billion in development is planned for Broadbeach and its surrounding suburbs in 2013.
This is likely due to the upcoming Gold Coast Commonwealth Games, which are set to provide a huge boost to the local economy. The Games will bring increased visitor numbers to the city, so it's likely that demand for apartments for rent in the Gold Coast will skyrocket before the Games hit town in 2018.
Recent government figures reveal that the Gold Coast is home to a third of Queensland's major building project proposals filed in the first six weeks of the State Assessment and Referral Agency.
The proposals, if approved, are expected to boost the local construction industry by hundreds of millions of dollars. A significant proportion of the developments are tipped to be large-scale residential properties.
The increase in development combined with the continued rise in Gold Coast property sales suggests a strengthening market for the popular area.
Investors looking to take advantage of the favourable conditions should contact the team at Ray White Broadbeach for expert advice.