Aussies Snap Up a Stake in Soul Tower

Australians make up about 75% of the buyers in the new Soul luxury apartment super-tower on the Gold Coast. In the super-tower, a total 77 apartments have been sold since November, worth over $115 million.

Marketing agent Erle Cramer said that the apartments had received a surprising level of uptake from Gold Coasters, including many medical professionals from across south-east Queensland.

The building made headlines recently when a three-bedroom unit on the 66th floor sold to a Chinese family for $4.6 million. Cramer claimed that international buyers came from Africa, Russia and other European countries too.

He said that most had a connection to Australia such as children studying here, or a business operating here.

While many southern Australian investors think of the Gold Coast as only a holiday spot, overseas buyers were more likely to see it as a year-round beachfront  location in a stable economy. They secured long-term asset protection that is located in a trophy building, he noted.

Source: http://www.goldcoast.com.au/article/2013/06/13/453077_gold-coast-business.html