Luxury Palm Beach Living a Hit For Buyers
Buyers are eagerly seizing opportunities for luxury living in Palm Beach, as Sherpa Property Group's 'Perspective Nexus' and 5Point Projects' 'Ophira' collectively achieve over $65 million in sales within weeks of launching.
Perspective Nexus: Situated on a 1,583sqm site at 949-953 Gold Coast Highway, Perspective Nexus is a nine-storey development offering 32 spacious apartments, including two half-floor penthouses and three sky homes with private rooftops. Aiming for completion in Q3 2025, 14 out of 32 apartments, including both penthouses, have already been sold. The $45 million in sales highlight the demand for luxury living in this part of the Gold Coast. The project boasts unrivaled residents' recreational and state-of-the-art amenities.
Image: Perspective Nexus, Sherpa Property Group.
Ophira Palm Beach: Valuing at $60 million, Ophira Palm Beach takes advantage of the scarcity of ultra-luxury apartments in the Gold Coast's new "millionaire's row." The project, located on Jefferson Lane, has sold three whole-floor apartments for over $7 million each. Comprising seven full-floor sky homes and a two-level penthouse, Ophira offers spacious living areas with open balconies and floor-to-ceiling glass windows. The penthouse, featuring 637sqm of living space, includes a private outdoor entertainment area with a pool, spa, sauna, sundeck, teppanyaki bar, sunken lounge, and fire pit. The project has seen substantial sales activity, particularly from locals recognizing the limited availability of such luxury in Palm Beach.
Image: Ophira, 5Point Projects.
Market Trend: These sales align with a notable uptick in Gold Coast apartment sales, with data from Urbis indicating 470 sales in Q3 of 2023, up from 200 in Q2 of the same year. The surge in demand underscores the appeal of premium developments in sought-after locations.
The success of Perspective Nexus and Ophira reflects the growing appetite for high-end living experiences on the Gold Coast, with buyers recognizing the scarcity and unique offerings of these luxury projects.