$6 million in Salt sales

TWO Brisbane buyers have paid more than $6 million for their slice of Salt with the last of the beachfront lots at the high-end development being snapped up within weeks of being released to the market.

Gold Coast-based Golden Edge Homes sold a 775 square metre lot, with 19 metres of beach frontage, to a Brisbane buyer for $3.29 million, or $4245 per square metre. A new benchmark for land sales at Salt Village has been set after an undisclosed buyer paid almost $3 million for a 621 square metre site in the Southbeach release, which offers the last absolute beachfront lots of the development.

The sale set a new land price record of $4830 per square metre, eclipsing the previous Southbeach record of $4250 per square metre.

Salt Village director of sales Andrew Ladd said these sales came at a time when gloomy world economic conditions have seen a slow-down in the real estate market.

"In many other locations, demand and property prices have taken a step back due to the current economic climate," Mr Ladd said.

"So to achieve two major sales including a new price record is a real measure of the strength and reputation of the Salt Village."

The population cap included in the Far North Coast Regional strategy, that effectively limits the amount of new land to be made available on the Tweed is encouraging people to buy now, or miss out, Mr Ladd added.

"People are recognising that land supply is going to become increasingly constrained here and want to ensure they secure quality home sites, irrespective of what has been happened in the broader economy in recent months," said Mr Ladd who added the expansion of the Gold Coast Airport and the opening of the Tugun Bypass were also helping to lure cashed-up buyers from south-east Queensland to the area.

"Southbeach, until its recent sell-out offered the last of Salt Village's absolute beachfront lots, and there are now only a few resales within the precinct which are being managed by Salt Village Real Estate."

Golden Edge Homes managing director Michael Mouglalis said Salt Village represented value for money when compared to absolute beachfront sites located on the Gold Coast.



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