23/1 The Esplanade Surfers Paradise QLD 4217
23/1 The Esplanade Surfers Paradise QLD 4217
Beachfront 2-bed unit|Recent $1.5M sale|$985pw rental potential|Boutique 1972 build| $1.77M est value. This two-bedroom unit on a 118sqm lot in a beachfront complex suits downsizers or investors eyeing holiday income near the sand. Occupying the full eastern side of the ninth floor in a low-density 44-apartment building, it delivers expansive ocean views across multiple aspects without high-rise obstruction. The 115sqm layout renovated recently supports comfortable living or short-term letting, backed by direct beach access and north-facing pool. Sitting beachfront on The Esplanade positions it ahead of typical Surfers Paradise units, away from denser tower blocks yet steps from Cavill Avenue’s bustle. Buyers drawn here include sea-change retirees valuing boutique scale over mega-developments, plus investors chasing yields above the local 4.5% median. Similar beachfront apartments hold firm, trading at premiums to the $770k unit median after recent sales like this one’s $1.5M in 2024. Long-term appeal stems from the irreplaceable esplanade site and strata-managed upkeep, including updated glazing. In a market favoring absolute waterfront, this stands out for its connected yet quiet stance, with resale likely buoyed by scarcity. Rental estimates near $1,000 weekly affirm its income reliability amid tourism demand.
Market Insight:
Surfers Paradise demand is still fuelled by tourism, renewed trust in large-scale projects and the Paradiso Place towers finally restarting construction with premium apartments and curated retail to anchor the northern strip. Buyers seek that beachside lifestyle plus the stronger rent lift in units versus houses, keeping investor interest alive even as visitors and build-to-rent stock continue to circulate. Risks come from the pipeline of new supply, but growth levers include the new retail precinct, ongoing Gold Coast tourism recovery and Olympic-linked infrastructure, while prices over the past six months have been flat to gently rising for units and largely steady for houses.