Paradiso Place, Surfers Paradise, secures $100m in apartment sales following successful launch

International developer SPG Land has notched up $100 million in sales at Paradiso Place, as construction continues on what will become one of the largest new mixed-use precincts in Surfers Paradise.

The $1.5 billion development is taking shape in North Surfers Paradise, an increasingly active pocket of the suburb that has attracted significant development and investment in recent years.

Paradiso Place will ultimately comprise three residential towers alongside an extensive retail, dining and lifestyle precinct across its substantial 1.15-hectare site, which stretches an entire block from Surfers Paradise Boulevard through to Ferny Avenue.

Just 100 metres from the beach, SPG Land has approached Paradiso Place as more of a resort-style village than a traditional apartment development, with residents able to live, dine, exercise and socialise without having to leave the precinct.

That proposition has particularly resonated with local downsizers, which SPG Land Sales Director Brad McMahon said had emerged as one of the project's strongest buyer groups.

Many are long-term Gold Coast residents who are selling larger family homes but have little interest in leaving the area or compromising on the lifestyle they have become accustomed to.

"We are seeing a convergence of local downsizers seeking a vibrant village lifestyle, alongside interstate buyers who want the ultimate lock-and-leave coastal home," McMahon said.

"Local downsizers have been some of our strongest buyers, and it tells us something important. They're not just looking for a smaller home, they're looking for a lifestyle. That's exactly what we've set out to deliver here."

McMahon said a significant number of those buyers had lived on the Gold Coast for 20 or 30 years and were looking for a different way to live in the same part of the city.

"They aren't looking to leave the area, just to live in it differently," he said.

"It's reinforced the concept we designed around from the outset: giving long-term locals a way to stay in the area they love, without compromising on lifestyle."

The strength of local downsizer demand comes as the buyer profile across the Gold Coast's new apartment market continues to evolve, particularly at the premium end where larger apartments, extensive amenity and low-maintenance living are increasingly being targeted at owner-occupiers moving out of established homes.

Paradiso Place's location also puts residents within walking distance of Surfers Paradise Beach, while Budds Beach, Macintosh Island, Main Beach, The Spit and the Southport Seaway are all within easy reach.

McMahon said the response from downsizers had reinforced SPG Land's decision to create a broader lifestyle precinct rather than simply a collection of residential towers.

"Paradiso Place is about creating a village where residents won't even need to leave," McMahon said.

Interstate buyers have been another significant source of demand, with SPG Land Marketing Director Stephen Wang pointing to Brisbane investors as well as purchasers from further afield looking for exposure to the Gold Coast.

Wang said the combination of the city's rental market, lifestyle appeal and the fact Paradiso Place is already under construction had helped give interstate purchasers greater confidence.

"Buyers are drawn to more than just the address. It's the combination of an unmatched lifestyle precinct and the certainty of seeing construction progress on-site," Wang said.

"With SPG Built delivering the build, that confidence is well placed."

The lock-and-leave nature of the development has also broadened its appeal beyond traditional investors.

SPG Land has seen buyers looking at apartments as everything from a long-term investment or future retirement base to a Gold Coast home they may occupy for only a few months each year.

"We're seeing a real influx of interstate investors who've recognised the growth trajectory of the Gold Coast, but what's converting them is the lock-and-leave lifestyle being offered," Wang said.

"They want a home they can safely leave, then come back to a lifestyle precinct with everything on their doorstep. That combination of low-maintenance living and coastal lifestyle is proving to be a powerful drawcard for this buyer group."

For SPG Land, the latest sales milestone comes as the scale of Paradiso Place becomes increasingly visible on site.

The developer is delivering the project through its construction arm SPG Built, providing the developer-builder model that has become increasingly important to buyers seeking greater certainty in the off-the-plan market.

"We set out to build something Paradiso Place's buyers would be genuinely excited to live in, and that's exactly what's happening," Wang said.

"Watching this project come to life has been a real privilege, and we're looking forward to the next chapter."

Apartments at Paradiso Place are priced from $905,000, with the first tower expected to be completed in late 2029.