Russian investors show keen interest in Gold Coast properties

Russian investors around the world are becoming intrigued by prestige waterfront property on Queensland's Gold Coast by one of Australia's leading property developers, Mirvac.

International marketing group Kontinent is marketing specifically to Russian speaking investors interested in investment in prestige properties on the Queensland's Gold Coast.

The key property being promoted by Kontinent is the prestigious Ephraim Island located spectacularly in the Gold Coast's safewater harbour, The Broadwater.

A joint venture by Mirvac and The Lewis Land Group of Companies Ephraim Island is a world class development which has already attracted sales of more than $AUD400 million of villa homes, apartments and absolute waterfront beach houses.

Perched right on the water's edge all properties look across water, most across expansive seaways to environmentally protected foreshores. Ephraim Island is one of the dress-circle addresses in a city renowned for its prestige waterfront properties.

Kontinent has identified Russian-speaking investors as a having a strong interest in the type of high quality, beach and waterfront properties for which the Gold Coast has become famous.

Russian investors have taken a key interest in Gold Coast property, and recent research reveals that buyers from the Russian Federation is now one of the biggest foreign investors of residential property on the Gold Coast.

A report compiled by Colliers International shows Russian purchasers accounted for around $AUD35 million of property investment on the Gold Coast in the last financial year. This represents about 13 per cent of the total international investment in the Gold Coast for the 12 month period.

Known as "the Sunshine State", Queensland has long been a popular destination for Australian and international tourists, and the beachfront city of Gold Coast is one of its fastest growing urban centres.

Kontinent is reaching a growing number of elite Russian-speaking investors through links to international real estate operators, and its Russian-language website. The website has generated enormous internet traffic since it was launched early in September 2008.

The company is also tapping into the visitor market from Eastern Europe, including tourists, people on business trips and those visiting family or friends.

Kontinent director Joseph Golubinsky, said Ephraim Island was the perfect style of property to appeal to Russian-speaking investors.

"Russian-speaking investors are keen to invest in properties which promise good capital growth, and waterfront homes on Ephraim Island offer excellent opportunity as the project continues to grow in popularity," he said.

"Australia is a secure and stable country, and the Gold Coast has the added benefit of year-round sunshine and an attractive lifestyle that means that well positioned, quality properties will always be in high demand.

"The Gold Coast has seen nearly 50 years of sustained growth as people move to the subtropical sunbelt zones, and the city has established itself as a major international tourist centre.

"With excellent transport connections, a thriving local economy, an attractive international resort lifestyle and plenty of new growth and development in planning, the Gold Coast is an excellent location for international investment."

Kontinent is able to provide potential investors not only with information about property for sale, but with detailed information on Australian investment regulations and can assist in arranging contractual and financial issues.

Kontinent will also ensure that investors are fully informed about Australian taxes and laws and currency regulations which may affect their property investment and provide assistance with languages.

"Demand for Australian residential property from international investors has risen strongly over recent years and there are numerous attractions for overseas investors, including a sound economy and stable political environment," said Mr Golubinsky.

"Australian residential property represents an appealing lifestyle choice for many international buyers, but for most purchasers it offers a safe haven investment opportunity.

"Over the last 10 years, the Russian people have grown to represent an increasing proportion of the demand for foreign real estate, but the trend is still in its infancy, particularly in Australia."