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Ephraim island’s sales surge real estate

A $7 million sales surge at the $555 million ephraim island luxury residential community at paradise point has been a positive start to 2009 for its developers.

The project, a jointventure between mirvac and the lewis land group of companies, involved the transformation of a vacant 9.6ha uninhabited sand island to one of the most luxurious residential island developments in Australia.

Mirvac queensland chief executive of development matthew wallace said the interest in ephraim island during december and january had been extremely high.

“We have had six sales of new and resale apartments for a total value of almost $7 million from early december to early january and there are a number of other prospective sales where we are going through the process of finalising contracts,”He said.

Mirvac head of sales onsite paul sanders said most of the sales had been to gold coast residents and there were a couple of instances where existing ephraim island residents had moved up to larger properties.One purchaser was from hong kong.

Mr wallace said the ralph lauren uk outlet most expensive apartment sold was in the reserve precinct and it went for $1.4 million.

“We have a number of people who have several properties on ephraim island, living in one and holding others for investment purposes,”He said.

“They realise that this type of property will never be repeated in a position like this and eventually, when economic conditions improve internationally, the market will realise what exceptional value is represented here today. ”

In december, mirvac unveiled a display beach house furnished with the ralph lauren range of furnishings and homewares and the developer said the response had been exceptional.

Mr wallace said people had driven from all over ralphlaurenuk the gold coast and as far away as brisbane and the sunshine coast to view the display, which can be viewed by appointment only.

“Many people had not visited ephraim island before and commented that they had no idea how special it really was,”He said.

Ephraim island boasts a 115berth direct ocean access marina and international standard recreational precincts featuring a health spa, a restaurant, two swimming pools, lap pool, a spa, a sauna, and a gym.