HONGKONG and Taiwan have emerged in Australia as the biggest international markets for the luxury Sanctuary Cove residential project south of Brisbane.
Figures released for the 1992/93 financial year ended June 30 showed buyers from Hongkong purchased 11 properties, representing a 6.5 per cent share of purchasers, outranked only by Taiwanese buyers who bought 12.
Sanctuary Cove sales figures, meanwhile, continue to reflect strong demand in the top end of the residential market in Queensland.
While available data on Queensland property activity tends to indicate greater affordability as the key to a general preference for property in the lower end of that market, Sanctuary Cove homes sold for an average A$511,000 (about HK$2.8 million) in thelast financial year.
The residential resort on Queensland's Gold Coast has also recorded a 66 per cent increase on total sales figures for the 1992/93 financial year over the previous year.
With unconditional sales of residential property totalling a massive A$79 million for the 12-month period, Sanctuary Cove managing director Geoff Joyce said it was an ''outstanding'' feat.
''It shows that Sanctuary Cove buyers recognise quality, investment value and the lifestyle advantages available in this premier residential resort,'' he said.
