Gold Coast unit sales: Developers clear $200m in sales across two tower projects in first half of 2025

Cost of living pressures have failed to dampen unit sales, with a pair of developers clearing more than $200m in six months across two tower projects. FULL STORY

Cost of living pressures have failed to dampen unit sales, with a pair of developers clearing more than $200m in six months across two tower projects.

The sales – in the high-end luxury towers of Mosaic Property Group’s $270 Madeline building at Broadbeach and MRCB’s Maris at Southport – come amid a dip in unit approvals.

Neither tower is yet complete, with both expected to be under construction until the 2027-28 financial year.

MRCB International CEO Ravi Krishnan said the sales in Maris, on the former site of the Sundale Motel, had been above expectations.

“Maris has resonated with buyers who recognise the long-term value in Southport’s transformation,” he said.

“The demand we’ve received to date validates our approach of creating considered, lifestyle-driven residences in locations with deep infrastructure, connectivity and lifestyle appeal.”

Units in the 20-storey building’s upper levels, including its penthouse, will be put to the market later this year.

Malaysian conglomerate MRCB International's $200m 192-apartment project Maris in Gold Coast's Southport, QLD.

Madeline will be Mosaic’s fifth tower in Broadbeach and 12th on the Gold Coast in the past six years, with construction expected to begin before Christmas.

Mosaic managing director Brook Monahan said he was “confident” in the future of the Gold Coast market.

“There’s no shortage of new product on the market – which makes buyer loyalty all the more significant,” he said.

“We’re fortunate that our product continues to resonate, because it reflects how people want to live now, and well into the future.

“It’s why our projects consistently sell out well before completion, and why we remain confident in the long-term strength of the region. Something we treasure and will never take for granted.”

It comes a week after new data compiled by real estate firm Colliers revealed the city was falling further behind in delivering its housing targets and driving prices up, with the average new unit now costing above $2m.

Artist impression of Madeline by Mosaic Property Group. Picture: Supplied

The research shows 2464 dwellings were approved on the Gold Coast between July 1 and May this year, 62 per cent below the 6500 target set by the state government.

The average price of new units has risen dramatically in recent years. In September 2023 it was $1.13m.

Colliers Gold Coast residential director David Higgins said a variety of factors had led to the latest price surge.

“We’re in a classic undersupply cycle – demand is there, but the projects aren’t being approved or delivered fast enough,” he said.

“The ongoing battle with construction costs, planning delays and most importantly, the lack of building has contributed to exploding costs.

“Productivity has taken a real hit and the big projects get badly affected by worker and weather delays and that has just led to the increase

“The problem is the supply and getting affordable projects, where units cost between $500,000 and $1m is now very difficult for medium and high rise developers.

“There’s a big supply shortage coming in the next three years and it is just falling away, so the targets are just not achievable in today’s market.”