If you’re thinking of investing in the Sunshine Coast in 2020, you’ve made a smart move. This beautiful stretch of coastline in Queensland, Australia offers some of the best investment opportunities for those looking to make a profit in the property market. To help you get started, we’ve put together a list of the 5 best areas to invest in on the Sunshine Coast this year.
1. Maroochydore
Maroochydore is located in the heart of the Sunshine Coast, just 10 minutes from the beach. It’s a bustling hub of activity with plenty of shopping, dining and entertainment options. With the development of the new Maroochydore CBD, this area is set to become a major commercial centre, making it a fantastic investment opportunity.
2. Noosa Heads
Noosa Heads is a picturesque coastal town known for its stunning beaches, national park and boutique shopping. The property market in Noosa Heads has been steadily growing over the past few years, making it a popular destination for investors. With its relaxed lifestyle and natural beauty, Noosa Heads is an attractive proposition for both holiday home buyers and those looking for a long-term investment.
3. Caloundra
Caloundra is a family-friendly beachside town with a laid-back vibe. Its proximity to the new Sunshine Coast University Hospital makes it an attractive location for medical professionals and students. With several new developments in the pipeline, the property market in Caloundra is expected to continue to grow in 2020 and beyond.
4. Mooloolaba
Mooloolaba is a bustling coastal town with a thriving tourism industry. Its beautiful beaches, restaurants and bars attract visitors from all over the world. With new developments planned for Mooloolaba, including a new marina and waterfront precinct, the property market in this area is set to boom in the coming years.
5. Kawana Waters
Kawana Waters is a growing coastal community located just south of Mooloolaba. With the development of the new Sunshine Coast Health Precinct and the Oceanside Kawana Waters master-planned community, this area is set to become a major medical and commercial hub. This presents a fantastic investment opportunity for those looking to get in early.
If you’re considering investing in the Sunshine Coast, there are a few things you need to keep in mind.
Tips for Investing in the Sunshine Coast Property Market
1. Do Your Research
Before you invest in any property, it’s important to do your research. This includes looking at property prices, rental yields, vacancy rates, and any upcoming developments in the area. Websites such as Domain and Realestate.com.au can be great resources for researching the property market.
2. Work with a Local Real Estate Agent
A local real estate agent can provide valuable insights into the property market in your chosen area. They can advise you on the best suburbs to invest in, as well as provide information on any upcoming developments that may affect property values.
3. Consider the Type of Property
When investing in property on the Sunshine Coast, consider the type of property that’s most likely to attract tenants. Beachside apartments and townhouses are popular options, as are family homes in suburban areas. It’s important to choose a property that will appeal to your target rental market.
4. Think Long-Term
When investing in property, it’s important to think long-term. This means considering factors such as population growth, infrastructure development, and employment opportunities in the area. The Sunshine Coast is experiencing steady population growth, with a projected population of over 400,000 by 2040. Choosing an area that’s set to grow will ensure your investment is successful in the long run.
Ideas for Making the Most of Your Sunshine Coast Investment
1. Rent Out Your Property as a Holiday Home
The Sunshine Coast is a popular holiday destination, with visitors from all over the world flocking to its beautiful beaches and attractions. By renting out your property as a holiday home, you can generate a healthy rental income during peak tourist season.
2. Work with a Property Manager
A property manager can take care of all aspects of your rental property, from finding tenants to collecting rent. This can save you time and hassle, and ensure your investment property is in good hands.
3. Make Renovations or Upgrades
Making renovations or upgrades to your investment property can help boost its value and appeal to tenants. Consider adding modern fixtures and fittings or landscaping the garden to create a more inviting space.
4. Consider a House and Land Package
A house and land package can be a great option for those looking to invest in property on the Sunshine Coast. This involves purchasing a block of land and collaborating with a builder to construct a new home. This can be a cost-effective way to build an investment property that meets your exact specifications.
How to Invest in the Sunshine Coast Property Market
1. Get in Touch with a Local Real Estate Agent
Getting in touch with a local real estate agent is the first step to investing in the Sunshine Coast property market. They can provide you with valuable insights into the best suburbs to invest in, as well as keep you up-to-date on any new developments in the area.
2. Research the Property Market
Researching the property market is essential before making any investment decisions. Take a look at property prices, rental yields, vacancy rates, and any upcoming developments in the area. This will help you make an informed decision about where to invest.
3. Seek Professional Advice
Seeking professional advice from a financial advisor, solicitor or accountant can also be valuable when investing in property. They can provide you with information on tax implications, financing options, and legal requirements.
4. Consider Your Budget
When investing in property, it’s essential to consider your budget. This includes not only the purchase price but also ongoing maintenance costs, property management fees, and any other expenses associated with owning an investment property.
Investing in the Sunshine Coast property market can be a fantastic opportunity to build long-term wealth. By following these tips and ideas, you’ll be on your way to making the most of your investment – and enjoying all that this beautiful part of Queensland has to offer.
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