Unit 10504 was bought off the plan for $850,000 in February 2008 and sold on May 30 this year for just $505,000, a 40.5 per cent drop in value. In July this year, unit 10607 sold for $435,000, a 32 per cent dip in price from January 2011 when a buyer paid $647,000. A unit on the 21st floor was purchased for $910,000 in January 2008 and sold in November last year for just $525,000."
See Courier Mail
An agent is quoted as saying losses of 30% on the Gold Coast are not unusual. Take care when buying!