Cairns Property Market Update November 2019
Herron Todd White, Property and Finance Reporter
First published 07 November 2019, 11:44 AM
The stand out sale in terms of price in Cairns for 2019 was 2-4 Hibiscus Lane which was sold for $4 million in March by Belle Property. The property is a 2,679 square metre, absolute beach front site with over 65 metres of beach frontage improved with a contemporary home and lap pool and previously traded for $3.7 million in 2010.
Executive quality homes are synonymous with Port Douglas and the sale of 2 Murphy Street for $5.1 million in July by Sotheby’s International Realty continues that trend. The property is located high on Island Point with wonderful views and within walking distance of Macrossan Street. The site is developed with a fully renovated five bedroom home over three levels – a trophy property.
The other notable mention is the new development known as Shara Palm Cove being developed by Palm Cove veteran Bob Simkin. The development will be the first new complex in many years and the pre-sales to date suggest a strong level of underlying demand for the premium quality, family sized units. Only a couple of units remain for sale and construction is to commence in 2020.
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