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Off-the-plan buyers have snapped up 40 per cent of a $650 million development in the Gold Coast suburb of Helensvale, defying jitters about the impact of the coronavirus on the market.

The Serenity 4212 waterfront development launched by Brisbane-based Keylin and Kinstone racked up more than $30 million in sales following 1,200 inquiries over the last three months.

The masterplanned development has offered up housing lots, with reserve and waterview land as well as absolute waterfront land from prices ranging between $500,000 and $1,300,000.

The project is multi-staged and will also encompass retirement, retail and apartments in addition to townhouses, residential land and a marina.

Local MP David Crisafulli said the strong result was part of the unique attributes of the northern Gold Coast.

“If the outbreak of this pandemic has shown us anything it’s that people value their health and safety,” Crisafulli said.

“When you couple that with the fantastic lifestyle and job opportunities on the northern Gold Coast you have a recipe for investment success.”

Tony Ashwin, director of property marketing group Ashwin Property, said the result had not come as a surprise due to the critical shortage of land in the northern suburbs of the Gold Coast.

“There was some uncertainty about fielding enquiries during Covid-19, local buyers had been waiting a long time for the release of Serenity 4212,” Ashwin said.

“The developers did their research and knew of the limited waterfront availability in the area.”

Originally published by The Urban Developer