Out door fire pit and waterfront

The Prestige AirBnb

The Gold Coast is often described as “glorious,” “stunning,” or “beautiful” in the media. And while there are many breathtaking locations in Australia, the Gold Coast stands out for its combination of location, beaches, theme parks, golf courses, and rainforest hinterlands. There truly is something for everyone here, which is why the Gold Coast attracts so many visitors during the holiday season.”

With international travel only beginning to find its feet again, the popularity of ‘staycations” (a vacation that is spent at home or at a local destination, rather than travelling to a distant location) shows no signs of slowing down! At the same time, many wealthy travellers are returning, and so is the demand for prestige, luxury rentals for that home away from home. With inflation rampant, now could be the time to consider adding a prestige property to your investment portfolio. Read on as we look at the top benefits of renting your prestige property for short-term stays. 

 

Increased rental income

Prestige properties command higher rental rates, which means you’ll earn more for each rental period. Plus, because these sort-after Gold Coast properties are in particularly high demand, you’ll likely have a higher occupancy rate and be able to rent out your property more frequently.

 

Personal use

As the property owner, you’ll also have the opportunity to occupy the property whenever you like or block out periods you wish to reserve it for personal use. Unlike tenants, you can still use and enjoy the property when you are in town. 

 

Tax benefits

Owning a vacation rental property can offer various tax benefits, including the ability to write off certain expenses related to the property, such as mortgage interest and property taxes.

 

Pride of ownership

There’s something satisfying about owning a beautiful, prestigious property. You’ll be able to show it off to friends and family and take pride in owning such a desirable  lifestyle property.

 

Capital Appreciation

Prestige properties appreciate in value over time, which means your investment could increase in value. With the softening of the current real estate market, this could be an excellent time to purchase prestige real estate.

 

Hedge against inflation

Buying property can be an excellent way to hedge against inflation. Prestige property is an asset that is seen by some investors as a stalwart against increases in costs of living. (You can read more about Prestige property as an asset here). 

 

House at night with lights on
If your going to staycation, make it a home to remember


The ups and downs

 

Of course, owning a luxury vacation rental property comes with its own challenges. There is a realistic possibility of fluctuating demand and rental rates. It’s a good idea to carefully evaluate this type of investment’s potential upfront and ongoing costs and benefits before making a decision.

Maintaining a high-end property can be costly, and you’ll need to work on marketing your property and finding reliable renters. But with the proper planning and management, the rewards of owning prestige Gold Coast real estate could yield dividends for years to come. 

So if you considering a ‘buy to rent’ – why settle for a mediocre holiday rental when you can have the property of a lifetime whilst also enjoying a significant additional income?

At Mercer & Cooper, we specialise in prestige homes and are excited to help you explore the possibilities for your own prestige home journey. Contact us today to get started and see what’s possible.

 

Designer Staircase in modern home

 

All information contained on this website is for your reference only. You should always make your own enquiries and seek independent legal advice in respect of any information about real estate law and the purchasing of real estate and related subjects. This website may contain hyperlinks to websites operated by parties other than Mercer & Cooper. Such hyperlinks are provided for reference only and Mercer & Cooper does not control such websites and is not responsible for their contents.

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