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CONSTRUCTION has started early on a $125m tower because it sold out in less than 12 weeks.

The 185-unit, eight-level Athena Residences is the third project from Aniko Group to sell out in Hope Island in two years.

Aniko boss George Mastrocostas said many of the buyers had missed out on units in his previous projects – No. 1 and No. 35, Grant Ave.

“Sales have continued strongly in the new year and there seems to be no end in sight in terms of appetite for Hope Island,” he said.

“We never could have predicted Athena’s sales would reach the fever pitch they did, but we are incredibly proud to have produced one of the precinct’s most sought-after projects in some time.

“We are thrilled with the speed and passion with which buyers approached Athena and are looking forward to bringing this spectacular project to life.”

Property sales remained high across the city in the first weeks of 2022.

A Bulletin report on Saturday revealed the market was on track for an 11 per cent increase this year, above the forecast national increase of eight per cent. The clamour for Coast homes has put the city 15th in the world for annual price growth.

However, some leading real estate agents say they expect the market to cool slightly from the record-breaking figures of 2020 and 2021.

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Written by Andrew Potts. Originally published by Gold Coast Bulletin
FEBRUARY 2, 2022