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Gold Coast: Indian millionaires and cashed-up expats are Jewel developer’s latest focus

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first_imgLucas Wilson (R) Jewel Sales and Marketing Director and Patrick Pancur Managing Director, Projects & Development of Sotheby’s International Realty pictured at the Jewel site. Photo: Steve HollandINDIAN millionaires are the latest target in an international sales push by the developers of the $1 billion dollar Jewel project in Surfers Paradise.China’s Dalian Wanda group, which is developing the Surfers Paradise project in a joint venture with Ridong Group, has moved its attention offshore in a bid to secure wealthy expat buyers.The developers engaged Sotheby’s International Realty to market the apartments overseas.Jewel sales and marketing director Lucas Wilson said Indian buyers were in their sights.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:41Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:41 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenClose Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.check out developments virtually!00:41 Related videos 00:41check out developments virtually!01:60Sneak peak inside Hawksburn Place Residences02:02Sneak peak: FV building03:05The Converted: Boot Factory01:30Dream Home: North Sydney00:45Dream Architecture: Mandalay House“We found that there are more millionaires in India per capita than anywhere else in the world,” he said.“What is really interesting is the buyers we have had are from Spain, France and Saudi Arabia but the forecasted interest is from India.”“China was touted as a heavy buyer market but we have only seen them snap up the more affordable units in tower one, and they have only had an 8 per cent buying impact. It is quite obvious they will use those apartments as investments.He said despite the overwhelming attention from overseas buyers it would be mostly Australians looking for a slice of paradise.“Out of the 511 units I would be very surprised if 65 per cent didn’t sell to the domestic Australian market,” Mr Wilson said.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North9 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoLucas Wilson (R) Jewel Sales and Marketing Director pictured at the Jewel site. Photo: Steve HollandSotheby’s Managing Director Patrick Pancur said the international sales pitch to sell the Jewel project into markets including New Zealand, India, Japan, Taiwan and the Middle East, came off the back of data-based research.“New Zealand is the first stop because of its neighbouring location and we have received a very high amount of interest from New Zealand owner occupiers,” he said.“The New Zealand economy is also doing well and these buyers won’t need FIRB approval, which adds to the interest we are getting from them.“There is such a huge shift in the market from downsizes and investors to owner occupiers and people who want to buy a luxury property to keep.The development is well into construction ahead of its expected completion in 2019.At the Corner Wharf St, and Old Burleigh Rd, Jewel’s three-tower project is slowly emerging from the sand with five cranes working on the site.Buyers will fork out $675,000 for one bedroom apartments and prices for two-bedroom apartments start from $1.434 million.last_img read more