Surfers Paradise has been at the centre of major development of the Gold Coast throughout the past 30 years and while development has spread north and south, it remains the heart of the Gold Coast. With inauspicious beginnings as a place called Elston, Surfers Paradise has continued to flourish since the introduction of the Surfers Paradise Hotel by Jim Cavill in 1925. Occupying a relatively narrow stretch of land across the Nerang River from Southport, Surfers Paradise is one of the most famous beaches in Australia.
Riverside subdivisions in 1949 brought a number of restaurants, boutiques, specialist gift shops, and a cosmopolitan population to the area. By 1960 central Surfers Paradise could boast its first high-rise apartment block, Kinkabool, and within seven years the now-familiar skyline of apartment buildings was visible from a distance.
Surfers Paradise has a diverse population of around 20,000 people, comprising of families, couples and retirees. The population grows enormously during peak tourist seasons allowing the Gold Coast tourism market to provide a dynamic employment base for residents. Following the trend toward inner-city living, the area has enjoyed a resurgence of interest and demand for centrally located properties.
Attracting more than four million visitors each year, this world famous suburb is home to the world’s tallest residential tower Q1. This 80 level landmark reaches 322 metres in the sky capturing breathtaking ocean and hinterland views. The Hiton Surfers Paradise Hotel and Residences is one of the suburb’s newest developments and is due to be completed in 2010.
With development sites few and far between and given the continuing demand for centrally located properties, increased interstate migration and the continual upgrading of the Surfers Paradise retail precinct, the future of residential investment in the area looks bright.