In a sign that Australia’s property market is getting even crazier, a tennis court in Queensland has sold for the eye-watering price of $2.9 million.
The tennis court is located on a 1,000 square meter block on Virginia Drive in the Gold Coast suburb of Hope Island.
At $2.9 million, the tennis court sold for three and a half times the median house price in Brisbane, which is $818,000.
The tennis court was advertised by Professionals Vertullo Real Estate as “a great opportunity to secure a fantastic waterfront block situated on the Grand Canal with a stunning north exposure.”
In 2010, the original owners purchased two 1,000-square-meter blocks next to each other for $1 million each.
They built a house on one block and the tennis court on the other.
At $2.9 million, the tennis court sold for three and a half times the median house price in Brisbane, which is $818,000.
In 2010, the original owners purchased two 1,000-square-meter blocks next to each other for $1 million each.
Real estate agent Cassie Jiang of Professionals Vertullo Real Estate said wellbeing.com.au This was the first time I had sold a tennis court.
“Buyers are willing to pay a premium for land at Sanctuary Cove and Hope Island Resort,” Ms. Jiang said.
Ms. Jiang, there aren’t many empty blocks left in such a prestigious area.
“Buyers see blocks on offer and will buy them and accumulate land,” he said.
Ms. Jiang there are not many empty blocks left in such a prestigious area
Hope Island Resort, which forms much of Hope Island, is a gated community with 24-hour manned security.
Located at the northern end of the Gold Coast, Hope Island is known for its canals, golf courses and luxury waterfront homes.
The suburb is considered a mecca for boating and golf enthusiasts.
Hope Island Resort, which forms a large part of Hope Island, is a gated community with 24-hour manned security.
The complex has facilities including a marina, semi-Olympic swimming pool, golf course, tennis and 24-hour security.
Ms Jiang said the buyers of the tennis court were Gold Coast locals and planned to build a house on the property.
