News

Firstlight Noosa, a fractional real estate development In Queensland, Australia has achieved $106 million (AUS) in pre-sales in four months. The development, which is being marketed by the same company as Firstlight The K Club in Ireland, is the first beachfront development in Noosa in over a decade, prompting local papers to describe a “frenzy” of interest in the project, despite the fact that the fractional ownership concept is still realtively new in Australia.

Due for completion in 2012, Firstlight Noosa will occupy 100 metres of prime beachfront and feature 20 private residences with around-the-clock boutique hotel amenities and services. Three-bedroom residences are currently priced at $1.8 million (AUS), 4-bedrooms at $2.3 million (AUS), and whole ownership units are priced at $12 million (AUS).

A recent study commissioned by RCI suggested that the Australian and New Zealand fractional market could eventually be worth up to $9 billion (US).

FirstlightNoosa.com

13/08/10