Capri Is Hot Property With 50 Percent Now Sold

WORDS: Ocean Road Magazine PHOTOGRAPHY Supplied

The first residential opportunity of its kind to be offered in the Isle of Capri precinct in more than three decades.

Isle of Capri’s first large-scale residential project in over 30 years, Capri, is proving to be in high demand with 50 per cent of the development sold just four months after the master planned community hit the market.

Located on a rare 1.2-hectare site, the project developed by Monaco Property Group (MPG) represents the largest (in one line) residential land holding in the popular Isle of Capri, with construction due to start in late 2023.

With strategic dual street frontages onto Salerno and Elliott Street, Capri provides a luxury inner city living option that has been met with unprecedented market demand with just 24 of the existing 48 villas remaining priced from $2.19 million.

NPA Projects Director Andrew Erwin, who has been appointed to market the project, says Capri has entered the market at just the right time as astute buyers have wasted no time securing a villa in light of the nation’s widespread housing crisis.

“Unfortunately, the Gold Coast is not exempt from the nationwide housing shortage that has seen rental stock in the city continue to tighten and house prices continue to rise, all of which are adding increasing pressure to the local housing market,” says Mr Erwin.

“Capri is unique in that it provides a townhouse offering to the market which is meeting a high demand for buyers looking to downsize from a large family home, but who are not wanting to transition to an apartment lifestyle. Here they have the privacy and space of a private dwelling, but with all the convenience of low maintenance living and connectivity with a prime Isle of Capri location.

“To date, 25 per cent of buyers are downsizing while a high percentage of buyers are seeking to upgrade their suburb position and residence, and Capri not only offers stunning, brand new architecturally designed villas, but a perfect location close to all the lifestyle amenities Isle of Capri has to offer.”

Designed by award-winning firm Plus Architecture, the luxury residential project offers a selection of two and three-level villas ranging in size from 259sqm to 388sqm. There are both three and four-bedroom options available with multi-purpose rooms, and secure double garages.

All 48 villas have been individually designed with their own unique personality allowing buyers to select their villa based on what design resonates with them and their own personal preferences.

Mr Erwin says Capri is the first residential opportunity of its kind to be offered in the Isle of Capri precinct in more than three decades.

“Capri offers high-end inner city living with beautiful architecturally designed luxury villas, set within an exclusive gated community anchored by world-class, resort-style, resident-only amenities,” says Mr Erwin.

“The Gold Coast has not seen a residential development of this calibre in such a prominent inner-city location in a very long time, which is why Capri is ticking the boxes for a huge range of buyers.

“With a prime locale close by – Surfers Paradise, Bundall and Broadbeach – it is hard to beat Capri’s top location right in the heart of the city yet tucked away in a quiet residential pocket, long revered as one of the most coveted addresses on the Gold Coast.”

Residents at Capri are privy to exclusive access to the development’s central recreational space which houses a collection of world-class communal facilities surrounded by a leafy garden retreat.

Designed by highly revered landscape architect firm LDG, the elaborate residents-only facilities include a resort-style pool with submerged lounge chairs, an outdoor dining terrace, a lawn terrace and a covered barbeque area and dining pavilion with a built-in barbeque.

Designed to provide an escape from the stressors of everyday life, the tranquil environment features palms, canopy shade trees, and lush, tropical-inspired plants surrounding shaded cabanas, sunken deck terraces, and covered lounge areas.

Residents of Capri will also have exclusive access to an indoor residence lounge area complete with a built-in bar, sophisticated dining area, fully-equipped kitchen, electric fireplace, and a large screen television.

The onsite sales display is open from 10am – 2pm, seven days a week.