The prestige rental market on the Gold Coast continues to evolve, with Kollosche achieving strong results amid increasing demand for high-end homes.

While the year started slower than anticipated, momentum is building, with the property management division growing its portfolio by 25 per cent in the past 11 months to 300 properties under management.

According to Kollosche’s Head of Property Management Todd Madgwick the growth is attributable to several factors, predominantly a rise in internal and external referrals, new business acquired through more strategic marketing and taking a more proactive approach to leasing.

An example of this was the off-market lease of a waterfront property in Etna Street on the Isle of Capri, where the team secured their highest rental transaction so far this year at $5,400 per week — a new leasing record within the enclave.

The property had been privately managed and was listed on a third-party platform. Through strategic prospecting, Kollosche connected with the owners, provided market insights, and showed the value of professional property management. They agreed to sign with Kollosche who then matched them with a suitable tenant for the record price.

High Demand Lifts Rents

Rental values in the luxury market have continued to rise in response to increased demand from a deepening pool of high-quality tenants.

In the past three years, the division has experienced a 15 per cent increase in the average weekly rent on its luxury properties, which has risen from $1,581 in 2023 to $1,823.

Kollosche’s position in the luxury market continues to attract a high-calibre tenant base willing to pay for quality.

“Our hot tenants list now holds about 40 prospective tenants waiting for the right home to become available,” Todd says.

While supply levels in the wider market have softened somewhat, at the luxury end of the rental market stock remains tight, with well-appointed properties renting for between $1,500 and $3,000 per week seeing the strongest demand.

Todd says a significant portion of high-end enquiries are coming from interstate professionals, corporate clients, and film industry executives, as the Gold Coast continues to position itself as one of the world’s leading film production hubs.

“The leasing opportunities within the film industry are huge,” Todd says. “We already have a lot of celebrities on our books and the film studios continue to reach out to us.

“We are one of few agencies in a position to source the calibre of property these types of clients require, so we are in a good position.”

Todd says most of their potential tenants are seeking fully furnished, move-in-ready homes for periods of 6 to 12 months, with beachfront and riverfront properties in the highest demand.

Service expansion

Having firmly established itself in the luxury rental market, Kollosche’s property management division is focused on continuing to grow its presence in key locations, including Palm Beach, Mermaid Beach, Broadbeach, and Main Beach.

Main Beach continues to attract short-term prestige tenants from Sydney and Melbourne seeking weekenders, while Palm Beach has seen increased demand for premium beachfront apartments and luxury homes.

With a dedicated 13-person team, Kollosche’s property management division is well-equipped to service this evolving market.

As demand for prestige rentals continues to rise, its focus remains on securing the best properties, delivering seamless management, and ensuring exceptional results for both landlords and tenants.

For premium property management services, reach out to the Kollosche team today.