YIKES! Keep an eye on CAIRNS!!

I just contacted an agent in Cairns about a unit
$64,000 listing price
1x1x1
$250pw rent :)
10k pa bc :eek::eek::eek:

There is a problem with severely increased insurance premiums in cyclone areas. This may be the reason the BC is so high but on the other hand the unit costs are low.
 
I just contacted an agent in Cairns about a unit
$64,000 listing price
1x1x1
$250pw rent :)
10k pa bc :eek::eek::eek:

You do need to be very careful with units, especially in large complexes.
Could you please clarify though. Is that 10k for a single unit? How many in the complex? What kind of a complex?

cheers

Jen
 
I'd be surprised if the development went ahead. It seems a bit far fetched. I bought the cairns newspaper the day it summarised the 10 large projects for the area. The Aquis development was No.1. What made me sceptical was the $500m project for SCONI. I actually have shares in the company that own the tenement and they haven't even completed a feasibility study so suggesting a $500m project is so far off its laughable. The company has a market cap of <$20m.

Just the fact the SCONI project was touted suggests there was a fair bit of pie-in-the-sky with the article and the projects.
 
i still don't get it.

let;s assume he gets to build his casino and resort.. yey..Big boost to economy:rolleyes:

what happens once construction is finished??

I don't see ppl queuing outside of cairns casino or No vacancy signs at most existing resorts..

Building another casino or another resort isn't exactly a good indicator for cairns property market IMHO!
 
i still don't get it.

let;s assume he gets to build his casino and resort.. yey..Big boost to economy:rolleyes:

what happens once construction is finished??

I don't see ppl queuing outside of cairns casino or No vacancy signs at most existing resorts..

Building another casino or another resort isn't exactly a good indicator for cairns property market IMHO!

I have to agree, just like the Commonwealth Games coming to the Gold Coast is supposed to give us all a boost and turn the local economy around. It's more likely to bankrupt us!
 
I've mentioned it before but it does have a different feel here. I don't know if it will ever translate to property prices but the people here seem pretty happy. I've mentioned it before to my brother. When you chat to people, they all say that they love living here. I'm not used to that.

I listened to a segment about tourism on the radio today. They discussed a QLD wide tourism survey which included some general 'happiness' questions. The residents of the Cairns region provided the highest response QLD wide to the statement 'I wouldn't want to live anywhere else'. Something like that anyway.

It may not help property prices but the people living here seem to be happy.
 
I heard on the radio today that apparently Cairns residents are the 'kinkiest' too with the region purchasing more online sex toys than anywhere else.

Might explain why people are happy all the time too :D
 
I heard on the radio today that apparently Cairns residents are the 'kinkiest' too with the region purchasing more online sex toys than anywhere else.

Might explain why people are happy all the time too :D

That wasn't on the radio. That's written inside the sex shop above the register.
 
Re Aquis. 8 registrations have been received for a casino license in Queensland. Further registrations can be made to end of February I believe. Not sure the break up between the new one for Brisbane and the two for regional Queensland. But 3 new licenses will be awarded.

31st March EOI must be lodged. Then some, all, or none will invited to submit a full application. After all is done and dusted the actual plans may vary a great deal so be aware. End of process expected early next year but could vary dependent of number of applications to review.

http://www.brisbanetimes.com.au/que...erest-of-eight-developers-20140117-30yz0.html
 
Yes, I saw a similar article in the Cairns Post. Looks like a few on the Gold Coast, and Central QLD are competing. I find it hard to imagine that they would give any more that one to the GC, what with their commitment to Northern Australia policy development and all.
Anyway, we'll see. The Cairns property market won't be waiting, that's for sure!

Cheers

Jen
 
You wouldn't call the Reef Casino a resounding hit. It's been a dog from day one.

So having extra competition is going to attract more people. I really don't think so.:confused:

At least the dollar is going in the right direction, for both local and overseas visitors to attract more folk but still.

Cheers
 
Anyway, we'll see. The Cairns property market won't be waiting, that's for sure!

Cheers

Jen

The mining towns are down so at least Cairns is on the same page now. We have more equal footing. Still wish we can get rates and insurance down. And diversify a bit, education and tropical expertise . Attractive place to live.

edit re casino, It states that to be awarded a license they must have demonstrated experience in managing resorts or be a team bid. The Whitsunday bid for example is byoperators in Macau and I wonder why they did not join forces with Fung? Cairns has an international airport close to the proposed site? So my guess is that before the 31/3 deadline he will need to have a partner lined up though who knows anything anymore, neck deep in hype.
 
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http://www.propertyobserver.com.au/...m_source=po&utm_medium=aida&utm_campaign=news

Slow start to the year for Cairns: Local market update


By Linda Tuck
Thursday, 13 February 2014


It has been an interesting start to 2014. Traditionally we get quite a few tenants vacating in December. This happened to a fair bit and if we don't have these properties re-let by mid to late December, the chance of reletting them drops each day. Between the December 20 and the first business day back from New Year there is a very remote chance someone will be wanting to rent a property out.
Traditionally on the first business day back from New Year there is a huge demand from people looking for rental properties. We have a large number of people moving to Cairns for the start of the year - teachers, doctors, nurses, police, university students and TAFE students to name a few.
........
 
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I was reading an opinion article from her earlier in the week, where it was stated - there has been an announcement that the Aquis resort will be delayed for a year. It still hasn't been approved by the state and local governments.

The main theme of the article was positve for Cairns and that it would be approved at a later stage.

Is it factual to say with or without the project, there is a lot of upside for Cairns in 2014-15? How soon do these projects normally take for approval?

Any comments from locals, or JenJen (who seems to know FNQ well)?
 
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I am really surprised by this article, as I found it the easiest time ever to re-let my town house the week before Christmas. I have previously had vacant periods of up to 13 weeks, so I was very relieved when there was no spare time between tenants. PLus I am back on the higher rent.

My townhouse is at Yorkeys which may have something to do with it. Sales appear to be very lively in the area.

I think it depends on the area

Chris
 
Singapore firm likes look of Cairns

http://www.theaustralian.com.au/business/property/singapore-firm-likes-look-of-cairns/story-fnko7zi0-1226838487020#

Singapore firm likes look of Cairns - Ben Wilmot -The Australian -27.02.14

"...SINGAPORE'S Aspial Corporation has added to its Australian portfolio with the purchase of a Cairns site for a massive mixed-use development.

The group paid the unusual sum of $18,888,888 for the property known as Central Park Cairns...

...24,109sq m of freehold land in the heart of Cairns..."

Looks like Cairns is getting hotter, and not the temperature.
 
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