LLC operator GemLife achieves higher prices than local median, attracts under-65s

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Three-bedroom homes at GemLife Gold Coast are selling for $640,000, compared to realestate.com.au’s median price for a three-bedroom house in Pimpama at $530,000.

More than $60 million of homes have sold off-the-plan in the $200 million GemLife Gold Coast, including all 26 traditional homes released in Stage One and more than 70% of the 88 homes released in Stage Two.

More than 50% of buyers are aged under 65, with developer Adrian Puljich saying the age of residents across its portfolio of communities along the eastern seaboard is continuing to fall.

This compares starkly to the average age of people moving into retirement villages being 75, according to the 2021 PwC Property Council Retirement Census.

“The bowling green and dance hall of the past doesn’t cut it anymore,” said Adrian (pictured at the Leaders Summit), CEO and director of GemLife.

“While we still have those, at GemLife Gold Coast we also have three pools – including a resort-style rooftop infinity pool with cabanas, sunken lounges and a bar – a three-level Country Club, a yoga studio, a full fitness centre and a golf simulator, among others.

“Our residents are healthier and more active than ever before, with the age of homeowners steadily reducing since we launched our first community at Bribie Island in late 2016, and particularly over the past two years.

“More people in their 50s and 60s are moving to these communities to achieve the lifestyle they want – one filled with opportunities for interaction, relaxation and exercise, that’s low maintenance and allows them to travel.

“They’re deciding not to wait until they’re older; they want to enjoy this lifestyle for as many years as possible,” he said.

GemLife is currently talking to potential investors with valuations up to $2B for the group, in line with its ambition to be the sector’s largest operator within the year.

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