The recent annual report of the Residential Tenancies Authority indicates that the vacancy rate on the Gold Coast is 5.5 per cent - much higher than other states. However, even more significant is the fact that many investors have been forced to reduce the rents drastically which results in many finding it hard to cover their repayments.
The holiday rental situation is dire with investors who are forced to holiday let their units through Caretakers having to accept reduce rents as competition increases.
Unfortunately, there is no sign of any change in the situation. In fact many experts predict that things will get even worse. Many investors would live to offload their properties but cannot afford to take a huge loss.
There is no doubt that many people regret make an investment on the Gold Coast.