Buyers in a massive beachfront apartment tower have been told they will need to pay nearly 40 per cent above their original purchase price, leaving some scrambling to find an extra $2m just to move in.
Kathleen Skene follow 2 min read May 12, 2025 - 12:55PM
The Australian Business Network
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Buyers in a massive beachfront apartment tower have been told they will need to pay almost 40 per cent more than they signed on for – with some forced to cough up an extra $2m just to move in.
Off-plan buyers in the troubled Midwater tower on the Gold Coast were told they have until this Friday to agree to a 37.5 per cent hike, with the developer claiming the project is “not commercially viable or practical” without it.
Developer Heran Group said it would invoke sunset clauses and terminate contracts for those who did not agree.
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