Waterfront apartments sold for as low as $50,000

If you've been dreaming of buying a holiday home with waterfront views in Queensland, this could be the deal for you. 

Marketed as a once-in-a-lifetime bargain, apartments on island resort Couran Cove are being sold for prices as low as $50,000 but they do come with a catch.

The resort is closed and there is no power, water, gas or sewerage and no timeline for any of it to be switched back on.

READ MORE: Cal Wilson's cause of death revealed

A body corporate dispute led to the resort being completely cut off in June.

As a result, many residents and holidaymakers decided to sell up, leading to the record-low prices.

Critton Astras from Astras and Bond Estate Agents said buyers won't be able to find similar fully- urnished, freehold property on the water for "such a low price".

"From studios, one bedrooms, two-0bedroom lodges, three bedrooms, some great eco cabins out in the forest and you've got the villas," he said.

"Anything ranging from say $50,000 all the way through to $300,000."

While buyers are taking a risk, one resident said for him it was worth taking the chance.

READ MORE: Woman held off Hamas with a Dyson vacuum and rolling pin

"My wife and I came here a few years ago when it was sort of open, we sort of always loved the place and obviously it's a great time to buy now," unit owner Justin Daly said.

Daly is currently using generators and solar panels to keep the lights on and said he is remaining optimistic about the future. 

"People here are amazing," he said.

"They care about the place and I really think that it'll be what it was before."

Source: https://ift.tt/q0QRKGN