Noosa property market in high-stakes standoff despite record $40m mega sale

Even a $40 million mega sale has failed to quieten whispers that Noosa’s property bubble has burst.A couple paid the staggering sum for a double waterfront block across two titles at 32-34 Noosa Pde, eclipsing the state’s previous residential record of $34, paid by Gina Rinehart in 2021.Local buyers’ agent Kirstie Klein-Hunter said Noosa’s market had shiftedSelling agent Tom Offermann said the ultra-wealthy operated in a sphere outside the broader economy, where the rarity of owning a blue-chip slice of Noosa held the ultimate trump card.An aerial view of the Noosa Sound double block sold for a staggering $40mA couple paid the massive sum for the holding at 32-34 Noosa Pde — no mansion in sight!For these buyers, Noosa is a finite commodity. They are even spending up to $2m just to dig basement levels because the land above ground is too precious.“It reinforces the confidence buyers have in property of this calibre,” Mr Offermann said. “They understand the supply side will always be finite … Essentially, someone must move out for someone else to move in.”But just a rung down the property ladder from Billionaires’ Row, the broader Noosa investment market is locked in a high-stakes st...