Add CategoryA Queensland suburb has been crowned the best beach in the world, but home values are a fraction of those in southern capitals and coastal hotspots, with one listed for just $650,000.
Every year Condé Nast Traveler ranks beaches from around the world to curate a list of 34 locations.
Palm Cove in Far North Queensland took out the top spot globally, described as “the epitome of a tropical paradise” by the publication.
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Just north of Cairns, author Lizzie Pook praised the leaning palms on powdery sands, the lack of crowds and the wildlife.
Palm Cove beat Honopu Beach, Kauai, Hawaii (2nd), Brekon, Shetland (3rd), Wategos Beach, NSW (4th) and Ora Beach, Indonesia (5th) to take the top spot.
Other Aussie beaches that also made the coveted list were Mona Vale Beach (6th), Noosa Beach (8th), Turquoise Bay (22nd) and Gantheaume Point (25) in Western Australia.
But it might surprise beach fans just how much it might cost to buy a piece of prime real estate in Palm Cove.
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Aerial phot of the famous sandy beach at Palm Cove and Double Island
The latest REA Market Trends report shows the median house price in the tourist gem is $1.11 million, while for units it is just $451,250.
The median rental yields for houses is 3.65 per cent, while for units it is 5.42 per cent.
The median home price (houses and units combined) in Brisbane and Melbourne is now $797,00 – on par for the first time in 14 years.
The median dwelling value in Sydney is currently $1.053 million.
But real estate listings show that Palm Cove prices are still within reach of many buyers.
The lowest priced property currently on the market in Palm Cove is a one bedroom apartment in the Drift resort complex, which is listed for $235,000.
The most expensive property currently listed is a Balinese seaside villa for offers over $2.95 million.
Take a look at just some of the properties on offer at the world’s best beach.
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OFFERS OVER $1.1M
In an elevated position with panoramic views, this stunning master-built residence has two bedooms and three bathrooms and sits on a 393sq m block.
But it has a surprise addition that is guaranteed to entice car enthusiasts – a fully airconditioned six car garage with spectacular finishes, an electric vehicle lift for two cars, a workshop with enclosed storage space, bathroom and bar.
There is also a private pool surrounded by lush tropical self care landscaping.
FOR SALE
Offering what could be one of Palm Cove’s best views stretching out to the Coral Sea, this extensive property features timber floors, banks of louvres, and a central fireplace.
On 1.59ha, there is also a full-length balcony, pool with ocean and rainforest views, a self-contained studio flat,, modern kitchen, and a master wing with a bedroom, dressing room, study and bathroom.
$650,000
The cheapest house currently on the market in Palm Cove, this three bedroom, two bathroom house sits on a 450sq m block.
There is a spacious living room, with high pitched cathedral ceilings and glass features, a modern kitchen and dining area, a covered patio opening from the living area, a main bedroom with a walk-in robe and ensuite and a double garage with workshop space.
1 Hideaway Close, Palm Cove
OFFERS OVER $1.395 MILLION
Described as “your personal rainforest escape”, this three bedroom residence on a 642sq m block is located in a quiet cul-de-sac in the Argentea Estate.
There is an open living/dining area, a kitchen with a walk-in butlers pantry and a living area that completely opens out to a wrap-round patio overlooking the private in-ground pool with its water feature, tropical gardens and bushland setting.
The master bedroom is a pavilion-style with an ensuite.
There is also a large garage and airconditioning.
OFFERS OVER $2.95 MILLION
This Balinese seaside villa on a 1225sq m block is near new and can be sold as a complete retreat, including all the bespoke, custom and individually sourced furniture from around the world.
Located in the highly sought after Argentea Estate, it is just a short stroll to Palm Cove’s stunning beaches, shopping amenities, cafes and fine dining restaurants.
Architecturally designed by bàlay Vandyke and built by award-winning builder Ash Mosley, it epitomises indoor/outdoor living with floor to ceiling feature glass windows looking out to the retreat style pool, outdoor kitchen, entertaining area, gardens and nature reserve.
The spacious open living, dining and kitchen area feature’s polished concrete floors which flow through the entire home, 5m raked ceilings, fully ducted airconditioning and a stunning whiskey bar.
$235,000
This studio apartment on the southern end of the Palm Cove Esplanade is located in the Drift complex, putting the beach and cafe culture right on your doorstep.
The apartment has a private balcony and is currently returning strong numbers via onsite letting.
The balcony overlooks lush tropical gardens and the lagoon pool.
There is a well-appointed kitchenette and it is beoing sold with all furnishings.
Other facilities include a spa, gym and lifts.
OFFERS OVER $375,000
This 82sq m apartment offers two bedrooms and two bathrooms.
Also located in the Drift complex, it is just 50m from the beach.
It offers an open plan living, dining and kitchenette area, and there are two balconies.
The apartment also has an undercover parking space.
The unit is currently holiday let through the onsite resort managers, but can be permanently lived in, or, you could manage your own holiday let unit.
Other facilities include, a huge swimming pool, jacuzzi, gymnasium, onsite hairdressers, boutique shops, communal BBQ and a spacious open resort lounge reception area.
2403 2-22 Veivers Road, Palm Cove.j