OTTO Mermaid Beach“Those purchasers who having gained equity over the years in their established properties further inland, would prefer a lifestyle closer to the beach with excellent walkability,” he said. OTTO Mermaid BeachMorris Property Group principal Barry Morris said many buyers were drawn to the project due its boutique size, resort standard facilities and proximity to the beach. Render of OTTO Mermaid BeachGOLD COASTERS have rallied behind the new OTTO Mermaid Beach development with 20 apartments sold since its launch in February.OTTO Mermaid Beach is a $44 million eight-storey project comprising 70 two and three-bedroom apartments. OTTO Mermaid BeachThe development is 300m from the beach and offers high-end features and luxury finishes. Resident facilities include a pool, gym and alfresco barbecue area and terrace.CBRE Residential Projects on the Coast director Nick Clydsdale said many buyers were looking for a beachside lifestyle with a mother and daughter among the latest to purchase apartments in OTTO. OTTO Mermaid BeachHe also tipped more first home buyers to purchase an apartment at Otto and take advantage of the State Government’s boosted Homeowners Grant before it expires on June 30. Prices start from $499,900 to $769,900 with some apartments offering two car parks. Body corporate rates are about $72 to $98 per week.Construction on OTTO Mermaid Beach is expected to start later this year. OTTO Mermaid BeachMore from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North8 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoMr Clydsdale said the pair were typical of the buyer profile purchasing in OTTO.“(It’s) those looking to move closer to the beach without breaking the bank or compromising on quality, space and amenity,” he said.Mr Clydsdale predicted OTTO Mermaid Beach to become increasingly popular with existing Gold Coast residents. He said it was the rise of the “coastal upgraders” which was a modern twist on the seachange term.