The development has made a red-hot debut, selling more than 65 per cent of its stock.

THE absolute beachfront development Cabana Palm Beach has totted up $52 million in sales in less than two weeks.

Since its launch on December 26, 23 of the project’s 34 apartments, starting at $1.99m, sold to local, Brisbane and interstate buyers.

Andrew Erwin of NPA Projects, who is marketing Cabana, says it is one of the most successful project debuts the Gold Coast has seen in recent years.

“The buyer interest is phenomenal but not unexpected. We had 60 groups through our on site display on Boxing Day, when the project was officially launched, and we have been busy ever since,” Mr Erwin said.

“Our buyers know quality when they see it. Too many projects are branded as luxury but fail to live up to the label.”

The building it situated metres from the sand dunes, with its three-bedroom residences all featuring an open plan living area and balcony taking in the coastal views.

“There’s also the lifestyle drawcard, with Cabana featuring a Caribbean resort-style residents’ club, with a pool with sunken loungers, cotton draped cabanas, entertaining areas, a surfboard rack and beach showers,” Mr Erwin said.

“Being opposite the Palm Beach artificial reef has made it popular with surfers, but it has equally appealed to those looking for a holiday lifestyle.”

Developed by Ignite Projects, which is also behind The Monaco Main Beach – the first building in the southern hemisphere to have a car lift with direct entry to a private sky garage – managing director Josh Foote said he anticipated Cabana would sell out in the coming weeks.