Construction is under way for the three new building companies who aim to have show homes completed at Coast Papamoa Beach in the coming months.
Meanwhile, established builder Coast Homes has just completed a 170sqm new show home designed by Bay of Plenty-based architect David Page.
According to Guy Pahor, CEO of developer Frasers Property, buyer enquiries in the development had soared with interest being fielded from buyers across the Bay of Plenty and wider North Island.
The development had captured the imagination of people wanting to relocate from Auckland, he said, with additional momentum coming from the Reserve Bank's decision to make new home builds exempt from Loan to Value (LVR) ratio requirements.
Coast Homes is now one of four building companies on site after Frasers Property invited Signature Homes, Classic Builders and Signature Homes to partner with them on the 24 ha beachfront estate.