According to the latest Knight Frank Wealth Report, Brisbane’s luxury property market is shining bright. The city came in at 14th in the Q1 2019 Global Cities Index with 3.2% growth from last year, outperforming Sydney at 18th and Melbourne at 22nd on the index of 45 cities worldwide. Demand is expected to skyrocket with 20% capital growth for houses and 14% for units predicted in the next three years by BIS Oxford Economics. It’s little surprise, as Brisbane is a highly liveable and walkable city with free ferry options, a thriving cultural scene and a stunning subtropical climate. So what should you be looking for when investing in high-end properties in Brisbane?
First, consider that there is a $3.6 billion development currently underway to transform Brisbane’s already thriving CBD and river’s edge by late-2022, providing a new entertainment and lifestyle precinct that will rival Europe’s capital cities. Residents and visitors alike will want to be as close as possible to the city centre and its arts, music and entertainment scene. This new development is also predicted to create thousands of jobs in construction and operations, including 8,000 roles once fully operational.
The next step is to consider the new residents who are flocking to the Queensland capital: expats returning home from overseas, downsizers looking for lifestyle opportunities and professionals seeking a better work-life balance. All three of these groups will be looking for central residences close to the city, as well as quality work, school and university options. Of course, waterfront locations offer the chance to attract premium rental returns and ensure a healthy demand over time for an investment property.
There will soon be an opportunity to purchase apartments in Crown Group’s first Brisbane development, which will provide studio, one, two and three-bedroom apartments as well as terraces and four-bedroom penthouses right on the West End riverfront. The project, designed by architectural firm Francis-Jones Morehen Thorp (fjmt), will be an organically inspired design comprising four 12-storey structures with landscaped walkways that connect directly with the waterfront and 4,200m2 of communal open space. As with existing Crown apartments in Australia, the development will offer our signature resort-style facilities and luxury amenities including a 25 metre pool, barbecue facilities, gym and rooftop spa.
Crown Group’s West End project will launch in 2020, so stay tuned for updates and releases on these luxury apartments close to Brisbane’s thriving new heart.