Brisbane has emerged as a destination in its own right in recent years with new retail, restaurants and events coming to the city.
CBD living in Brisbane has largely been overlooked in previous years, but all that has changed over the last 12 months thanks to an increase in CBD development. In the past buyers have been more interested in apartments located on the city’s fringe in Kangaroo Point and Newstead, but my agency has seen a change.
We have seen an increase in enquiries on CBD apartments over the last 12 months compared to previous years and many of our agents are attributing this change to the city emerging as a desirable place to live.
We have found that a lot of buyers and interested parties are couples who are looking to downsize from their homes in Brisbane’s suburbs and are after the convenience of apartment living in serviced buildings in the heart of the CBD.
We have also had a lot of interest from interstate and international buyers who are looking to snap up investment properties in Brisbane’s CBD due to the city’s affordability compared to Sydney or Melbourne.
Brisbane has emerged as a destination in its own right in recent years with new retail, restaurants and events coming to the city. Major retailers, restaurants and hotel groups have all set their sights on Brisbane and the apartment market has responded positively. Fast fashion retailers Forever 21, H&M and Zara, restauranteur and celebrity chef Jamie Oliver and luxury brands Cartier and Burberry have all opened in Brisbane’s CBD in the past 18 months. Japanese powerhouse UNIQLO is set to open its store before Christmas, major hotel group Starwood has announced Brisbane will be the home if it’s newest W Hotel in 2018 and Echo Entertainment’s $2 billion Brisbane casino, hotel and retail development have all added to the CBD’s appeal.
Brisbane is no longer the lesser known city on Australia’s east coast, it’s now the place to be and buyers and investors are quickly caching on.