Fueled by the global unrest caused by COVID-19, Queensland is continuing to draw the attention of international buyers, with developers seeing a spike in inquiries for new property from foreign investors.
Evidence from REA Group shows Hong Kong leading the charge of these residential property enquiries and purchases.
With both Brisbane and the Gold Coast remaining high on the radar of foreign investor —international searches lifting 22 per cent year-on-year.
According to REA Group Chief Economist Nerida Conisbee, the low Australian dollar coupled with record low-interest rates has caused a lot of expats to reconsider their living circumstances, and anecdotal evidence suggests that Australia (and namely Brisbane and the Gold Coast) is an attractive value proposition. Conisbee said the majority of people searching for property in Queensland were based in New Zealand, the UK, the US and Hong Kong.
It’s also no surprise that overseas buyers attracted to the Australian themes of surf, sand and sun that locations such as Surfers Paradise on the Gold Coast, and Noosa on the Sunshine Coast were the most in-demand. “Brisbane doesn’t see a lot of overseas searches—when people think of Queensland, they think of the beaches,” Conisbee said.
Gold Coast projects including Sunland Group’s soon-to-be-completed Magnoli Apartments and Spyre Group’s Natura project in Burleigh Heads have also featured in searches.
But for those wanting a more urban life, high-rise developments in the inner-city suburb of South Brisbane were also frequently searched, with Pradella Group’s under-construction Halo Residences project and R&F Property Australia’s $500 million Brisbane 1 apartment tower scoring close attention.
Here are the most-searched development projects by foreign investors across Brisbane and the Gold Coast:
Via The Urban Developer
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