The Queens Wharf Development Project and It’s Impact on Brisbane Property

On November 16 2015, the Queensland Government reached an agreement with Destination Brisbane Consortium to construct a $3.6 billion integrated resort development project called Queen’s Wharf Brisbane. This integrated resort will consist of 2,000 residential apartments, 50 bars, cafes, retail, public space, restaurants, river waterfront activities, and four world-class hotels. This world-class project will put Brisbane on the map as a global tourism, entertainment and vacation destination.

Here are the top 5 ways in which this outstanding project will positively impact the Brisbane property market. 

1. Increased Brisbane property demand 

People migrate from one place to another in search of a better quality of life. The construction of an integrated resort will provide immense opportunities for leisure and entertainment. This will attract more and more people to Brisbane. The migration of people to Brisbane will increase the demand for property in Brisbane, consequently boosting the Brisbane property market. 

2. An increase in property prices

The price of the property depends on the supply and demand curves. The greater the demand and limited supply of property available, the greater the price. With the construction of Queen’s Wharf Brisbane, more and more people will visit Brisbane searching for entertainment and leisure. This developmental project will transform Brisbane into a tourist hub. People will visit Brisbane for their vacation, honeymoon, and holidays that will create a surge in demand for hotels, restaurants, rental homes, and vacation houses. This increase in demand will increase the price of a property in Brisbane. Hence, this is the right time to invest in Brisbane property. 

3. More job opportunities, more people, hence a surge in accommodation demand

The Queensland government says that the project will produce more than 2,000 jobs during the construction and more than 8,000 jobs when the integrated resort becomes fully operational. This surge in job opportunities will attract people to Brisbane and in turn will increase the demand for accommodation in Brisbane, ultimately growing the Brisbane property market.

4. It adds value to Brisbane property

The construction of an integrated resort will add significant value to the Brisbane property market through the construction of cafes, clubs, hotels, restaurants, recreation spots, retail, shops, and other entertainment facilities. This will make investing in Brisbane more attractive for local people, ex-pats, and foreigners. This will transform Brisbane into one of the most desirable cities in Australia. 

5. A boom in vacation homes

Renting homes for a short period of time has become very common these days. Tourists prefer to rent a house for a month or two to spend their holidays. This has given a boom in vacation homes. People are converting the unused rooms of their houses into rental rooms to earn some extra income. The construction of an integrated resort in Brisbane will attract more tourists and ex-pats to the city, increasing the demand for rental homes. 

The construction of Queen’s Wharf Brisbane will boost the Brisbane property market in the future. This is the right time to invest in Brisbane property. Hence, if you want to capitalize on this opportunity and want to invest in the property market and are looking for expert advice, Brisbane Invest is the best option.

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