Singapore real estate firms IP Global and SLP International are predicting that the Brisbane residential property market will boom in next few years.
The inner-city Brisbane market is showing signs of a steady recovery as local buyers are returning to the apartment market.
Executive Director of IP Global, Amous Lee, said that Brisbane continues to be attractive to local buyers and investors since median prices remain affordable, unlike some other Australian cities.
He said: “Sydney and Melbourne have experienced record-level growth rates in the last two years, but Brisbane is only just catching up. Not forgetting that Brisbane median apartment prices were once higher than Sydney and Melbourne back in 2008.”
He added: “We foresee Brisbane housing prices to go up in next few years, as the state recovers from the global financial crisis and the floods that happened in 2011.
“In addition to the lower entry prices, the low Australian dollar and interest rates are also reasons why local and overseas buyers are rushing in to the market now.”
He added that Brisbane offers particularly good value
In response to the favourable market conditions in Brisbane, IP Global will be launching 149 units at Aqua tower 1 of Newstead Central, developed by Metro Property Development in Brisbane’s inner city in Singapore this weekend. SLP International will be its exclusive real estate agent partner at the exhibition.
Luxury one-bed apartments will be priced from AUD$399,000.
IP Global will also be sharing its insights as to why they expect Brisbane to boom at the Singapore property exhibition which will take place at the Four Seasons Hotel, Windows East Room from 11am until 7pm on Saturday, November 8, and Sunday, November 9.
Amous Lee will be conducting seminars at 2.30pm on both days.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.
