As Australia’s third-largest city, Brisbane has long been considered a prime destination for luxury property buyers – whether it’s a new high-end home to live in, or an investment you aim to rent out as an additional stream of income.
Brisbane’s luxury property market has seen significant growth over recent years, with the city’s rapid economic growth a major driving factor. Its diverse sectors, which include technology, finance and education – as well as tourism – have cemented its reputation as a safe bet for property investors. At the same time, major infrastructure projects like the Brisbane Metro, Queen’s Wharf and Cross River developments have brought it well and truly into the modern age and provided a boost in terms of both amenities and connectivity. Add to that the fact that it’s home to a raft of notable educational institutions and offers an excellent quality of life to residents of the city, and it seems that investors and luxury property seekers alike have all got their eyes on Brisbane.
Known for its subtropical climate and characterised by beautiful parklands, scenic viewpoints, bustling local markets and vibrant waterside districts, there’s a lot to love about this sun-soaked city. And with plenty of burgeoning economic opportunities still waiting to be taken advantage of, it’s easy to see why both domestic and international buyers are flocking here in their droves.
If you’re tempted to join them in buying property in Brisbane, then here we take a look at all you need to know about buying luxury property in Brisbane, including the best areas to find sought-after high-end real estate and maximise your return on investment.
The best areas to buy luxury property in Brisbane
When it comes to buying luxury property, location should be your first consideration, and thankfully, the city is home to several affluent areas that offer highly sought-after real estate and great opportunities.
Ascot
One of Brisbane’s most prestigious suburbs, Ascot is known for its grand heritage homes and tree-lined streets, making it the obvious first port of call. Here, you’ll find a host of luxurious restaurants and designer boutiques, some of Brisbane’s best schools, and the famous Eagle Farm and Doomben racecourses, and as it’s located just a few kilometres from the city’s Central Business District (CBD), it offers easy access to the heart of the action whilst offering a relaxed suburban feel.
New Farm
The modern and vibrant suburb of New Farm is where you’ll find a range of period properties and luxury apartments, surrounded by one of the city’s best known parks. As well as the New Farm Park, it’s home to the Powerhouse arts and cultural centre, and like Ascot, you’ll also find numerous high-end boutiques and fine dining eateries to choose from within easy reach. If you’re looking for somewhere with a real community feel, then this is it, and with myriad investment opportunities to take advantage of – and diverse ones at that – it’s a great place to consider buying a house or apartment to live in or rent out.
Hamilton
If you’re seeking a location with breath-taking scenery, then look no further than Hamilton, which is nestled on the banks of the Brisbane River and offers prime luxury waterfront living. From elegant hillside homes to opulent penthouse apartments, this place has got it all, and stunning vistas come as standard. Hamilton is also where you’ll find the trendy Portside Wharf – a lifestyle precinct packed with sophisticated shops and entertainment options, making it an attractive prospect for affluent young couples and families.
Kangaroo Point
Continuing on with the theme of picturesque locations, Kangaroo Point’s cliff top locale offers an array of luxury apartments and penthouses that enjoy impressive views down over the city and the river and exudes a sense of exclusivity and elegance. The Story Bridge Adventure Climb and the Kangaroo Point Cliffs are popular attractions, and the CBD is easily accessible via ferry. For sophisticated urban living, this is the place to be, and for investors who are new to the city, it’s a great place to start.
Tips for buying luxury property in Brisbane
Of course, the key to successful property investment in Brisbane will come from knowing the market, and gaining a thorough understanding of the trends and local property values will stand you in good stead to make the right moves – so be sure to do your homework thoroughly before taking the plunge. Foreign investors will also need to look carefully at the requirements for property investment in Brisbane and wider Australia to ensure you meet the relevant criteria and adhere to the regulations.
If you plan to live in the property you’ll be buying, then make sure to take your lifestyle into consideration before getting swept up in the excitement of viewing a beautiful property and rushing to put in an offer. Proximity to schools, work and leisure activities are all likely to enhance your lifestyle, so be sure to go in with a list of ‘must haves’ to ensure that your final choice ticks all the right boxes before you buy.
