2 New units on the block...

How will the Olympics impact my property value?

Author

Garry Bradburn
August 27, 2024

   This week we have two new apartments that have just come on the market…

Two Athena Quays Waterfront Skyhome properties are newly available to you, with a completion date of October 2024 (only 2 months away).

  1. Level 4, 3 Bedroom + Study, 2 Bathrooms + 1 Powder Room,

    2 Carparks, Corner apartment with sensational river views and large alfresco area for

    indoor/outdoor living. Priced point $1,595,000.

  1. Level 6, 3 Bedroom + Study, 2 Bathrooms + 1 Powder Room,

    2 Carparks.

    Price point $1,600,000.

HOW WILL THE OLYMPICS IMPACT MY PROPERTY VALUE?

I am a massive sports fan, so my own personal excitement at the upcoming Brisbane Olympics cannot be understated. It is second only to my excitement at the expected property price boom we are predicting in the lead up to the 2032 event. While 2032 seems like a long way into the distance, that makes this the perfect opportunity to buy early before the boom.

The Journal of Economic Perspectives states South East Queensland can expect a huge increase in trade, infrastructure, foreign investment and tourism. Prior to the 1992 Olympics in Barcelona, the city experienced a 130% boom in property prices. When Sydney hosted the Olympics in 2000, property prices increased by 88%. The price increases are relative to the amount of investment the local government allocates to improving the area in the lead up to the event. The State Government and Paralympic Taskforce expects to create 130,000 jobs in the lead up to the Olympics allowing for the perfect storm for property growth.

Will the Brisbane based Olympics really spread the love to the Gold Coast you are asking? Absolutely. The 2032 Olympics will be held in Brisbane, as well as some events held in the Gold Coast and Sunshine Coast. Sporting venues and the athletes village will be spread throughout south east Queensland.

We will be waiting with anticipation and baited breath to see what happens!