Brisbane’s a Top Spot for Global Property Investment 13-10-10
Brisbane made the Yahoo Business international Top 10 list as one of the best cities in the world to invest in, in real estate. Despite the global housing crash that sent the world economy spiraling, house prices plummeting, and financial institutions cutting their lending 2 years ago, Brisbane has continued to grow.
Today property prices are recovering making Brisbane one of the top
10 places in the world worth investing in, whether it is in commercial or other types of property investment.
Brisbane is in good company according to Rohan Marwaha, CEO, Cityscape. Other cities making the list include Singapore, Hong Kong, Rio de Janeiro, London, Kuala Lumpur, and Istanbul with Brisbane coming in seventh. Berlin, Mumbai, and Ho Chi Minh City made up the top 10 cities attracting worldwide real estate investors.
What makes Brisbane so Good?
People are flocking to the warm, temperate climate of Brisbane making it the fastest growing city in Australia. One would argue that Brisbane is one of the most beautiful cities in Australia with its temperate winters and hot, sunny summers.
Brisbane has a relaxed lifestyle with plenty to offer the people who call Brisbane home. A Jones Lang LaSalle report recently reported that Queensland’s economy and population is likely to grow faster than Victoria or New South Wales in the coming years.
Historically, local and offshore real estate investors have given Queensland a relatively low priority in their property portfolios.
However, Queensland, and Brisbane specifically, had higher economic, employment, and population growth than the rest of Australia over the last 20 years or so. And, the experts predict that Brisbane will continue to lead the rest of Australia for at least the next 10 years.
Brisbane withstood the economic crisis better than the rest of the country because of its strong financial position, the foresight to put good infrastructure in place, the knock on effects from the state’s natural resources, and the population growth of Queensland’s migrant population.
In the 2006 financial year, Brisbane’s economy of $85 billion represented 46.4 percent of Queensland’s total economy.
From 2000 to 2006, Brisbane’s contribution was 13.5 percent to the total overall growth of Australia’s economy
Brisbane’s population now stands at 1.8 million and its employment growth is more than twice the population growth. Brisbane contributes 47 percent to Queensland’s overall employment and 44 percent of the total population growth over the last 10 years.
This is great news for investors looking for low risk, long-term opportunities to capitalize on commercial property, or any other real estate investment for that matter.
