2015 is set to be the year for a rise in the number of people purchasing a Brisbane apartment. Real estate experts foresee that city apartments, especially those in the Queensland capital, are set to be in demand among Australian buyers this year.Outpacing Melbourne and Sydney
Pointcorp, a leading property development company, mentions the latest research conducted by Corelogic RP, which reveals a wide gap in terms of median property values between Brisbane and its competitive neighbours, Sydney and Melbourne. The average apartment prices in Brisbane are significantly lower than Sydney and Melbourne—positive news for both owner-occupiers and investors alike. According to market analysts from BIS Shrapnel, the high prices in Sydney and potential oversupply in Melbourne will surely compel buyers toward the Brisbane market.
Some critics say that the economy, unemployment levels and federal government budget issues will affect Brisbane the real estate market. Despite these criticisms, real estate experts think that there will still be a natural attraction to Brisbane apartments because of the low interest rates. In addition, government talks about promoting the economy will most likely render more positive and attractive interest rates in the years to come.Rising Property Developments
Because Brisbane is one of the key cities offering quick access to public transport, commercial establishments and retail amenities, there is higher demand for rental properties in the location. Residential apartments will be more in demand in locations near the central business district.
BIS Shrapnel says that there are approximately 4,000 apartments located in inner Brisbane that are under construction and set to be completed in 2015 and 2016. The experts expect an increase in properties from 2,000 apartments in 2013-2014 to figures exceeding 3,000 in 2015-2016.Growing Pool of Brisbane Apartments Investors
Statistics show that property investors are not limited to Australians; there is a significant rise in the number of foreign investors as well. Chinese investors are becoming key players in the Australian real estate market, with Singaporeans also setting their eyes on the market.
With high rental demand, a rapidly developing city, and improving interest rates, Brisbane apartments are the next big investment this 2015. An advice for investors: keep an eye on the booming capital of Queensland.