Press Release- For immediate release
Australia’s recent interest cut by the Bank of Australia (RBA) has injected optimism into the property market. The weak AUD has further won the attention of overseas investors. Brisbane, with a strong city competitiveness compared to Sydney and Melbourne, is seeing an uptick in its market. The QBE Australian Housing Outlook reports that Brisbane’s property prices will rise 20% by 2022.
Strategically located in one of Brisbane’s most connected locations and as one of the most coveted addresses in the area, The Mews sits in the lifestyle aura of the award-winning South City Square masterplan development. South City Square is recognized as a self-sustaining lifestyle destination in close proximity to The University of Queensland and Queensland University of Technology. The Mews now starts from HKD 2.1M.
Strongest performing property market among sister cities
Brisbane has experienced a strong economic performance in recent years. According to the Economic Performance report by Australia’s SGS Economics and Planning firm, Brisbane’s 2017 to 2018 GDP peaked at 3.4%, the highest since 2011. The report asserts that Brisbane is the 3rd fastest growing city in Australia, outpacing both Sydney and Melbourne. Adrian Schrinner, lord mayor of Brisbane, announced that the city council hosted 91 partnered commercial events in the year up till July, bringing a gross revenue of AUD 112.2 million to the economy, a 20% increase from the previous year.
The Brisbane property market shows positive optimism. A record low interest rate anticipates a soaring market growth. According to Westpac Bank, Brisbane’s property prices will increase 8% in 2020. The QBE Australian Housing Outlook 2019-2022 further reveals that Brisbane’s prices will increase 20% by 2022. Adelaide follows second at 12.7%, while experts expect Sydney and Melbourne to remain below a 6% increment.
Key driving forces behind Brisbane’s property market
Population growth is one of the key driving factors towards Brisbane’s property market. A low cost of living and high affordability has attracted a young demography to Brisbane from Sydney and Melbourne. In the past 40 years, more than 500 thousand headcounts have chosen to move north from Sydney – more than half now resides in Brisbane. The Australian Bureau of Statistics predicts Brisbane’s population will reach 3 million by 2027 from the current 2.3 million. The city will be home to more than half of the entire Queensland population.
Infrastructure developments continue to contribute to the rising property market. Brisbane’s airport expansion, the Queens Wharf Casino, Brisbane Live entertainment precinct and the Cross River underground railway will inject optimism into the property market. “Mortgage interest rate has been the lowest since 1950 and the government’s First Home Mortgage Guarantee Scheme will attract young buyers and stimulate the value of the market,” says Terence Chan, managing director of Golden Emperor Properties.
Investments in South City Square starting from HKD 2.1M
The 2019 Knight Frank Wealth Report suggests that Australia’s wealthy population will substantially increase in the next 5 years, and by 2023, the number of high net-worth individuals (HNWI) will increase by 22%. “This underlines the vast potential of the property market, especially in the luxury segment,” Chan adds.
The Mews is nestled inside the suburbia Woolloongabba masterplan development of South City Square. Crafted by
Australia’s two largest developers, Pellicano and Perri Projects, the award-winning development is home to parks, entertainment, supermarkets, theatres, commercial space, and Hyatt Place Hotel. The development is surrounded by a number of shopping malls, and Australia’s most prestigious educational institutions, including the Queensland University of Technology and The University of Queensland, a 6 to 15-minute drive away.
The Mews is the third residential phase of South City Square and features a collection of one- and two-bedroom smartly furnished apartments, ranging from 602 to 850 square feet. The Mews also hosts a sky pool on its top floor. Starting price begins at 2.1M HKD with an expected gross rental yield at 5% per annum.
About Pellicano and Perri Projects
Established in 1967, Pellicano is a multi-award-winning integrated real estate developer. The company owns and manages over 170 real estate projects, comprising assets in the residential, commercial, retail/large format retail, industrial and hospitality sectors. www.pellicano.com.au/
Headquartered in Melbourne, Perri Projects is a diversified private investment and real estate development group that deliver much more than just outstanding places, communities and award-winning projects. www.perriprojects.com/
About Golden Emperor Properties (Hong Kong) Limited
Golden Emperor Properties (HK) Limited is a Hong Kong-based company that offers international properties to clients in Hong Kong and globally. The company works with property developers from Thailand, Vietnam, Japan, Malaysia, the United Kingdom, USA, Australia, Europe and many others. The company has a team of dedicated sales agents that can provide consultancy and information on relevant transaction-related topics such as taxation, sales & purchase procedures, payment schedules, and many others. www.goldenemperor.com
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Golden Emperor Properties
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