Brisbane Airport set to become Australia’s second international hub: what does this mean for property investors?
Brisbane Airport is set to overtake Melbourne Airport as Australia’s second most important international hub, positioning the city as a major global gateway for tourists, investors and therefore ongoing cash injections. With 28 overseas destinations currently on the Brisbane flight map, it’s just one flight path shy of Melbourne’s offering of 29 destinations. However when Shanghai services are added to the airport routes in November, Brisbane will become the nation’s second preferred international entry point.
Read the full article at Courier Mail.
What does this mean for property investors?
With Chinese property investment booming in Australia and New Zealand, Brisbane Airport saw a 27 percent increase of passengers last year, which equates to an additional 151,000 people. Demographer Bernard Salt believes “Brisbane is ideally placed to target a whole group of second-tier Chinese cities with populations of between five and 10 million with booming middle-classes.” Salt believes the city’s connectivity and proximity to the chinese market act as powerful tools for economic growth for both tourism and investment.
With passenger numbers expected to rise to more than 26 million by 2021, Brisbane Airport will be the beneficiary of a $3 million state investment in marketing, tourism and events campaigns. A new $1.35 billion runway will double the airport’s capacity from January 2020. This is music to an investor’s ears – ongoing support, government investment and high demand for the region makes Brisbane a smart choice for savvy investors.
As new major infrastructure is continually introduced to Brisbane, accommodating this influx of tourists and passengers will be vital for the city’s growth. As a property investor, Brisbane is an ideal investment location given the high performing economy and the high level of employment opportunities to accommodate passengers and tourists, and to service this new infrastructure. These major changes indicate increased demand for the city and it’s offerings – something we’ve anticipated for a long time.
As the fastest growing city in the country, Brisbane is now a force to be reckoned with. As an investor, it’s a smart choice to purchase Brisbane property.
If you’d like to discuss your investment options in Brisbane, contact CPS Property today.
