Gold Coast set to become investment hotspot
More than $4.5 billion worth of infrastructure projects earmarked for the Gold Coast may attract the interest of property investors, with the region's growth likely to drive up demand in the local real estate market.
Construction is already underway around the Gold Coast to transform the region into a world-class sporting destination for the upcoming 2018 Commonwealth Games, with several more projects waiting for the green-light.
One such development is the $38 million redevelopment of the Gold Coast Aquatic Centre, which is undergoing a registration of interest process.
State minister for tourism, major events, small business and the Commonwealth Games Jann Stuckey said the multimillion-dollar project was moving ahead, with public consultation to take place in coming months.
Other projects planned for the region include the $700 million athletes' village, the $8 million upgrade of the Labrador Sports Club, and the $150 million Griffith University Health Centre development.
As the Gold Coast grows, both commercially and privately, investors are likely to be interested in breaking into the area's residential property market, with house prices likely to soar as the area becomes a popular destination.
Major redevelopments underway in the area may also attract commercial property investment, with more business opportunities on offer in the Commonwealth Games host city.