New apartment developments QLD are mushrooming rapidly this year as homebuyers and investors race to secure their share of the market. Leading Southeast Queensland property sales and marketing company TOTAL Property Group reported that more buyers are opting for apartments over houses due to rising home ownership costs.
As the Property Council of Australia states, delays for developers due to high construction costs are compounding this difficulty and could reach zero projects by 2025 unless changes occur.
Developers are currently facing mounting competition from off the plan sales in other states with lower stamp duty rates, placing added pressure on them to make their apartments affordable for renters. In response, The Property Council has called upon state governments to remove prohibitive foreign investor taxes and expand land tax concessions for build-to-rent apartments.
As there are so many new apartment developments QLD underway, we’ve curated some of our favourites to give you an idea of the range on offer.
The Boatyard in Bulimba is one of the smaller riverfront projects on this list and comprises 27 apartments across two buildings situated along the Brisbane River. The first building contains larger apartments with three, four, and five bedroom options while its smaller neighbor features more affordable units that still boast panoramic views over Hamilton and Portside.
Mosaic Property’s latest luxury off the plan project is located nearby Toowong Memorial Park and boasts proximity to some of Brisbane’s busiest roads for fast travel times. Offering 2 and 3-bedroom apartments featuring private balconies and high-quality finishes.
Gaia was designed by DKO architects to be an eco-friendly residential community featuring premium two and three bedroom apartments. Reimagined as a riverside sanctuary with extensive planting for improved quality of life and naturally purifying air, Gaia achieved 6-star Green Star Communities rating to set new benchmark for sustainable living.
Banc, Toowong
At the top of our list is the ultra-luxury development from HG Developments – situated on one of Brisbane’s busiest streets (Coronation Drive) so it would seem noisy and hectic; yet its grand lobby opens directly onto Coronation Drive so it is peaceful inside. Offering two and three bedroom apartments featuring multiple living spaces, dedicated study zones, large balconies, high tech smart features allowing control of lighting, entertainment and other aspects through voice or touch controls makes this development ideal.
Ridgeview, nestled within Caboolture and just 33km from Brisbane CBD, offers an oasis of peace. Close to train stations, schools, childcare centres, universities and shopping areas; Ridgeview makes an ideal location for commuters who also appreciate coming home to a relaxing suburb after work. Featuring beautiful landscaping as well as one and two bedroom apartments; Ridgeview should not be missed!