The Queensland 2032 Olympic and Paralympic Games Delivery Plan is set to reshape the state’s real estate market, with over $7 billion in infrastructure investment.
This large-scale development presents both opportunities and challenges, particularly for the Redlands and Brisbane region, which stands to benefit from increased property demand and long-term economic growth.
One of the key developments in Redlands is the Birkdale Community Precinct, home to the Redland Whitewater Centre, an official Olympic competition venue.
This project is expected to attract visitors, boost local tourism, and increase property values in surrounding areas, making suburbs like Birkdale more appealing to homebuyers and investors. Redlands and other Bayside areas are likely to see rising property values, particularly in locations well-connected to Brisbane and other Olympic sites.
To accommodate athletes and officials, the Queensland Government plans to establish three Olympic villages in Brisbane, Gold Coast, and Sunshine Coast.
The Brisbane Athlete Village alone will house more than 10,000 athletes and officials during the Olympics and over 5000 during the Paralympics. After the Games, the village is set to be converted into permanent housing, helping to address Queensland’s growing housing demand.
Despite the potential for growth, concerns remain about housing affordability. Increased demand for both long-term housing and short-term rentals during and after the Games could push up rents, making it harder for local renters and first-home buyers.
Recent reports suggest Brisbane could soon overtake Sydney in property values.
Real Estate Institute of Queensland CEO Antonia Mercorella noted, “Not that long ago, it seemed unfathomable to many that Brisbane would overtake Melbourne in property prices, yet this has now occurred – we have become the second-most expensive city in Australia. So, the possibility of Brisbane property prices “pulling a Bradbury” over
Sydney as well, remains to be seen.”
The Games present opportunities and challenges for real estate. With careful planning and a focus on affordability, the region can capitalise on growth while ensuring it remains a desirable place to live and invest.
However, it is equally important to continue to advocate for the infrastructure needed to support this growth, ensuring that communities benefit from opportunities the Games bring.
