If you are planning to invest in a property in Queensland but not quite sure yet what to do with it, your best option is to buy land for sale in Brisbane. Unlike a property with a structure on it, a vacant lot doesn’t require any maintenance or modification after purchase and yet it appreciates overtime. The fact that you’ve chosen Brisbane to be the location of your investment property makes your decision all the more worthwhile.Here are some of the reasons why you should really consider buying land for sale in Brisbane.
The City Continues to Build Up, Not Out
You’ve probably heard that in the last few years, Brisbane has been trying to grow its population in hope of increasing its economic activity. Guess what – it’s still continuing to this day and it’s projected that the population will hit the 4.6 million mark by 2031. Simply put, the city welcomes property buyers from all over the state, and that means competitive prices and easy process.
Balanced Supply and Affordability
Just last year, Brisbane was named as the most preferred capital city for investment by the 2019 PIPA Property Investor Sentiment Survey. More popular cities like Melbourne and Sydney only follow behind. The continuous influx of interstate migrants is all due to the balanced supply and affordability of land in Brisbane, which isn’t going to subside anytime soon, so you still have a chance to find a nice property in the best location. Once the demand balloons up, the prices will go up as well, and your property’s value will have increased significantly.
As the city continues to develop, rural places are increasingly becoming more accessible, opening floodgates of business and employment opportunities to both locals and migrants. In a few years’ time, the value of the land you will purchase now is expected to double or even triple depending on where it’s situated. Choose a land located in an area zoned for commercial and industrial use if you are planning on converting it into a commercial property in the future.
One of the Strongest Economies
Brisbane is considered as a global hub for mining, equipment, technology and services (METS). It is also home to large resource and energy companies. Its economy is expected to grow to $217 billion by 2031 and will not see decline in the process. One of the first things you need to think of when choosing a location for your investment property is economic security – a luxury Brisbane is apparently capable of providing in most of its jurisdiction.
If you are not confident about your decision to buy a property or you can’t seem to find the right piece of land for your investment needs, consider hiring a real estate agent from top agencies like Lion Land Marketing. Not only do they specialize in vacant land for sale, but they are also experts in all things Brisbane. They have access to the most up-to-date information about the real estate market that can help you make the most educated decision.