The city of Gold Coast is already receiving economic perks of the 2018 Gold Coast Commonwealth Games, especially when it comes to real estate.
A recent report from PRD Nationwide has seen the Gold Coast property market follow the trends set in real estate in Sydney with the 2000 Olympic Games and Melbourne for the 2006 Commonwealth Games: “Whilst major developments projects relating to the Commonwealth Games and infrastructure improvements are taking place across the Gold Coast, the property market has shown positive performance. An increase of 13.2% in house transactions and 14.5% in unit sales over the past 12 months suggests demand is heating up – thus now is the perfect time to enter the market.”
The Commonwealth Games is expected to inject approximately $2 billion into the Gold Coast economy alone with an estimated $320 of that money put into development and construction projects. Domestic and foreign property investors will make up a large portion of the property boom when it comes to snapping up Gold Coast real estate with house prices already increasing since the announcement of that the Gold Coast had won the bid to host the 2018 Commonwealth Games in 2011.