- Olympic excitement is spreading to Gold Coast property market
- Luxury developer David Devine is focusing on the Gold Coast
- The Queensland property market has performed strongly in recent months
The already booming Queensland property market is expected to get a boost in the lead up to the 2032 Olympic Games, with the CEO of Devine Living, developer David Devine, placing his focus on the Gold Coast’s luxury property market.
The property developer recently revealed the plans for the Royale Gold Coast, a $370 million luxury residential tower.
The development is hoped to meet demand from buyers looking for opportunities in the Sunshine State.
“If people were thinking about moving to Queensland for the great weather and lifestyle, they will be making their decisions now to bring their investment forward and benefit from the opportunities happening between now and the Olympic Games,” Mr Devine said.
“The 2032 Olympic Games will bring huge economic benefit to Queensland by opening up opportunities internationally as well as nationally as people look to invest.
David Devine, Devine Living CEO
Mr Devine believes the area offers more than just great weather and lifestyle but also 11 years of economic growth supported by Olympic related infrastructure spending.
The Gold Coast has seen a multitude of luxury residential development announcements. For Mr Devine, the healthy prestige property market in the region was a large motivating factor in his focus on upmarket Gold Coast developments.
He anticipates the Gold Coast will reach “premium lifestyle destination” status.
TOTAL Property Group is managing the sales of the private residences in the Royale Gold Coast tower.
The luxury apartment marketing agency reported a spike in interest among prestige property buyers following the announcement of the 2032 Olympic Games location.
TOTAL Property Group Managing Director Adrian Parsons said the announcement of the Olympics in Queensland “…guarantees us a decade or more of economic growth and stimulation.”
“An independent economic assessment by KPMG, commissioned by the Queensland government, has indicated the Olympics will deliver a total benefit of $8.1 billion for Queensland, and $17.61 billion for Australia,” Mr Parsons said.
“Furthermore, the State Government’s 2032 Olympic and Paralympic Taskforce found it could create around 130,000 direct jobs, including 10,000 in the year of the Olympics.”
“Just as Greater Sydney’s property values increased due to the 2000 Olympic Games, we know South East Queensland will experience the same upward growth heading towards 2032 and beyond.”