Brisbane Olympics: Not all properties will be on the Podium

How Brisbane’s 2032 Olympics Will Impact the Residential Property Market – written by Nicola Buck

Brisbane’s successful bid to host the 2032 Olympic and Paralympic Games is expected to be a game-changer for the city’s residential real estate market. This major event will bring international attention to the city, boost tourism, and lead to significant infrastructure investments—all of which are poised to drive the growth of Brisbane’s property market. Both short-term and long-term, the Olympic Games will play a pivotal role in shaping the city’s urban landscape. In response to a significant increase in calls from prospective property buyers, in this article, we provide a comprehensive outlook on the possible impacts of the 2032 Olympics on Brisbane’s real estate sector.

Immediate and Long-Term Market Impacts

Since Brisbane was awarded the 2032 Olympic Games, the city’s property market has already seen considerable growth which has exceeded most of the capital cities of Australia in the 12 months to April 2025.

As property in some Australian regions cool, buyers and investors can expect the local Brisbane property market to continue to see strong price growth in the years leading up to the Games and beyond. The influx of international attention, coupled with urban renewal projects and infrastructure developments, will likely fuel continued demand, particularly in areas close to Olympic venues.

Key Infrastructure Developments

A cornerstone of Brisbane’s Olympic preparations is the array of infrastructure projects set to transform the city. Some of the most significant developments include:

Brisbane Stadium (Victoria Park): A 63,000-seat stadium will be the main venue for the Games and will host major sports events, including AFL, cricket, and entertainment shows post-Games.

National Aquatic Centre: Located at Spring Hill, this 25,000-capacity aquatic centre will serve as both an Olympic venue and a national training hub after the Games.

Athlete Village (Brisbane Showgrounds, Bowen Hills): This area will be developed into a mixed-use precinct with permanent housing and upgraded sporting facilities, contributing to long-term urban growth.

Queensland Tennis Centre: This venue will be upgraded with new match courts and a permanent show court.

Gabba Redevelopment: The Brisbane Cricket Ground will undergo demolition to make way for the Brisbane Live Arena and a high-density, transit-oriented entertainment precinct.

Cross River Rail and Metro: New transport links, including the Cross River Rail, will improve connectivity, making it easier for residents and visitors to access Olympic venues and key areas of the city.

These projects will lay the foundation for sustained property demand in the affected areas, particularly in suburbs such as Bowen Hills, Spring Hill, and Wooloongabba, which will benefit from increased infrastructure, improved amenities, and urban renewal.

Suburbs Poised for Growth

As the city invests heavily in infrastructure, the areas closest to Olympic venues and key transport hubs are likely to see significant growth in property values. Suburbs like Spring Hill, Bowen Hills, Kelvin Grove, and Albion are already experiencing increased buyer interest and are expected to benefit from enhanced infrastructure and urban renewal.

Property in proximity to Olympic sites, especially in areas with upgraded amenities, new housing projects, and commercial developments, will likely see an increase in value. However, investors must be mindful of the fact that not all properties in these areas will benefit equally so careful selection of quality assets is essential. In addition, construction activity may create some short-term inconveniences, and it will take time for these areas to fully develop.

Impact of Infrastructure and Transport Projects

One of the most significant factors contributing to the property market boom will be the improved connectivity provided by key infrastructure projects such as the Brisbane Metro, Cross River Rail, and improved access to the Brisbane Airport. These developments will enhance travel to key Olympic sites and improve general access to the CBD.

Properties located near these upgraded transport hubs, particularly in inner-city suburbs, are expected to experience a notable increase in value. Investors should keep an eye on these areas, as properties with convenient access to transport links will be highly sought after.

Brisbane’s Rental Market Outlook

The rental market in Brisbane is expected to experience significant growth, driven by the surge in demand from visitors, short-term workers, and increased population growth. In particular, short-term accommodation will see high occupancy rates during the Games, with long-term rental demand expected to remain robust even after the event.

As the city grows, the rental market will benefit from sustained demand for housing, particularly in well-located areas with good transport links to major attractions and amenities. The ongoing shortage of housing supply and strong projected interstate migration into Brisbane further supports the expectation of continued long term demand for rental properties.

Legacy of the Olympics

Historically, cities that have hosted the Olympics have seen significant increases in property prices driven by infrastructure development and the creation of new amenities. For example, the Sydney 2000 Olympics led to substantial property price growth in the years following the event. However, whether the post-Olympic property boom will be sustained in Brisbane depends on the effective utilization of Olympic venues and infrastructure in the years following the Games.

The Brisbane 2032 Olympic Games are planned with a long-term vision to create a sustainable legacy. Unlike cities like Athens 2004 and Rio de Janeiro 2016, where underutilized venues led to declines in property values, Brisbane’s emphasis on urban renewal, transport connectivity, and mixed-use precincts is expected to support long-term property value increases.

The successful transformation of areas like South Bank following Expo 1988 provides a blueprint for how the Olympics can drive lasting change. The South Bank area, once derelict, is now one of Brisbane’s most vibrant precincts, home to cultural attractions, restaurants, and parks. Similar transformation is expected around Olympic venues, particularly in areas such as Wooloongabba and Bowen Hills.

Short-Term Challenges and Risks

Despite the promising outlook, Brisbane faces several challenges in the lead-up to the Olympics. Construction disruptions, particularly in areas heavily impacted by venue development, could create short-term inconveniences. Additionally, the rapid rise in property prices has led to affordability issues, which may price some prospective buyers out of the inner city market.

Furthermore, developers may be under pressure to complete projects quickly, potentially leading to a focus on quantity over quality or inadequate consideration of the long-term demand for specific types of apartments. If these developments do not align with the actual needs of the post-Games market (e.g., too many low quality apartments or short-term rentals), it could result in a glut, particularly in the medium to long term. Investors should be cautious, ensuring that they focus on properties with strong investment fundamentals, which will help mitigate risks and ensure long-term growth.

Brisbane’s residential real estate market stands to benefit significantly from the 2032 Olympic Games. The combination of substantial infrastructure investment, urban renewal, and global attention will likely drive property value growth in the years leading up to and beyond the Games. Areas near Olympic venues, particularly those with improved transport links and new amenities, are expected to see sustained demand.

However, investors should remain mindful of the risks, including potential construction disruptions and affordability concerns. By focusing on properties with strong investment fundamentals and being strategic about location, investors can position themselves for long-term success in Brisbane’s evolving property market. The lasting legacy of the Games, with its emphasis on sustainability and urban transformation, ensures that Brisbane’s property market will remain a compelling option for years to come.

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