Brisbane property values to benefit from G20
Brisbane’s “dwindling property investment appeal worldwide” could be significantly improved if the city puts on a good performance during the G20 summit later this week, according to a local commentator.
Ayda Shabanzadeh, managing director of Grow Consulting Group, said the city had the opportunity to regain some of its international allure after a spate of recent racist attacks had dampened the enthusiasm of international investors.
Ms Shabanzadeh cited recent incidents including the public racial abuse of a train guard, the tragic murder of international students and the graffiti of a local mosque as examples of the city’s recent struggles – but said the G20 was a chance to reset the city’s reputation.
“Brisbane’s standing as a foreign property investment destination has taken a hit because of the racist incidents here which have caused overseas investors to second-guess the stability of the city,” she said.
“With the eyes of the world set to be firmly on Brisbane during the G20, we can show the globe that these incidents were anomalies and that Brisbane’s a safe and culturally tolerant environment.”
Ms Shabanzadeh said the increase in worldwide exposure for Brisbane can help to “allay doubts” foreign property investors may have about Queensland's capital.
The 2014 G20 summit on 15-16 November is expected to attract up to 4,000 delegates and 3,000 media representatives to Brisbane.
Ms Shabanzadeh said that besides using the event as a promotional tool to lure back international property investors, the "political meeting of minds" would also serve to benefit the local economy.
“We need to showcase Brisbane for what it is – a city with a terrific climate, great education facilities, a relaxed vibe, kind locals and where properties have growth potential,” she said.
“Hosting the G20 will stimulate our economy due to, for example, hotels being booked by visiting delegates and locals visiting regional cities for the weekend to avoid Brisbane’s increased traffic.”