Brisbane has been catapulted onto the world stage as one of the hottest luxury property markets on the planet alongside Miami, Mumbai, and Abu Dhabi.
The Queensland capital has been singled out as one of the world’s emerging global luxury hotspots in a new report by Knight Frank, which found it is one of only a handful of cities globally experiencing unprecedented luxury appeal among the mega-wealthy.
RELATED: How Brisbane’s 2032 Olympic Games is changing the city lifestyle
Olympic ‘gold rush’ sees apartment prices surge in key suburbs
Brisbane has joined an elite club of countries emerging as luxury property destinations for the ultra-rich.
Top-end apartment values have smashed through their long-standing ceiling of $9 million to more than $15 million in just 12 months, as developers race to deliver ultra-luxury projects, according to Knight Frank’s 20th edition of The Wealth Report.
Super-prime stock now exceeds $48,000 per square metre — reflecting intense demand for turnkey, high-end apartments.
“Brisbane’s rise is part of a wider story about Queensland’s appeal to wealth — from its cities through to its coastal lifestyle markets,” McGrath’s head of international and private clients Adam Ross said.
| How much prime property does US$1m buy in Australian cities? | |||
| US$1 million bought this | City | US$1 million bought this | 5-year change in |
| many sqm in Q4 2020 | many sqm in Q4 2025 | buying power | |
| 44 | Sydney | 42 | -5% |
| 79 | Melbourne | 83 | 4% |
| 103 | Perth | 92 | -11% |
| 109 | Brisbane | 104 | -5% |
| 126 | Gold Coast | 108 | -14% |
| Source: Knight Frank | |||
“The city’s emergence as a global luxury market has happened remarkably quickly.
“What we’re seeing is the convergence of major infrastructure investment, a favourable planning environment and growing international awareness ahead of the Olympics, which is creating more supply and demand.
“There’s a real can-do attitude in the city. You can get an 80-storey tower approved in less than a year. Anywhere else in Australia, that’s simply not happening.”
Luxury prices in Brisbane climbed 2.1 per cent over 2025, while the Gold Coast rose 2.8 per cent — with prestige homes above $22.5m becoming increasingly common.
Aerial view of the stunning Gold Coast skyline in Queensland, Australia. Photo: iStock
But buyers are getting less for their money, with US$1 million now buying about 5 per cent less luxury property in Brisbane than it did five years ago, while the Gold Coast has seen buying power plunge 14 per cent.
The surge comes as Australia’s wealth boom accelerates.
The number of ultra-high-net-worth individuals — those with a net worth of about $42m — is forecast to jump almost 60 per cent over the next five years, while the billionaire population is set to surge 77 per cent by 2031.
Knight Frank Queensland managing director Justin Bond said Brisbane had all the fundamentals for long-term growth.
“In recent years Brisbane has been prioritised as an investment location for global capital, with the city’s excellent growth prospects increasingly being acknowledged,” he said.
The Brisbane Olympic and Paralympic Games in 2032 is helping to drive luxury property growth. Picture: Nigel Hallett
“The solid population growth we have seen in the city — and in fact, Queensland — is underpinning growth and will continue to do so for many years.
“The 2032 Olympics is also a major factor in investment decisions, as the event has not only put Brisbane on the world stage but has also led to significant public and private infrastructure spending.”
MORE: Grim future for Queensland renters past 2032 Olympics
Brisbane house prices to surge 11pc – nearly double Sydney
Place New Farm prestige agent Heath Williams said Brisbane had moved from being “a value play” to a considered allocation for global wealth.
“Buyers aren’t comparing us locally anymore; they’re benchmarking Brisbane against the world,” Mr Williams said.
“What we’re experiencing in the top end is that buyers and sellers aren’t transacting solely in the open market anymore. It’s happening through invitation-only introductions, where the right buyer is identified before a campaign even exists.
“For ultra-high-net-worth clients, privacy is often more valuable than competition. A broad campaign can actually dilute the outcome they’re trying to achieve.”
The Brisbane CBD skyline.
Ray White chief economist Nerida Conisbee said South East Queensland had seen “extraordinary growth,” with Brisbane topping the list alongside the Gold Coast and Sunshine Coast.
Ms Conisbee said that while growth had “moderated a bit” in March and April, the 16 per cent price growth in Brisbane in the past year was still considered “extreme”, with population growth a key factor driving the demand.
While overall consumer sentiment was weighing on everyone, open home data remained strong, averaging 3.2 attendees in Brisbane, compared to 2.1 across Australia.
Ms Conisbee said affordable housing was “the big challenge,” noting that very few homes sub-$750,000 were available now, compared to a decade ago.
“The rental market is also very challenging and rent hikes exceed inflation, with any risk to a reduction in rental properties posing a significant problem for renters,” she said.
English (US) · 