Brisbane 2032 Olympics set to fuel long-term property market growth

The Brisbane 2032 Olympic and Paralympic Games are expected to act as a catalyst for long-term property market growth, rather than a short-lived boom followed by a downturn, new research from CBRE shows.

CBRE’s Brisbane 2032: Separating the Real Estate Myths from Realities report examines the implications of the Games across residential, hotels, office, retail and investment markets, concluding that Brisbane’s fundamentals, including strong population growth, chronic housing undersupply and a sustained infrastructure pipeline, position the city for enduring benefits well beyond 2032.

“Brisbane’s property markets are already being shaped by forces far larger than the Olympic Games alone,” said Tom Broderick, Head of Office & Capital Markets Research at CBRE.

“The Olympics will amplify trends that are already in play, particularly strong demand, limited supply and rising global visibility, rather than create a temporary spike that fades once the Games are over.”

Residential markets already outperforming

CBRE’s research shows Brisbane’s residential market has significantly outperformed national price growth since the city was confirmed as the 2032 host in 2021. This trend mirrors the experience of previous host cities, including Sydney, London and Paris, where residential values continued to strengthen in the years following the Games.

“Concerns around a post-Olympics housing slump aren’t supported by the data,” Mr Broderick said.

“Historically, residential markets in Olympic cities have performed more strongly in the four years after the Games rather than in the four years leading up to them. Brisbane’s existing supply constraints mean it is well placed to absorb new stock delivered through projects like the Athletes Village.”

Hotels, tourism and infrastructure provide lasting legacy

The report also highlights significant opportunities for the hotel and tourism sectors, with Brisbane and South-East Queensland expected to benefit from both short-term Olympic demand and sustained growth in global visitation post-2032.

During the Olympic month alone, host cities have historically recorded an average increase of nearly US$400 million in hotel room revenue, driven by sharp rises in room rates and occupancy. However, CBRE notes that the more meaningful uplift typically occurs in the years following the Games, as improved infrastructure and global exposure translate into higher ongoing tourism demand.

CBRE’s Senior Managing Director, Queensland Chris Butters said, “The real prize for Brisbane isn’t just the two weeks of competition, it’s the legacy.

“The Games will fast-track critical infrastructure, elevate Brisbane’s profile on the global stage and reinforce Queensland’s position as a destination to live, work, invest and visit,” he added.

Investment confidence strengthening

CBRE’s analysis also shows a notable shift in investor capital towards Queensland since the Brisbane 2032 announcement, with the state capturing a larger share of national commercial property investment volumes.

“The Olympics will provide an additional layer of confidence for both domestic and offshore investors,” Mr Butters said.

“When combined with strong population growth, a major infrastructure pipeline and relative affordability, it’s clear why Queensland is poised to attract increased attention.”

A catalyst, not a cliff

While construction activity related to Games infrastructure will increase competition for labour and materials in the short term, CBRE expects constrained supply across multiple property sectors to underpin rental growth and investment performance in the lead-up to 2032 and beyond.

“The key message from this research is that Brisbane is not facing an Olympic ‘cliff’ post Games. In reality, Games-related infrastructure represents only a small share of the construction activity already underway across the state,” Mr Broderick said.

“If anything, 2032 represents a milestone in a much longer transformation of the city and the broader South-East Queensland region,” he added.