Toowong Village (4kms south west of Brisbane CBD) is about to be transformed with a $50 million refurbishment that will create a sophisticated shopping mall and a culinary delight with food cuisines from around the world.
The transformation is set to commence early 2014 and completion scheduled for late 2014.
Toowoong has long been one of Brisbane’s most tightly held suburbs due to its close proximity to the CBD and access to major infrastructure along with the soon to redeveloped Toowong Village prescient.
Along with this redevelopment, local property buyers in this Brisbane apartment market have driven prices upwards according to apartment sales data from Colliers International. Forecasting 2,500 apartment sales in Brisbane for 2014, a 10% increase on the previous year.
Local buyers are acknowledging the current affordability of apartments in Brisbane, while the low vacancy rates and attractive yields on offer in the city are attracting interstate investors. The market is showing very good value compared to Sydney and Melbourne where prices have already increased.
Published on 20th of October 2014 by Marty Stanowich