Overseas Investment Ramps Up

March 28 2024

The Gold Coast has emerged as the No.1 city in the world in which to own a second home with international investors returning to the market.
Overseas Investment Ramps Up

Australian cities have dominated a list of most popular destinations in which to own a second home, with the Gold Coast the most in-demand.

Comparison website Get Agent analysed Google search data from 350 countries to come up with a list of 20 hotspots.

The Gold Coast beat the likes of Cape Town, Los Angeles and Lisbon to rank as the No.1 city in the world in which to own a second home or holiday home, generating more than 49,000 searches annually.

It was followed by Melbourne with 44,900 searches, York in the UK with 33,800, Cape Town in South Africa with 32,900 and Malaga in Spain with 26,200. Australia’s Adelaide, Perth, Sydney and Brisbane also made the Top 20.

Gold Coast | Kollosche

The Gold Coast has always been a magnet for tourists, with visitors drawn by the city’s beaches and warmer climate.

Yet as the region continues to mature, with increased employment opportunities and better infrastructure and overall amenities, more people are viewing the city as a worthwhile investment opportunity.

Now that global travel has fully re-opened, foreign investors are starting to return to the market, with data from property portal supporting the trend.

Data shows searches across the website originating from overseas in 2023 were at the highest level seen in five years, with offshore searches up 17 per cent, compared to the 12 months to December 2022. Its analysis placed the Gold Coast as the second most searched destination by offshore investors, behind Melbourne only.

Meanwhile, data from international real estate group Juwai IQI found Australia to be the world’s number one country for Chinese buyers, with 70,000 new Chinese migrants expected in the country by 2025.

6154 BOLSENA CIRCUIT | Kollosche
Homes in Hope Island Resort are FIRB approved

Helping draw international investors to the Gold Coast is a high number of Foreign Investment Review Board (FIRB)-approved homes, particularly within the blue-chip waterfront estates of Sanctuary Cove and Hope Island resorts. FIRB approval makes it easier for international investors to buy property in the local market.

As Queensland hurtles towards the 2032 Olympics, the profile and popularity of the Gold Coast is only set to grow, bringing more migration and demand for local real estate.

To find out how you can take advantage of the foreign investment market, reach out to an experienced Kollosche agent for an informed conversation on potential opportunities.

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