Queensland's 2032 Olympics Plan: A strategic blueprint for real estate and infrastructure

With the unveiling of the “Delivering 2032 and Beyond Plan,” the Queensland government has set forth a comprehensive strategy aimed at transforming Brisbane and surrounding areas for the 2032 Olympic and Paralympic Games.

This plan, rooted in a detailed assessment by the Games Independent Infrastructure and Coordination Authority (GIICA), proposes significant developments in venues and infrastructure.

Property Council supports Queensland’s 2032 Olympic infrastructure

The Property Council has strongly endorsed the Queensland government’s strategic venue choices and infrastructure improvements, as outlined in their plan.

These initiatives are expected to significantly boost economic benefits and enhance community livability across Queensland, which recorded strong performance in the December quarter.

Key developments highlighted by the council:

• Victoria Park: The proposed 63,000-seat stadium is set to be a focal point for the Olympics, driving urban renewal and increasing property values in the area.
• Centenary Pool at Spring Hill: The new National Aquatic Centre is expected to catalyze local real estate development and improve community facilities.
• Brisbane showgrounds and regional villages: Transforming the Brisbane Showgrounds into an athlete village and arena, along with new villages on the Gold Coast and Sunshine Coast, will likely boost the residential property market in these areas.
• Transport enhancements: A new direct rail line from Beerwah to Birtinya, including a connection to the Sunshine Coast Airport via Maroochydore, is crucial for enhancing the accessibility and attractiveness of regional properties.

A 2021 PRD study suggested the 2032 Olympics could elevate Brisbane’s median property price beyond $1 million, potentially reaching $1.7 million, similar to effects from past regional events.

A visionary legacy for Queensland’s real estate

The Property Council has lauded the proactive approach taken by the Queensland government in ensuring that the 2032 Olympics will be a catalyst for long-term economic growth and real estate development.

The government has also indicated that it will commence a market-led proposal process to engage the private sector to deliver Brisbane Live at the former Go Print site at Woolloongabba.

For more information, read the media releases from the Queensland government and the Property Council.