The Queensland capital has emerged as Australia’s leading luxury property destination, with population growth and infrastructure investment driving prime real estate investors to chase value growth in the market.

Brisbane’s luxury property market has emerged as one of the hottest globally, according to a recent report from commercial real estate network Knight Frank.

According to Knight Frank’s latest The Wealth Report 2026, the city has been experiencing rapid growth in its luxury property market, propelled by the upcoming 2032 Olympic Games and significant government infrastructure investment.

Research found that Brisbane’s luxury property prices rose by 2.1 per cent in 2025, while the Gold Coast jumped by 2.8 per cent.

Prices for prime real estate also performed strongly globally, rising by 3.2 per cent in 2025 and outpacing the mainstream property markets.

Investors in Brisbane’s luxury property market were also seeing the benefits of the city’s favourable planning environment, which allowed developers to fast-track projects.

The expedited planning process had seen the ceiling for high-end apartments rise from $9 million up to more than $15 million in just 12 months.

McGrath Estate Agents’ head of international and private clients, Adam Ross, said Brisbane had announced itself as a significant player in the global prime property markets, with its emergence occurring in a short time span.

“Brisbane’s rise is part of a wider story about Queensland’s appeal to wealth – from its cities through to its coastal lifestyle markets,” Ross said.

“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.”

The strong demand for high-quality luxury property in Brisbane saw the price of super-prime product exceed $48,000 per square metre, according to the report.

The growth in the prime property market had weakened buying power at the top end, with $1.5 million able to buy 5 per cent less luxury real estate than it could five years ago.

In 2021, luxury buyers in Brisbane could purchase 109 square metres for $1.5 million, while in 2026, that figure had fallen to 104 square metres.

Across Australia, the Gold Coast suffered the largest decrease in buying power, dropping from 126 square metres to 108 per cent.

The data showed that both Brisbane and the Gold Coast were likely to hold steady in 2026 before climbing by 2 per cent in 2027.

Similarly, the report found that Perth was expected to see the strongest growth in the prime residential market, with a 3 per cent increase in 2026, followed by a further 2 per cent jump in 2027.

Knight Frank international partner and managing director for Queensland, Justin Bond, said Brisbane had shown all the fundamentals to support 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,” Bond said.

“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.”

Ross said that the city was attracting more high-net-worth individuals, drawn to the market by a combination of lifestyle, scale, and value.

“These factors are resonating not just with domestic buyers, but with global capital as well,” Ross concluded.

This article was first published on Real Estate Business, a sister-brand of Property Buzz.