Blog

July 06, 2017

Tourism is fuelling commercial property business

Tourism numbers are fuelling Noosa’s commercial property market. Increase in demand as interest in the region is blossuming. Noosa’s commercial property market presents an opportunity to buy into an already well-established region, set to experience even stronger growth from tourism and migration

  • In terms of domestic tourism, the Sunshine Coast is the second fastest growing region in Queensland. Figures show visitors to the region increased by 15.3% last year. The Sunshine Coast Daily this year reported the region experienced a 6% growth on previous year’s visitor expenditure, contributing $2.06 billion to the region, making it a popular destination for business growth.
  • Noosa has enjoyed a number of big commercial property wins of late, with investment in accommodation, retail and food the most prominent. With investments pouring into the region, this will further generate tourism interest, bringing a strong demand for surrounding businesses and start-up opportunities.
  • The strong tourism growth that is being seen throughout the Sunshine Coast is stimulating businesses in the region, which in turn are looking for investors to strengthen business exposure and increase profitability.
  • The Sunshine Coast is sitting with the second highest internal migration figures in Australia, proving the region one of the most popular destinations for people wanting a sea change. As the population grows, the demand for commercial infrastructure will need to increase in order to support this.

 

More tourism dollars are being spent in goods and services, making investment in commercial property in the region a solid venture for the future.