Ensure you never miss an issue of the
real estate business bulletin
Brisbane’s ‘racist reputation’ hindering investment

Brisbane’s ‘racist reputation’ hindering investment

by Staff Reporter 0 comments

Foreign property investors are turning away from Brisbane due to recent racist attacks, says a property consulting group.

Grow Consulting Group said recent news coverage of Brisbane’s racist attacks are “going viral and scaring away foreign property investors”.

The consulting group said negative stories that have attracted global attention include an African security guard being racially abused on public transport, tragic murders of innocent international students and Prime Minister Tony Abbott supporting a burqa ban.

Grow Consulting managing director Ayda Shabanzadeh said international property buyers are "growing cautious” about investing in Brisbane.

“A primary attraction for foreign property investors to Brisbane is the lure of being able to send their children here for a quality education, together with property that is considered very affordable in comparison to similar cities around the world,” she said.

“Brisbane has a property market with massive upside and quality tertiary education providers which are popular among internationals, however, investors are now uncertain about buying property and sending their children here because of the city's perceived racism."

Due to the racist nature of recent headlines, Ms Shabanzadeh said a growing amount of international property investors have “expressed their concerns" about Brisbane’s safety and liveability for international students.

“You have to put yourself in the position of a parent in a foreign country who’s looking to make an investment that will one day benefit their family not just their bank account,” she said.

“They want to invest where there's growth potential, where it's safe and where they can send their children to study and right now Brisbane’s safety and tolerance towards foreigners is undoubtedly under question.”

Ms Shabanzadeh warned that if multicultural relations weren’t improved, Brisbane may struggle to continue to attract foreign property investment.

“It may get to the point where overseas property buyers prefer to consider some European countries which they view as offering a better quality of life, affordable property prices, excellent schooling and greater cultural acceptance,” she said.


Brisbane’s ‘racist reputation’ hindering investment
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?