Jan Somers, the founder of property forum Somersoft, has told Australian Property Investor magazine that the Gold Coast's role in the Commonwealth Games will give its housing market a boost and urged potential investors to move quickly to take advantage.
Her comments came after the region was awarded the 2018 Commonwealth Games over Sri Lankan city Hambantota this weekend. Although the Games will not begin for seven years, Ms Somers urged buyers to take advantage of the encouragement they have given the area.
"It takes a long time for the market to react so if you're going to buy anything and hope for a positive result, you really have to do it now," she said.
The property expert added that she felt the news had provided a 'psychological and moral' lift for the coastal Queensland region.
Scotland's biggest city, Glasgow, will host the 2014 edition of the event and previous hosts have included Melbourne and Auckland.
Posted by Ravin Chatlani