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Brisbane offices set to experience ‘once-in-a-cycle’ surge
The Brisbane real estate market has remained strong throughout 2025, and investors could see comparable returns in 2026 by acquiring well-located CBD office properties.
According to Real Asset Management (RAM), Brisbane’s CBD office market will offer a rare multi-year opportunity for well-located assets driven by low vacancies, limited supply, and rising demand.
RAM director of funds management Mike Nguyen said that office investors who moved early on purchases in Brisbane would benefit from the city's rapidly improving market.
“Brisbane is emerging as APAC’s fastest-growing office market, driven by rapid population inflows, a rising white-collar workforce and a development pipeline that effectively shuts off after 2026 as the city pivots towards Olympic-related infrastructure,” Nguyen said.
Data showed that Brisbane’s CBD vacancy rates have tightened to around 10 per cent, with prime-grade vacancies at around 8 per cent.
With Brisbane’s CBD physically constrained in growth opportunities and no substantial new supply expected post-2026, Nguyen said investors who acted promptly could capitalise on a rare opportunity.
“Office assets in Brisbane are trading at 15-30 per cent below replacement cost, an extraordinary discount given the long-term demand outlook,” Nguyen said.
“As cap rates stabilise, and REITs and offshore capital re-enter the market, this pricing gap is unlikely to persist.”
RAM said that, with infrastructure set to reshape the city’s transport network, including improved access to the CBD, demand for offices would continue to grow over the coming years.
With the population of south-east Queensland forecasted to grow by almost two million residents by 2040, adding an extra one million jobs, RAM said well-located office assets would continue to experience strong demand.
Additionally, RAM said workplace structures would act as a “tailwind” for the city’s CBD office market, with 87 per cent of jobs requiring office attendance, while only 9.4 per cent offered remote work.
For commercial agents in Brisbane, RAM said the environment has created opportunities to reposition well-located A and B-grade assets and capture rental uplift, with demand focusing on quality properties.
Similarly, the broader Brisbane area has higher office yields for investors nationwide, generally in the 7-8 per cent range, marking a significant premium compared to other major hubs such as Sydney and Melbourne.
Despite the anticipated strong growth of the river city, Nguyen said the growth opportunities weren’t simply in buying premium-grade buildings, but in ensuring they are strategically located where demand is high and supply is constrained.
“Brisbane’s office market is at the beginning of a multi-year tightening phase.”
“The next 12-18 months represent a rare window, and investors who understand the interplay of these forces will be best positioned to benefit,” Nguyen concluded.