When searching for an executive rental in Brisbane, there are some specific areas to look that will be host to more of these than some suburbs. Brisbane locals will be aware that inner city, riverside suburbs are among some of the most sought after, and expensive places to live in the city. These include suburbs such as New Farm, Newstead, Teneriffe, the CBD Bulimba an and Hawthorne. Today, however, we’re here to talk about the charm of Teneriffe, one of Brisbane’s most popular riverside suburbs.
Table of Contents
What is an Executive Rental?
By definition, an executive rental is a premium property that is characterised by its location, furnishing, quality and design. Because of these standards, executive rentals are often located in highly sought after, blue chip suburbs and are houses or apartments that are beautifully furnished and ensue a design that had a certain “wow” factor. Executive rentals are a great option for those who are seeking a higher quality rental and are able to afford to do so, but may not be in a position to purchase a home or unit of their own.
About Teneriffe
Teneriffe is located between New Farm and Newstead and is located just 2.5km north east from the Brisbane CBD. Teneriffe is known for its enviable lifestyle, dotted with some of Brisbane’s best cafes and restaurants along Vernon Terrace and within walking distance of the James Street shopping precinct. One of the best parts of Teneriffe is its position along the river, where you can enjoy long walks, have picnics on the grass or sit and enjoy the riverside sunset.
Purchase and Rental Prices
Teneriffe is one of Brisbane’s blue chip suburbs, which is reflected in the median purchase and rent prices for the area. As of March 2021, the median house price for Teneriffe is $2,000,000, and the median rental price is $890 per week. Making an investment in this area, you have the advantage to be able to ask for high rent prices on your executive rental in Brisbane, as tenants in this area already have an expectation of what they need to be paying. Over the past 12 months, Teneriffe property investors have enjoyed capital gains of over 2.03% for homes, and 5.31% for units.
Demographics
As of 2021, Teneriffe’s population sits at 5,341, with an average age of 20 to 39 years of age. Of these, 57% are renters, meaning that there is more demand for rental properties than there is properties to purchase, posing a great opportunity for keen investors. Currently, sellers are experiencing 890 visits per property, compared to the Queensland average of 877 visits, making for a competitive, yet enthusiastic market; great for landlords and sellers alike.
Types of Homes
The housing selection in Teneriffe consists of a combination of apartments, townhouses and homes, with many of these boating both river and city views. Being a blue chip suburb, many of the properties in Teneriffe are of a high calibre, with architecturally designed homes and apartment buildings that have a range of luxury amenities. One of Teneriffe’s most iconic apartment buildings in the area is the Woolstore Apartments located at 64 and 50 Macquarie Street. These apartments are a beautiful combination of modern architectural design and traditional elements of the old woolstores dating back to the early 1900’s. In addition to this, Teneriffe has a many stunning homes that line the streets in the hills, giving occupants those enviable city and river views.