Teneriffe, Brisbane, QLD

Teneriffe is an upscale inner-city suburb located just 2.5 kilometers from Brisbane’s CBD. Once an industrial hub, Teneriffe has transformed into one of Brisbane’s most exclusive riverside areas, known for its blend of historic charm and contemporary urban living. The suburb is renowned for its heritage-listed woolstores, luxury apartments, and picturesque riverfront views, making it a highly desirable location for professionals, downsizers, and affluent buyers.

Property Market Overview

Teneriffe’s iconic Woolstores have been converted into stylish, spacious apartments, preserving the character of the buildings while offering modern living with industrial features. High-end apartment developments line the Brisbane River, providing residents with stunning views and exclusive amenities, such as pools, gyms, and direct river access. While limited, boutique townhouse developments offer an alternative for those seeking more space while still enjoying the inner-city lifestyle.

Median Property Prices

• Houses: Teneriffe is predominantly an apartment suburb, with very few standalone houses. The few that exist have a high median price of approximately $4 million (September 2024).

• Units and Townhouses: The median price for units and apartments in Teneriffe is around $850,000 reflecting the premium nature of the suburb’s desirable riverfront and woolstore properties (September 2024).

Rental Market

• Demand and Yields: Teneriffe’s rental market is highly competitive, with strong demand from professionals and executives drawn to the area’s proximity to the CBD, riverside lifestyle, and luxurious living options. Rental yields are generally healthy, driven by the suburb’s prestige and demand, rental yield for houses is 2.1% and the rental yield for apartments is 4.7% (September 2024).

• Median Rents: The median rent for apartments is approximately $720 per week, with riverfront properties and heritage apartments commanding higher rates (September 2024).

Lifestyle and Amenities
Teneriffe offers an exclusive riverside lifestyle, complemented by boutique dining, trendy cafes, and chic bars. The suburb is well-known for its vibrant cafe and restaurant scene along Vernon Terrace and the Teneriffe boardwalk. Residents enjoy easy access to nearby Gasworks Plaza, which provides a range of retail stores, gourmet grocers, and specialty shops. Public transport is easily accessible, with the Teneriffe Ferry Terminal and bus services providing quick connections to the CBD and surrounding suburbs.

Schools and Education
While Teneriffe itself is a small suburb, it is close to a range of quality educational institutions. The area is near New Farm State School, All Hallows’ School, and several high-performing schools in nearby suburbs like Fortitude Valley and Spring Hill.

Recreation and Leisure
Teneriffe’s location along the Brisbane River provides plenty of recreational opportunities. The suburb boasts the scenic Teneriffe Riverwalk, perfect for cycling, jogging, or simply enjoying the river views. Nearby New Farm Park offers additional green spaces for picnics, outdoor activities, and weekend markets. Residents also benefit from the Teneriffe Festival, an annual event celebrating the suburb’s culture, food, and history.

Future Prospects
Teneriffe’s property market is expected to remain strong, driven by its premium riverside location, ongoing demand for luxury living, and heritage appeal. With limited development opportunities, property in Teneriffe remains a tightly held asset, ensuring its status as one of Brisbane’s most prestigious suburbs.