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Robert Davidson fears his apartment's value will plummet when a luxury high-rise apartment is built right next door.
The University of Queensland music lecturer lives on a leafy street in St Lucia, just down the road from his campus.
The developer, Place Design Group, plans to build a four-storey building with ten units at the neighbouring property, 7 Ryans Road.
Dr Davidson's real estate agent, Plum Property, estimates his apartment is currently worth $830,000, but would only sell in the $600,000 range if the development goes ahead.
"When I bought the unit I didn't know that was the case. It's kind of been sprung on me and it feels like I'm paying for someone else's profit," Dr Davidson said.
"I'm a huge supporter of medium-density housing. I just think you need to think strategically about where it should go, and there's so many reasons this is not strategic."
University of Queensland urban planning Associate Professor Dorina Pojani said, in her view, a four-storey housing development in that area of St Lucia was perfectly reasonable.
Dr Pojani said Brisbane's housing shortages were being exacerbated by "selfish NIMBYs" — home owners who oppose new houses being built in their neighbourhoods.
She said in her view this was a clear example of "typical NIMBYism", driven by fear of falling property values.
"That kind of attitude is extremely selfish as the city is undergoing a major housing crisis and we've got people living in tents and parks," Dr Pojani said.
"Even if their property values decline, I say 'who cares?'
"A house should be a place for living. It should not be a place to store wealth, showcase wealth, or pass wealth from generation to generation."
Dr Pojani said any new units, even luxury ones, would help boost Brisbane's housing supply and alleviate the shortages.
Place Design Group did not respond to the ABC's request for comment.
However in their written response to objections raised by residents, they rejected claims their building would lower neighbouring house prices.
"The development will have negligible impacts to surrounding property values," it said.
"The development will enhance the street appeal of Ryans Road, not only for the property subject of the development, but those within the immediate and surrounding area, having a positive influence on nearby property prices."
Brisbane artist Jackie Marshall, who currently lives with Dr Davidson, said she felt the developers were effectively "stealing" value from the neighbouring properties.
Ms Marshall said the development would worsen traffic, endanger cyclists, clear greenery, and spoil the views for neighbours.
"There are so many sites in St Lucia that are ripe for high and medium density building that do not contribute to cyclists' problems, that aren't on the floodplain, that aren't taking value away from residents' properties," she said.
"If the LNP are serious about solving the congestion problem they need to make sure we don't approve developments that will put cars on the Brisbane river loop and create a danger for commuters."
Natali Rayment is the executive director of Wolter Consulting Group and the co-founder of YIMBY QLD, an anti-NIMBY group.
Ms Rayment said Brisbane had a severe "missing middle" — a shortage of medium-density apartment blocks.
She said higher density accommodation was particularly crucial near facilities such as universities, train stations, and other areas of high activity.
She said many Brisbane residents still clung to the idea of low density suburbia, despite its drawbacks.
"We're a big city with great opportunities, yet we still seem to have these old country town values," Ms Rayment said.
"We've got a housing shortage and if someone wants to build four storeys in St Lucia right now, I think we need to say yes and get it happening."
The development is currently pending approval from Brisbane City Council, which is in caretaker mode for the local government elections.
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