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Tuesday 15 May 2012

"Australian commercial property ‘safe haven’"

Hi Followers

As many of my clients have interest in commercial property I thought I'd share this article:

Investors from Hong Kong, Singapore, Malaysia and China are turning to the Australian commercial property market in search of higher rental returns, according to CommercialAsia.com.

National sales manager for Australia and New Zealand Corey Weekes says Australia’s steady economy and commercial property sector, particularly in the areas connected with the resources boom, offers Asian investors attractive yields to preserve and grow their wealth.

“Region-wide cooling measures for property investment by Asian governments are also driving many Asian investors to explore offshore options like Australia,” Weekes say.

Offshore-based institutions and private investors accounted for 37 per cent of Australia’s commercial sale transactions in 2011.

City sales director with Knight Frank, John Bowie Wilson, adds the number of offshore investors interested in the Australian commercial market is increasing on a daily basis, as prices rise in Singapore and as Hong Kong awaits a currency correction against the US dollar.

“Asian investors are typically capital-rich and have a good understanding of the requirements when investing in Australian property,” Wilson says.

“The recent drop in interest rates is helping local private and institutional investors to return to commercial property investments, however it’s still a challenge for many domestic investors to raise capital.”

This information was gathered from:
http://www.apimagazine.com.au/api-online/news/2012/05/australian-commercial-property-safe-haven

DEB BRADY
0405 570 903

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