Commercial property purchases popular among foreign buyers

Commercial property purchases popular among foreign buyers

All of the focus on foreign ownership has been on residential property and the government forcing the sales of foreign-owned residential property has made front page news. However, not much attention has been focused on foreign ownership of Australian commercial property. Commercial property in Australia remains as popular as ever according to an analysis by CBRE.

 

Figures show that the sale of office, industrial and retail property valued at over $5 million totaled $28.4 billion during the 2015 calendar year.

 

These values are only 4% less than 2014’s record sales of $29.6 billion.

 

According to CBRE’s analysis, 2015 had the greatest market share of foreign investors investing in commercial property with $11.7 billion in purchases equating to 41% of the total commercial property sales in Australia.

 

It has also been observed that Australian investment is also flowing offshore in what is now a globalized market place.

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