Foreign investment continues to grow
The trend of foreign investors buying into the Australian market continues to grow, with a report by commercial property giants, CBRE, confirming that 56% of all commercial property purchasers were made by foreign investors. This is the highest proportion of overseas investors in the last decade, and an increase of 8.5% from the same period last year.
CBRE confirmed that it was mainly Chinese investors who were purchasing in Australia, and they don’t expect this trend to stop. The Australian property sector is on track to break last years' record of $29.6 billion of property sales this year, and they expect to break that record again next year.
Some significant property transactions of the last quarter include the sale of Investa to the China Investment Corporation for $2.5 billion and GIC’s sale to Ascenda’s Real Estate Investment Trust (a Singaporean company) for $1.01 billion.