Australia dominates Asia Pacific real estate markets
Nearly half of all commercial real estate investment within the Asia Pacific region is channelled into Australia’s commercial property sector, according to a recent report by Jones Lang LaSalle, the global real estate consultancy firm.
According to the report, the amount of investment in Australia’s commercial real estate clearly outweighs the markets of Japan and China, which saw the second and third highest amount of investment in the region respectively.
Transparency, competent regulatory management and solid economic fundamentals established within Australia’s real estate market are said to be the key factors drawing in prospectors looking to expand their portfolios.
Australia’s commercial property investment doubled that of Japan markets at 19% and China’s at 18%.
Speaking at a retail outlook breakfast in Melbourne last week, Jones Lang LaSalle’s head of research and consulting, David Rees said: “Australia punches well above its weight in terms of direct investment, [...] last year 29% of investment came from offshore – an all-time record.”
Commenting further Mr Rees said that while the dominant markets of New York, London and Paris are continuing to attract significant offshore investment, Asia Pacific markets are continuing to grow, with a major influx of investment happening within the country currently underway.