Commercial property in Australia
07 July 2015 by News Desk
Investment in commercial property by Chinese buyers in Sydney is four times greater than similar investment in Melbourne.
Sydney and Melbourne both saw 41 major commercial property transactions over the past 12 months, but while Sydney saw deals worth $4.18bn Melbourne registered just $950 million worth of commercial property developments.
The average commercial transaction in Melbourne was $23 million, compared to $101 million in Sydney where institutional investors mostly concentrate on bigger-ticket prime assets. But this rising wave of growth is due to change in 2016 as investors increasingly look to cheaper properties in Melbourne.
“Property is getting expensive in Australia. Commercial investors, like residential buyers, are increasingly looking at property in Melbourne which has become a more affordable option for buyers,” says Darrell Todd, ceo of thinkingaustralia.
“We will see a big rise in commercial property activity in Melbourne over the next 12 to 18 months.”
