Global real estate investors turn their attention to Australia
The International Herald Tribune reports: The Australian commercial real estate market, long dominated by local companies, has held its value because of low vacancy rates. But highly leveraged real estate investment trusts are in trouble because the global credit crunch has raised borrowing costs.
Investors from the Middle East as well as German funds seeking low-risk, low-return placements are searching for potential deals, said Robert White, president of the research firm Real Capital Analytics in New York.
"A lot of investors want to invest in Asia-Pacific for allocation reasons, but they're scared of China, and there are limited opportunities in other markets," White said. "So Australia has emerged as a very attractive market for Germans, for Middle East investors."
View the full article on The International Herald Tribune: Global real estate investors turn their attention to Australia
Posted by: Nina Turner