Australian attracts strong interest from overseas investors
Australia remains an attractive property investment hotspot among overseas buyers, with this trend ...
Australia remains an attractive property investment hotspot among overseas buyers, with this trend likely to continue in 2013.
That's the assertion made by CBRE head of Asia Pacific research Nick Axford, who stated that as confidence returns to the global economy, Australia is likely to see increased demand from foreign investors.
"Over the year to December 2012, Australia was the most active investment market in Asia Pacific, and was the most popular port of call for investors outside the region," Mr Axford explained.
"Despite the relatively high cost of finance and the perceived currency risk, Australia remains attractive to investors – largely because it is a mature, transparent, liquid real estate market where pricing looks attractive relative to the very low yields prevailing elsewhere in the world."
Mr Axford went on to say that the Asia Pacific region has seen a steady rise in global investment, with a significant improvement in the last six to nine months.
CBRE head of research for Australia Stephen McNabb said foreign investors were showing levels of interest stronger than what was recorded before the global financial crisis - another vote of confidence for the nation's property sector.