Perth commercial property attracting international attention
With a 39 per cent increase in the value of resource exports over the last financial year, it is ...
With a 39 per cent increase in the value of resource exports over the last financial year, it is little wonder that Western Australia has started to become the focus of an increase in international attention.
State government statistics show that WA accounted for 44 per cent of the nation's exports over the 12 months before June 30 2011 - with over $101 billion in minerals and energy products produced by the end of the financial year.
Perhaps as a result, new capital investment from private sources has reached $36.87 billion - making up 31 per cent of total expenditure in Australia - with a reported $300 billion still to be delivered over the next five years.
These results were achieved despite an abnormally long rainy season, a series of floods and serious skills shortages across various industry sectors.
The dynamic and resilient nature of the state's economy has in turned helped to drive the price of commercial property and office space in Perth to new heights, with some international resource companies setting up operational bases closer to the action.
In turn this has helped to grow rental returns for savvy investors in areas surrounding the capital's CBD - as professional service providers seek to establish a presence in the region to capitalise on the growing needs of an expanding population.