Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Australia's office market strides ahead of international counterparts

Staff Reporter 1 minute read

Australia’s commercial office space is performing significantly well compared to most other international markets according to Colliers International’s Global Office Real Estate Review.

Released yesterday, the report confirmed activity in the commercial space dwindled to less than half of 2007 levels in 2008 in most regions across the globe as a result of the global economic downturn.

Australia however was a “standout” region with vacancy levels far lower than the US and Asia Pacific. Australia’s office vacancy rate now stands at 5 per cent, compared to 8.9 per cent in the Asia Pacific and 14.2 per cent in the United States.

Colliers also expects activity to increase in Australia’s office markets this year, with enquiries from private investors, foreign buyers and syndicators already picking up.

“Australia is better value for money than most other global cities with a lowered currency and higher yields than European and US cities, which represents an advantageous opportunity for investment in Australia,” Colliers managing director of investment sales John Marasco said.

Australia's office market strides ahead of international counterparts
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
Michael Russell MoneyQuest Brokerage head calls out ‘unacceptable’ turnaround delays

It is “unacceptable” that turnaround times in branches can be...

gentlmen handshake Ex-Time Home Loans director partners with AFG

The aggregator has partnered with former Time Home Loans director...

farmer ta 34% of farmers eyeing raised business investment

Roughly one-third of Australian farmers expect to increase their ...