Retail foreign buyers dominate Australia market
The Australia market for shopping centres in both the CBD and non-CBD areas has recently been the target by foreign investors. Retail foreign buyers are dominating the Australia market by more than half and is not showing any signs of slowing down.
The Daily Telegraph released a recent report that CBRE research shows that foreign investors make up of 51% of shopping centre deals in the first half of 2016.
CBRE senior research manager of Australia Danny Lee said that “foreign investment has more than doubled over the past 12 months, as testament to the ongoing buyer confidence in the retail sector.”
CBRE national director of retail investment Mark Wizel adds that despite the central business district being the traditional hot spot, non-CBD areas were becoming more attractive to them.
Mr. Wizel said that this is primarily due to the lack of available stock on the Australia market in the prime CBD locations, driving the foreign investors to regional, sub regional and neighbourhood areas.