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Singaporeans shelled out $2.19b in Australian office properties
Investors enticed by Aussie's long leases and highre yields.
Jones Lang LaSalle Research shows offshore investment in the Australian office market reached a record high in 2012 at 42.9% of purchasers. More specifically, from the year 2010 to date, close to $3billion (AUD) was invested into the Australian market from Hong Kong, Singapore and Malaysia - 73% of this figure was from Singaporean investors.
Mr Kaufman said, “These investors are attracted by Australia’s secure long leases and significantly higher yields when compared to most major cities in Asia, and the majority of properties are freehold.”
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