Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

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

“Huge wall of capital” to flow into Australian real estate

By Staff Reporter
24 November 2009 | 1 minute read

Asia-Pacific investors look set to flock to Australia’s property market following South Korea’s National Pension Service’s decision to buy a prominant Sydney office building.

Advertisement
Advertisement

According to today’s The Australian, the move could herald the first of “a huge wall of capital waiting to flow into Australian real estate”.

The acquisition of the 44-storey office building called Aurora Place owned by Colonial First State Asset Management is said to be the biggest office sale in Australia almost two years.

The acquisition is one of several recent foreign acquisitions in the Australian real estate market by Asian sovereign wealth funds.

Alistair Hughes, chief executive of Jones Lang LaSalle Asia-Pacific, who was involved in the tender for Aurora Place, said: “We have clients who have billions of dollars to invest in real estate and their preference is Australia”.

Mr Hughes said that Asian wealth fund investors were attracted to the Australian property market because Australia was the only mature economy not to slip into a recession.

Mr Hughes also observed that foreign investors would rather put their money into Australian real estate, in which the legal framework is predictable and transparent.

 

 

 

“Huge wall of capital” to flow into Australian real estate
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Queenton
69.76%
Flying Fish Point
69.61%
Point Piper
69.17%
Glenelg South
69.02%
Pretty Beach
69.01%
Bar Beach
68.9%
Northampton
68.7%
Kembla Grange
66.91%
Boomerang Beach
66.67%
Gnarabup
66.67%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.