29 Sep '14, 3am

Singapore is top foreign investor in Aussie commercial property: Report

Singapore is top foreign investor in Aussie commercial property: Report

Singapore is the top foreign investor in Australia's commercial real estate market, according to a CBRE report. The report found that about A$18.8 billion (S$21 billion) of net foreign investment has been made in the country since 2005, with Singapore accounting for about 28 per cent or A$5.3 billion. Germany is next at 14 per cent, the United States at 13 per cent, and China at 9 per cent. The report noted that Australia represented 5 per cent of global property turnover over the past three years - well above the country's gross domestic product weighting of 2 per cent. This has been driven to a large extent by foreign capital, with Australia reaping more cross-border investment than any other Asia-Pacific market between 2012 and 2014, said CBRE. "Australia has attracted an above-average share of capital primarily due to firm and stable economic conditions, which have sup...

Full article: http://business.asiaone.com/news/spore-top-foreign-invest...

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