Sydney has been recognized as the fourth most attractive real estate market for investors across the globe, trailing behind power cities like London, Tokyo, and San Francisco which landed on the top three, respectively.
The latest CBRE’s Global Investor Intentions Survey 2015 found Sydney to be on top of New York and Paris, a ranking that should be of no surprise, says CBRE national director for capital markets, Josh Cullen.
“This ranking is no surprise, with Australia offering some of the highest returns on a global basis across all our core sectors, with returns on secondary assets being even more attractive,” Cullen was quoted as saying by the Financial Review.
“We are starting to see positive signs in the office sector in a range of Australian CBD markets, which will underpin growth expectations.”
The survey also found more than half the 700 real estate investors expressed their plans to increase property purchases this year, a significant increase from only about a third from 2014.
“We believe that a low interest rate environment, economic expansion in an increasing number of markets, and corresponding improvement in real estate fundamentals will attract capital to commercial real estate,” CBRE Capital Markets’ global resident, Chris Ludeman, was quoted as saying