Leading commercial property agents are claiming Asian investors now represent the fastest growing market globally of both commercial and residential real estate buyers in South Australia.
China remains steadfast as one of the ongoing growth areas for commercial development however strong positive sentiment has emerged from countries such as Vietnam, Malaysia and Singapore. Asian forecast GDP is estimated to grow by 6.1 per cent as an annual average from 2019 to 2023, exceeding expected western world GDP growth and laying the foundation to further fuel demand in the commercial property sector.
“Asian investment is a market that is going from strength to strength,” said Belle Property Commercial’s Calvin Lai.
South Australia’s attractive investment yields are surpassing the return on investment for Asian investors in comparison to their own countries and the availability across Australia’s eastern seaboard, with the State’s stamp duty waiver on commercial properties further adding value.
Adelaide’s global appeal as a city designed for life has also been a large driver of residential investment.
“SA is ranked as one of the world’s top 10 ‘most friendly and most liveable’ cities so motivations for new buyers range from own use, immigration, investment and education for their children,” said Belle Property Commercial (Adelaide) director David Buenfeld.
“Adelaide has strong destination appeal drawing global accolades and high volumes of attention from international investors.”
The City of Adelaide Economic Development and Innovation Team continues to support international investors by connecting potential investors with property owners and managers in the CBD. The case management approach enables outcomes to be achieved through clear direction and assistance throughout the application and the development process.
Contact Dominic Pangallo for more information on investing in Adelaide. D.Pangallo@cityofadelaide.com.au or +618 82037593.
Quotes sourced from ‘Face’ trumps all when it comes to securing global deals say property agents by Richard Evans in The Advertiser, 9 July
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