Sydney & Melbourne: world capitals of real estate
Australian commercial property is now amongst the most sought after in the world Australians have always punched above their weight, whether it’s on the sporting field, in Hollywood, business or elsewhere. But now our commercial property is joining the likes of Nicole Kidman, Rupert Murdoch and the Atlassian founders on the world stage. At its recent AGM, Cromwell Property (ASX: CMW) CEO Paul Weightman noted ‘that Australia now ranks as one of the world’s largest destinations for commercial real estate investment with Sydney the fourth most popular global gateway city behind only London, New York and Paris when considering international flows.’ I admit to being a little surprised upon reading this and had to read it again to make sure I had done so correctly. Sydney, a city of four million people in a country of 24 million that produces a mere 2% of world GDP is the fourth most popular destination for commercial property investment on Earth. And Melbourne isn’t too far behind. Continue to full article here: (VIEW LINK)
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