Australian commercial property sale value well down in first quarter
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Bullish foreign raiders put a floor under the falling transaction tally in the commercial property sector during the first three months of 2021, which featured the lowest level of domestic investment in more than five years.
New research from Real Capital Analytics revealed that the $5.9 million value of commercial property sales during the period was 19 per cent down on 2020.
Sydney office deals worth $2 billion were sealed during the first quarter of 2021, according to RCA research.
Peter Braig
RCA said domestic investor transactions fell 42 per cent year on year to $3.4 billion, while the value of properties bought by international entities rose 83 per cent, reaching $2.5 billion.