Foreign investment in commercial property grows nationwide
A recent release from the Reserve Bank of Australia has highlighted the growing popularity of the nation's commercial property for foreign buyers, highlighting the increasing strength of the sector in Australia and providing some insight into the possibility of future investment in commercial real estate in Darwin.
While most foreign buyers have made moves to purchase established property, there have been multiple instances of interest being expressed for the construction of new developments. Things like offices, shopping centres and industrial facilities have topped the tables, with the ripe economic environment being taken advantage of by buyers across the globe.
In fact, since 2008 foreign buyers have made up around one-quarter of the value of major commercial property purchases across Australia. This is an increase from the one-tenth recorded in the 15 years prior to this, with this figure continuing to increase as the national market provides more opportunities for investment.
Now could be a great time to consider making your own moves into the Northern Territory commercial market. With interest rates remaining low, securing finances and looking into local options in Darwin or Palmerston could be a great way to cement yourself in the market and get ahead for the future.