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Australian property at No. 2 for international investment

Australia ranks behind China as the second-most attractive country for cross-border investment, according to CBRE’s latest Asia Pacific Investor Intentions Survey.

About 18 per cent of investors surveyed put Australia ahead of other countries as the most attractive country for property investment. Twenty-eight per cent put China first.

Sydney and Melbourne ranked third and fourth respectively in relation to city investor preference, after Tokyo and Shanghai, in the survey.

A bigger majority of investors expected to commit more capital to the Asia-Pacific real estate market in 2014 than did last year, it showed.

The industrial and logistics sector were the most attractive segments for investment, ahead of Australian offices, China’s industrial and logistics sectors and Japan offices.

And the appetite for secondary assets across the region had grown. This was expected to support previously underperforming classes of assets locally, especially in the retail and industrial sectors, CBRE said.

That was likely to include large format retail, sub-regional/neighbourhood shopping centres and some secondary industrial assets, particularly given the vacancy risks facing the office sector.

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