Overseas buyers hunting commercial property
Commercial property continues to be a hot commodity with new data showing 56 per cent of sales this year have been to foreign buyers.
During the first quarter of 2022, there were $8.69 billion commercial sales across 593 transactions (more than $2 million) according to Ray White Commercial.
The bulk of activity came from NSW followed by Victoria. Together, these states accounted for 74 per cent of all volume.
The largest foreign investors include the United States and Canadian groups, along with Asian nations Hong Kong, China, Singapore and South Korea.