Sydney office investment surges
Annual investment in Sydney office assets has more than doubled compared to the previous year, reaching $4.5 billion in 2021.
According to Knight Frank, the office market recovery has been better than anticipated following a rush of investment activity in the final quarter of 2021, with $2.2 billion injected into office buildings in Sydney’s CBD.
Lease volumes were also significantly higher in 2021, with more than 300,000sqm leased compared to 90,000sqm in 2020.
Technology and financial services were the two sectors that drove most of the demand in 2021, accounting for over 60 per cent of all lease deals.