Australia is the 6th largest country in the whole world, and is a continent all by itself. Australia is composed of 2 mainland territories and several minor territories. It is also composed of 6 states, namely Tasmania, Queensland, New South Wales, Victoria, South Australia and Western Australia.
In recent years, Australia has become a popular tourist destination, owing to numerous natural and man-made resources in the country. Divers truly enjoy Australia’s Great Barrier Reef, the biggest coral reef system in the entire world. There are also a lot of open spaces that tourists enjoy, such as beaches and the popular Outback. World-famous flora ad fauna can also be found in Australia. These include marsupials, such as the koala bear and the kangaroo; monotremes, such as the platypus; exotic birds, such as the kookaburra; and a variety of plants, such as eucalyptus. Meanwhile, man-made creations are also popular, such as the Sydney Opera House located in Sydney and the Royal Exhibition Building found in Melbourne.
The commercial real estate industry in Australia is an attractive market for both local and international investors. Both offices and the industrial sector of the economy are quite prominent in the Brisbane area. They are also quite prominent in the areas of Melbourne and Adelaide. The retail market is also very prominent in the area, and is also popular in Sydney and Perth.
There are several reasons why the Australian commercial real estate market remains a strong market even in present times. One of the major factors is the stability of the political and economic environment of the country. As opposed to other areas throughout the world, Australia’s capitalist economy has been undergoing a steady growth. In recent years, there has also been note of an increase in tourism in the area. This increase in tourists has resulted in an increase in the demand for various forms of short term accommodations, such as hotels, pubs and hostels, to name a few. This has further spurred the booming of the commercial real estate industry in the country.
On the business side of the commercial real estate industry, a lot of investors are choosing to invest in commercial property in Australia because of the hassle-free commercial industry in the country. Businesses are easily started and the costs necessary to operate a business remain relatively low. Also, its proximity to the continually growing economy of the Asia-Pacific region makes it attractive to investors hoping to get a piece of the action. A lot of multinational corporations are choosing to invest in commercial properties in Australia to be able to reach an even bigger Asia-Pacific market.
Foreign investors are also gradually becoming more interested in the commercial property market in the country. A study in 2004 revealed that the commercial property market of Australia became the 7th among the most attractive commercial real estate markets all over the world.
Australia’s mix of rich natural resources and a highly urban community makes it an ideal location for a thriving commercial real estate industry. See for yourself!