Around the world numerous indices have informed us about the strength of the commercial property
market and the strong recovery it has made since the global economic downturn.
And in New Zealand, the latest figures are no exception, with the Investment Property Databank (IPD) informing prospective buyers that overall the sector recorded an 8.1 per cent positive return in the year to September. This revival has been led by the retail market, IPD said.
Indeed, the retail sector's annualised total return for the year to September was 7.7 per cent while the industrial sector returned 7.1 per cent and office returned 4.6 per cent.
"The New Zealand property market has experienced a relatively mild downturn in comparison to other major property markets. The UK and US experienced the greatest decline in total return as they were adversely impacted by the spill over from the global financial crisis
," the firm's report added.
- Wednesday 24 November 2010