Skip to content
Subscriber Only

Foreigners Expanding Australian Property Options, Invesco Says

Foreign investors, who traditionally focus on Sydney and Melbourne office buildings, are turning to properties in other cities amid rising competition for assets, according to Invesco Ltd.

Global pension and sovereign wealth funds are increasingly investing in malls and warehouses in Brisbane and Perth, said Ian Schilling, head of Australian real estate at the Atlanta-based asset manager. That follows a drop of about 50 basis points in capitalization rates for premium office towers as competition from foreign and local investors climbs, he said.