THE Singaporean property buyers who have dominated the Australian market for the past three years - filling the void left by high-profile Japanese players - are now looking at their investments with special interest.
At the end of Australia's worst property downturn, and with the retail market being the first to emerge from recession, Singaporean and other Asian buyers may be wondering whether it is the time to trade or hang on for long-term reward.
There is much to consider before sellers reach for the telephone number of their favourite real estate agent Down Under.
Growing vacancy levels in the capital city CBDs have ushered in reduced rentals aligned to increased incentives and, consequently, lower capital values across the board.
According to Chesterton International's Asia Pacific Property File, office vacancies in Perth (presently 29.5 per cent), Brisbane (14.25 per cent) and Adelaide (10 per cent) should decrease by June 1994, although Sydney and Melbourne will show a marginalincrease in vacancy levels with projects still being completed in these markets.
The retail market has now overhauled the office sector as the preferred option and recent sales of major shopping centres across Australia highlight the shift.