NZ burgeoning commercial property market stokes development

Tue, 11 Nov 2014

By Paul McBeth Nov. 12 (BusinessDesk) - New Zealand commercial property prices and sales have been increasing in the past six months, boosted by interest from foreign investors, which in turn has ignited appetite for development in a sector which has been lacklustre since the collapse of the mezzanine finance industry in the mid-2000s. Retail, industrial and office building values are rising at an annual 7.8 percent pace, led by a 16 percent lift in office space, and are worth about $180 billion, supporting the prospect of a sharp increas...

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