Australia on world property agenda
AUSTRALIA was one of three countries highlighted as having good growth prospects at a meeting of property experts from around the world recently.
Christie's agent Ken Jacobs has just returned from three weeks of meetings in Spain and the US and said that the consensus was that confidence was returning and that property investors were looking for new markets to spend their money.
"Stuart Schweitzer, vice chairman, global markets strategist for J.P. Morgan, commented on the extraordinary high number of clients with significant cash reserves looking for ways to deploy their funds," Mr Jacobs said.
"Mr Schweitzer focused on Australia, Brazil and Mexico as being good growth areas."
Mr Jacobs said that the growing positive sentiment was echoed by top-end real estate agents in Beverly Hills, New York, Sydney, London and Switzerland.
"The consensus is that whilst no one is predicting a boom, the world recovering, with a few exceptions, is under way with confidence returning to markets," he said.
Mr Jacobs said that the feedback from all major international markets was that buyers from China would play an increasing role.