A major finance company plans to significantly increase its lending to investors in Australia commercial property as other firms retreat from the market.
Challenger Financial Services Group has announced that it will offer as much as $1 billion (£579 million) in loans to people buying commercial property in Australia.
According to Bloomberg, the firm, which has already provided around $500 million of lending secured by commercial buildings, is seeking to profit as other finance companies are choosing to leave the market.
Bob Sahota, head of fixed interest with the group, told the journal that the business was hoping to benefit from its best ever returns by offering financial support to struggling owners of Australian property.
He said: "The whole strategy is to take advantage of an area that's been deeply dislocated. We've found really good opportunities to be the guys who turn up with a sizeable check and get better terms than we've ever seen in return."
Figures published this month as part of the Knight Frank Global House Price Index showed that the Asia Pacific region had recently experienced the world's highest levels of growth, which could be good news for those with Australian Property.
Posted by Steve Douglas
Challenger Financial Services Group has announced that it will offer as much as $1 billion (£579 million) in loans to people buying commercial property in Australia.
According to Bloomberg, the firm, which has already provided around $500 million of lending secured by commercial buildings, is seeking to profit as other finance companies are choosing to leave the market.
Bob Sahota, head of fixed interest with the group, told the journal that the business was hoping to benefit from its best ever returns by offering financial support to struggling owners of Australian property.
He said: "The whole strategy is to take advantage of an area that's been deeply dislocated. We've found really good opportunities to be the guys who turn up with a sizeable check and get better terms than we've ever seen in return."
Figures published this month as part of the Knight Frank Global House Price Index showed that the Asia Pacific region had recently experienced the world's highest levels of growth, which could be good news for those with Australian Property.
Posted by Steve Douglas
