The latest Global Market Perspective report from Jones Lang LaSalle has highlighted a return to recovery in the worldwide property market.
According to the report's findings, the Asia-Pacific market in particular could be set for growth during the remainder of 2012.
Simon Storry, JLL Australia head of office investments, told the Property Council of Australia: "Across office markets, as in the retail and industrial sectors, a slowdown in demand for space is largely offset by a limited construction pipeline."
He added that with a global hunt for yields continuing, Australian property assets are proving popular, although there is significant differentiation between the top and bottom of the markets, meaning owners of low-value property could benefit from reinvestment and refurbishing in many instances.
Meanwhile, the proposed Olympic Dam project in Adelaide was recently cited as offering the possibility of a 35 per cent increase in demand for office space in the city if approved.
Posted by Steve Douglas
