Business
Can Australia’s commercial property market keep riding high? – The Australian Financial Review
So far, there have been very few distressed sales, but bankers warn that this situation could change in coming months.
Indeed, why are there virtually no distressed sales of commercial properties, even though so many of the the country’s small- and medium-sized businesses have seen their revenues evaporate as a result of the pandemic?
One senior banker told me there was an easy explanation for the extraordinary resilience of the commercial property market to date. “The market mechanism has been suspended,” he explained.
“There was some distressed selling in the immediate aftermath of the GFC, but a lot of it t…
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