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Banks steer clear of trend to riskier property assets

Carolyn Cummins The Sydney Morning Herald
Banks steer clear of trend to riskier property assets - Sydney - commercial property


BANKS are still reluctant to wade back into the tough commercial property sector in any significant way until they are confident asset values will show some stabilisation, according to banking analysts.



More Australian companies are meanwhile taking up office space overseas and international buyers are ignoring the strong Australian dollar to buy properties from Australian real estate investment trusts.

Rio Tinto, Fitness First and The Regus Group have joined Macquarie Bank and BHP Billiton as tenants in the Singapore Marina Bay Financial Centre.





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