Cross Border Real Estate Investments and Commercial Office Property Market Performance: Evidence from Australia

Kwabena Mintah (), Woon-Weng Wong () and Peng Yew Wong ()
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Kwabena Mintah: RMIT University
Woon-Weng Wong: RMIT University
Peng Yew Wong: RMIT University

International Real Estate Review, 2020, vol. 23, issue 2, 211-234

Abstract: The purpose of this study is to evaluate the impact of cross border real estate investments on the performance of the direct commercial property market in Australia. Using an autoregressive distributed lag (ARDL) model, factors including volume of cross border real estate investments, real gross domestic product (RGDP), office stock, and vacancy and net absorption rates are examined for their impact on total returns. The results indicate that traditionally established long-term drivers, including RGDP, office stock, and vacancy and net absorption rates, are still relevant. It is found that cross border real estate investments have impact on the performance of the direct commercial office property market in Australia. The results and findings would help property investors, developers, policymakers, and stakeholders in decision making around property investments. This research is an initial study that focuses on the impact that cross border real estate investments have on the performance of the direct commercial/office property market in Australia.

Keywords: Commercial Property; Office; Cross Border Real Estate Investments; ARDL; Total Returns. (search for similar items in EconPapers)
JEL-codes: L85 (search for similar items in EconPapers)
Date: 2020
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