Should You Buy Commercial Property In A Global Crisis?
Times may be tough in commercial property amid COVID-19, but it isn’t all doom and gloom. There are still opportunities for commercial property investors in Australia.
Even when the economy grinds to a halt, there is still one thing that never changes: Premium and A-grade assets is, and will, always be highly sought after.
There is a large amount of pent up demand for top, investment grade properties in Australia currently and, even with the current pandemic, we don’t see this slowing down anytime soon.
All investors, particularly those who are not in the market right now, should be positioning themselves to get on the front foot as soon as the right opportunity opens up.
Remember, the pain from COVID-19 will be temporary – focusing on the future will ensure you come out of these times successful and thriving.
Now Could Be a Good Time To Buy
Whether the economy is up or down, property provides a more stable investment return compared to the share market and should be a key consideration in your investment strategy, if it isn’t already.
But now, more than ever, could be a golden opportunity.
The unprecedented low interest rate environment and share market volatility has already seen a continuing shift in investments towards commercial real estate markets to increase return. With these rates looking set to remain this way for some time, commercial buyers with the capacity to make some moves now should strongly consider doing so.
Where Are The Best Commercial Property Opportunities?
As the property market continues to evolve and change, it’s important to maintain a good understanding of the market and where the best opportunities lie, using the best data available. This can be difficult to do alone – an expert buyer’s agent can provide the latest research and information available.
Currently, aspects of the industrial property sector are booming; logistics and distribution spaces are seeing huge demand as many businesses move towards online shopping. Other storage facilities and smaller warehouse properties are also being looked upon favourably. As the perceived need for Australian manufacturing has risen, predictions show the need for these properties will continue well beyond COVID-19.
In these times, negotiation is more important than ever as there are many factors to consider – not just for now, but for the future. It is important to work with an experienced buyer’s agent who understands the market and can advise and act on your behalf.
A buyer’s agent will also save you the time of having to manage the constant back and forth of negotiations, the paperwork and other complexities.
With regards to any bans on open inspections, agents are still conducting inspections by private appointment only, ensuring all social distancing measures are being adhered to.
How a Buyer’s Agent Can Help
Buying commercial property at any time will require certain steps and processes, all of which can be achieved with the help of an experienced Buyer’s Agent.
Before you buy any commercial property, it’s crucial you develop a property strategy which considers all opportunities and risks, and uses the latest data to inform decisions.
And remember, when there is an opportunity, negotiation is key…and having an expert acting for you is more important than ever.
At Broadway Property, we can help guide you through this process every step of the way. Contact us for a free initial discussion about your needs.
Contact us for a no obligation discussion about your needs.
Managing Director, Broadway Property
Director, Broadway Property