Wealthy Australian investors have a positive outlook on the property market, a survey from Colliers International has revealed.
The 2014 Global Investment Sentiment report sought responses from 522 of the world’s most active real estate investors.
One in five of the participants manage property portfolios worth more than $5 billion dollars.
The survey revealed only 9 per cent of Australian or New Zealand respondents expected conditions to deteriorate in the next 12 months.
This high confidence is expected to translate to higher investment activity.
In the Pacific region, 72 per cent of investors are planning to expand their portfolio in 2014, compared to only 56 per cent last year.
Investors also appear less risk-averse than last year, with 64 per cent planning to take on more risk in 2014.
By contrast, 70 per cent of investors reported being not prepared to take on more risk in 2012.
“This is consistent with investment trends recorded so far this year, with Australian-based investors becoming far more active,” the report states.
According to the Colliers International research director Nerida Conisbee, a majority of Pacific investors were investing locally, with 75 per cent buying within their own country.
Moreover, major Australian cities are attracting interest from international investors.
“The global cities in which investors are most likely to invest are Sydney (55 per cent), followed by Melbourne (12 per cent) and Brisbane (4 per cent),” Ms Conisbee said.