commercial rents lunacy

Commercial Property rents just keep climbing , despite drop in interest rates and a quieter market for shopowners. Rent of a shop in Lakeside SC for one tenant for example , for limited space up by a whopping $120,000pa to close to $400k. Rest of Joondalup rents are up , swag of properties for lease, tenants leaving because of rising rents, shops vacant as a result and the same song is being sung throughout the commercial areas. Some very painful lessons about to be doled out to owners poorly advised by real estate agents and commercial agents.

Crippling greed will lead to a massive correction I am afraid - not a case of if , but when. Most large shopping centres in hands of clueless super funds and consortia.