Commercial properties in Australia have been valued at less than replacement cost. This means that it has not been a proposition for new development to occur. It has also been cheaper to buy into real estate through underpriced REITs than to invest in property in any other way. A shortage of commercial property will be the result.
The law of supply and demand is starting to become a force that should take over from the panic following the GFC. All eyes are now focussed on the potential breakup of the Centro empire. The results there will be reflected in the value of VPG. I believe that this will have positive implications for VPG in the next two months.
Commercial properties in Australia have been valued at less than...
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