Investors in Australian real estate unlikely to be put off by wildfire crisis

Singapore

INSTITUTIONAL investors - including those from Singapore - are unlikely to be put off from investing in Australian real estate despite the months-long devastating wildfires which have razed a wide swathe of the south-eastern part of the country.

Some six million hectares of forest, bush and parks have been burned mainly in New South Wales (NSW), Victoria and South Australia.

NSW, the worst-hit state, accounted for almost five million hectares and last month the air quality in Sydney exceeded hazardous levels several times with the city being shrouded by smoke.

Victoria has declared a state of disaster, and NSW …