Aussie office deals down the most since H108

Singapore

DEALMAKING in Australia's office market has plunged by the most since the global financial crisis as owners hang on to assets that are among the highest-yielding in the region.

Commercial property transactions in Australia fell 57 per cent to US$7.5 billion in the six months ended June 30 from a year earlier, according to Real Capital Analytics, Inc. That's the biggest drop since the first half of 2008 and the steepest decline among Asia's top five investment markets, the data showed.