Interest rates, commercial property value to rise in Australia

14:10, September 07, 2010      

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Australian interest rates and commercial property values would go up over next five years, a leading economist said on Tuesday.

Chief economist Frank Gelber from the Australia's industry research, analysis and forecasting services provider, BIS Shrapnel, predicted that future growth in Australia would lead interest rates to increase.

Despite a rise in rates, Gelber said the investments on commercial property market would have "a lower risk, higher prospective return."

"We're looking at rents and property values doubling in Sydney and Melbourne over the next five years."

Sydney and Melbourne are the two largest cities in Australia.

Source: Xinhua

(Editor:祁澍文)

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