
Changing face of Sydney's property market
Steve Urwin, Jones Lang LaSalle’s Australia head of tenant representation, outlines how lingering rental rates in Sydney's commercial property market are changing deal structures.

Sydney is the financial heart of Australia, which drives the local property market. Tenants tend to pay about double the rent of an equivalent property in Melbourne. Sydney’s market is also a lot more volatile. The major tenants in the city tend to be Australia’s largest banks and the accompanying legal and financial services firms that make up the national financial industry.
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