International investors have earmarked Australia as a prime country in which to buy assets as the world recovers from the impacts of the global pandemic with Sydney seen as a target for its stable economy and high-quality buildings.

In the latest Asia-Pacific cross border investment data from CBRE, it reveals that after a muted year in 2020, outbound capital from Asia surged 69 per cent year-on-year in 2021 to $US54.6 billion ($73.53 billion) surpassing 2019’s pre-pandemic investment volumes.

Closely following the United States at number one, Australia has moved up three ranks since 2019, from 5 to 2, as the market with the most outbound investments from Asia. Sydney was the fourth preferred city in the overall region.

Mark Coster, CBRE’s pacific head of capital markets, said Australia has benefitted as investors seek out markets that provide growth, scale and a stable business environment.

“We have seen increasing interest across all asset classes, particularly office, industrial and retail, as well as strong inquiry from groups looking to invest in real estate debt,” Coster said.

From a global perspective, Singaporean capital dominated Asian outbound investment, accounting for six out of the top 10 outbound transactions. Singaporean investors deployed US$32 billion abroad, marking a significant increase of 164 per cent year-on-year.

A development likely to attract overseas-based investors is the Central Park DUO retail site which sits in the fast-growing tech precinct at the southern end of Sydney’s CBD.

The 1090 square metre retail strip is anchored by international retailers Starbucks and Kathmandu, who are supported by food and beverage operators and essential retailers. The site has price expectations of more than $25 million.

The asset is set to benefit from the evolution of the nearby Tech Central Precinct, which is undergoing significant rejuvenation and gentrification, with high-profile developments anchored by software giant Atlassian.