Towering inferno builds!

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The towering inferno engulfing global offices is building nicely.


Private investor sales of commercial real estate over the next year could become the trigger for a reset in valuations as the property sector adjusts to higher interest rates, according to Citi analysts.

With major institutional buyers and sellers in a stand-off, the transactions needed to properly gauge an anticipated fall in prices, especially for CBD office towers, are so far lacking from the market.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.