ABC News (Australia) published this video item, entitled “Why empty offices could be bad news for your super | The Business | ABC News” – below is their description.
The shift to remote working that started at the onset of the COVID-19 pandemic has been great for many people’s lifestyles, but not so great for the value of office buildings. Billions of dollars have been wiped off the value of city towers worldwide in the past year, as interest rates rise. Prices are expected to keep falling – and that could be bad for our retirement savings as superannuation funds are big investors in this space. Pressure is mounting on the financial regulator APRA to be tougher on super funds and how they value their unlisted assets, like commercial property, toll roads and stakes in tech startups. An independent review found APRA was not being proactive enough, which could lead to super fund members losing money from overly “inflated” balances.
ABC News (Australia) YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
