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Colliers International boss Mark Synnott says the current upturn is the strongest he’s seen in 27 years
August 12, 2014 – 09:39am,
The head of this country’s largest commercial real estate agency believes commercial property’s bull run could continue for another three years.
In a Double Shot interview with interest.co.nz, Mark Synnott, the chief executive of Collier International’s New Zealand arm, said the current market upturn was the strongest and most sustainable he had experienced in his 27 years in the industry.
“Between the late 80s and the mid-90s it was really tough. Way, way tougher than the GFC (global financial crisis),” he said.
“We started to come out of that toward the late 90s and then we hit the Asian crisis.
“Then we had that rush of blood to the head in the mid-2000s and then we’ve gone through the GFC.
“But this is the strongest period of sustainable growth. The growth we had in the early to mid-2000s wasn’t sustainable,” he said.
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