Property syndicates grow quickly

Property Investment Research said small investors continued to invest in property syndicates because of their high returns. PIR said starting yields were now around eight per cent, although this has dipped from about 9.5 per cent three years ago. Syndicates work by pooling money to buy things like commercial, industrial and retail property. According to research by PIR, the unlisted property syndicate market grew by nearly 15 per cent to $9.9 billion from 2003 to 2004.