City opportunities

MEDIUM density developments in the central city provide ideal opportunities for foreign investment in Perth’s residential fabric for a number of reasons, according to the Capital Perth report.

“Firstly, good quality housing of the type being developed in central Perth may be expensive by WA standards, but is comparatively cheap by international measures,” the report said.

“As well as a pleasing environmental setting, these units have a locational advantage for access to Perth’s travel, health and education services.

“Finally, as Commonwealth regulations require at least 50 per cent Australian ownership of residential properties, it is difficult for foreign investors to own single dwellings.”

The report said inner city living particularly gained favour among international investors in the 1990s.

Almost 50 per cent of the newest and largest residential developments are foreign owned.

According to the report, the majority of the tenants in the South East Goderich Street area are from Malaysia, Indonesia and Singapore. Many are students.

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