Perth draws Indonesian funds

Australia is the number one destination for Singaporean, Indonesian and Malaysian property investment funds sent overseas, Peter Thng of HSR Realtors told a joint Property Council of Australia and Chinese Chamber seminar recently.

Mr Thng of said that Australia was regarded as number one in quality by overseas investors.

Perth is the most popular destination in Australia for Indonesian funds, third for Hong Kong investments and second for Malaysian and Singaporean funds, after Melbourne.

Mr Thng also identified a number of features in investment properties commonly sought by Asian investors.

Investors sought property in prime suburbs near CBD locations or property near universities for their children.

WA Property Council Executive director Mr Joe Lenzo said that there was much to learn from Mr Thng’s presentation.

“Mr Thng offered a thorough overview of investment opportunities with Asian investors, which gave us a better insight into the thinking of an important market for the Australian property industry,” Mr Lenzo said.

“It was pleasing to see that quality Australian property is regarded more highly than its competitors, which include Canada, China and the UK.”

House and land investments by Asian investors in Australia were commonly in the range of $190,000 to $380,000.

Land areas of between 450 and 1,000 square meters were most popular, Mr Thng told the seminar.

Two or more bathrooms are considered desirable for house and land purchases, as are a double garage, a security system and light coloured interior decorating.

A popular selling feature for units or apartments to Asian investors was a feature such as a loft.

Mr Thng said that those developers with agencies in Asia had an advantage as they had better contacts with potential investors.

Full service was sought from agents to ensure ‘hassle free’ investment, covering legal, financial and taxation products.

Asian investors geared properties at levels of up to 80 per cent. Some investors borrowed the funds in Singapore at rates of 4.25 per cent.

Residential properties were more popular than commercial properties, having lower entry levels.

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