Australia is a hotspot for Asian property investors, according to research from HSBC. The survey of 7,245 wealthy individuals across seven Asian nations revealed that 37 per cent currently own an overseas investment property.
It was also revealed that Australia is the most popular destination among Indonesians, and the second most common choice for Malaysians, Singaporeans and Indians. ABC reports that investors in China and Singapore tended to opt for neighbouring nations, with people from these nations ploughing their cash into properties in Hong Kong and Singapore, respectively.
However, it was Australia that came out on top, with property investors from abroad flooding in. Among the Indonesians who owned an investment property overseas, 19 per cent had one in Australia. This beat both Singapore and the USA as the top destinations.
Meanwhile, 26 per cent of the overseas property investors from Malaysia held a home in Australia, although 36 per cent of those surveyed had purchased a property in Singapore.
It was also found that 19 per cent of Singaporean overseas property investors had real estate in Australia, along with 18 per cent of Indians, ten per cent of those surveyed from Hong Kong, nine per cent of Chinese people and five per cent Taiwanese.
Alice Del Vecchio, HSBC Australia’s head of mortgages, noted that the main reason Australia is so popular with wealthy investors in Asia is its relatively close location to their nations, as well as the perceived high quality of life. Indeed, 71 per cent of survey respondents ranked Australia higher than the US or the UK for these factors.
Speaking to ABC Online, she said: “Good education, good health systems, all of this came through in the survey, we know from our existing customers, even things like clean air and the living standards are really important to these customers.”