Australia a top destination for SEA house hunters

By Nikki De Guzman: Australia has emerged as the top destination among residential and commercial property buyers and investors in Southeast Asia, according to PropertyGuru’s Q2 Regional Property Affordability Survey, which polled 1,282 respondents across Singapore, Malaysia, Thailand and Indonesia.

Three in every 10 respondents picked Australia as prices continue to soar in their home markets. 
 
“As Southeast Asia becomes more affluent, increased property buying, selling and investing will inevitably drive property prices up and creates a ripple effect where investors will set their sights beyond their borders for cheaper alternatives... Australia, being a perennial favourite, continues to be the hottest spot for the region at this moment with increased overseas buyer activity,” said PropertyGuru co-founder and Group CEO, Steve Melhuish.
 
Australia is believed to have higher rental yields, better capital appreciation (46 percent) and more affordable prices (55 percent). The survey results also support current buying trends helped by the country’s weakening dollar, low interest rates and growing investor confidence.
 
Moreover, demand for property down under comes from rising dissatisfaction in the local markets. Three in every four respondents anticipate that overpriced properties will continue to increase resulting in on-going interest in overseas investments.  
 
However, in Singapore, 40 percent of respondents do not expect further price increases in the next six months due to January’s cooling measures. 
 
The survey – a quarterly benchmark for property affordability across PropertyGuru’s four markets, takes into account overall satisfaction, future price perception, intention to purchase property and perceived government effort. 

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