More than one third of affluent Asians have overseas property investments, with Australia being the number one destination regionally according to new research from HSBC.
In the survey a total of 37 percent of survey respondents said they already own overseas property, and many also indicated they were planning further investments during the next 12 months.
HSBC’s international property investment research was conducted by RFi involving more than 7,000 affluent individuals across seven Asian countries to understand their international property investment appetite. HSBC defined affluent as being those with investible assets of more than S$200,000.
Commenting on the findings, Alice Del Vecchio, Head of Mortgages for HSBC in Australia, said: “HSBC’s research found that more than a third of affluent Asians currently own an investment property overseas with many of them looking to invest further in the next 12 months.
“Looking ahead, interest in Australia is expected to remain strong so our economy is set to be a key beneficiary as foreign investment activity can help increase the supply of new housing by stimulating construction,” she said.
Del Vecchio credits Australia’s appeal amongst Asian investors to its proximity, quality education and lifestyle.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
Recent stories you may have missed:
MUST READ: Supply and demand issues in Bangkok
Thailand crisis impacts foreign buyers
Quality of Life in Bangkok remains unchanged
London project targets Thai buyers
If you have a property story you want us to publish email: andrew@allproperty.com.sg