A quick check into some of the best places to live in the world will undoubtedly include Australia, so it comes as no surprise that many Malaysians are choosing to study or migrate there, and invest in Australian property. High net worth individuals often invest in overseas property, but not many in the upper-middle class realise that they, too, can – and should – consider doing the same. However, with popular cities such as Melbourne and Sydney getting (relatively) more expensive compared to its other Australian counterparts, perhaps it’s time to consider other cities that are just as livable and considerably more affordable. We’re talking about Perth.
Perth is the capital, and also the largest city, of Western Australia. It is the fourth most populated city in Australia, with an estimated population of over 2 million living in the Greater Perth area. With plenty of sun, sea and sights, in addition to quality education and exceptional quality of life, we give you 10 very good reasons why you should invest in Perth, Australia.
#1 – Migration
Chances are that you’ve thought about migrating, and if you’re sending your kids to study overseas, the possibility gets even higher. So why not take the plunge and invest in a property overseas? Just like investing in local real estate, placing your investment overseas can help secure some passive income and act as a starting point for your future migration plans.
According to the Economist Intelligence Unit, Perth is ranked #9 in the ‘Top 10 Best Places to Live’ in the world. In Malaysian terms, it’s like living in Petaling Jaya – not too near yet not too far from the bustling atmosphere of Kuala Lumpur. (Plus we have more than enough malls, cafes, restaurants, and recreation outlets to rival those in the city.)
#2 – Education
More and more Malaysian parents are sending their children to study at universities in Australia. For those who are able to afford it, buying a house there makes better economic and investment sense, as the children will be able to stay there while they are studying, the house can be rented out as investment once they complete their studies, and the family will have a house there if they decide to migrate. There is no shortage of popular and prestigious universities in Perth, including University of Western Australia, Curtin University, Murdoch University, and Edith Cowan University, and these young adults will be able to enjoy their formative years independently in a comfortable and constructive environment.
#3 – Holiday Home
Did you know that Perth is the sunniest capital city in Australia? Its location beside the coast, at the intersection of the Swan River and southwest coast of Australia, make Perth a popular holiday destination for tourists, both local and foreign. There are 19 stunning beaches in Perth alone, and include some of the most beautiful in the world, from from the breathtaking Indian Ocean sunsets of Cable Beach to Australia’s whitest beach – Lucky Bay – where even kangaroos can’t resist lounging on the sand. Add to that list the picture-perfect Cottesloe Beach, located a mere 15-minute drive from the city, popular for swimming, snorkelling, surfing and drinking in ocean sunsets with a glass of fizzy, makes Perth the perfect place for a holiday home. If you’re no the beach-going type, the vibrant port city of Fremantle is just 30 minutes away via car or train, where visitors are sure to be charmed by its blend of old and new, culture, history, heritage, buzzing markets, classic colonial architecture, Aboriginal art pieces, and casual street cafes.
#4 – Hedging and Diversification
As mentioned earlier in this article, investing in overseas property is a good way to diversify your portfolio, and can act as a hedge against inflation. This is especially true for high net worth or affluent individuals who are looking to expand their investment portfolio, or simply looking to increase their asset oriented investments. Due to the fluctuating nature of currencies, economic outlooks and political landscape in each region, it may be a safer bet to invest in different overseas properties, which not only promotes regional cash flow but also helps secure your other investments.
#5 – Lifestyle
Besides the cost of living here being highly affordable, there is no lack of culture, arts, and entertainment in Perth, as it is home to the Perth Cultural Centre, which is the heart of the city’s major arts, cultural and educational institutions, along with internationally regarded Western Australian Academy of Performing Arts at Edith Cowan University, from which many successful actors and broadcasters have launched their careers (think Hugh Jackman and Jai Courtney). The biggest cultural festival is the Perth International Arts Festival (since 1953), while annual music festivals include Future Music, Stereosonic and Soundwave which draw thousands of international audiences. There is no lack of entertainment as well, ranging from dog racing, horse races, yatching, and casino gambling.
(Perth trivia: The Heath Ledger Theatre, the largest performance area within the State Theatre Centre, is named in honour of Perth-born film actor Heath Ledger.)
Familiar food also adds to the appeal of Perth, and Australia, in general. You can easily find all sorts of Malaysian food sold here, and if you fancy yourself a good cook, the ingredients you need to whip up an authentic plate of chicken rice or nasi lemak can be easily sourced from Chinatown. Of course, night owls will probably be dismayed to find there aren’t many 24-hour mamak stalls around Perth (if any), but hardcore club-goers will be glad to know that the nightlife scene is well and alive in the city.
#6 – Healthcare
Affluent Malaysians, as well as Singaporeans and mainland Chinese, are opting for Australian healthcare services as an alternative to Singapore medical care. With the Singapore dollar almost at par with the Australian dollar, patients seeking medical care overseas are looking to Australia for quality service at affordable prices, particularly when it comes to specific illnesses that require expert opinions and special care. Perth has 10 large hospitals spread around the metropolitan area, including a specialist children’s hospital and psychiatric teaching hospital. New hospitals are being constructed to replace older facilities, along with one of the biggest private hospitals in Australia, which will greatly increase patient confidence and drive the economy as foreign visitors seek medical attention in Perth.
#7 – New Experiences
For thrill-seekers and adventurous types, Perth offers a whole range of exciting things to do and new experiences to explore. As the capital of Western Australia, it provides easy access to the rest of the state, either by car, train or flight, and offers a host of interesting and exciting adventures unique to anywhere else in the world. Imagine all the amazing stories you’d be able to tell your friends and awesome photos you can post on social media from these wonderful adventures:
- Watch the sun setting over 22 kilometres of pristine white sand whilst catching a ride on a camel train at Cable Beach
- Swim with whale sharks, one of the world’s biggest fish, at Ningaloo Reef, the world’s largest fringing reef
- Take a walk 40 metres above a majestic tingle forest at the Valley of the Giants tree top walk, which is the first walk trail of its kind
- Explore Karijini National Park, which is home to 100 metre chasms with some of the oldest rocks on the planet, cavernous gorges, and inviting pools beneath plunging waterfalls, or scale Western Australia’s second highest peak – Mount Bruce.
- Sample fine wine at the Margaret River wine region, one of Australia’s premier wine regions
- Have a picnic with breathtaking views of the Swan River and Perth city skyline at King’s Park, one of the world’s largest inner city parks
- Marvel at some of the world’s oldest art, by one of the world’s oldest living cultures, at Gyorn Gyorn art sites
- Take a tour or stay overnight at Purnululu (Bungle Bungle) National Park
- Watch dolphins at Monkey Mia, where they have swum into the shoreline every day for the past 40 years
#8 – Organic
Perth is a haven for the organic food-lover and health-conscious folks. Western Australia is well-known for its organic produce, and central Perth is the hub of the organic community, where visitors from around Australia as well as the world search for the best organic food and products. A quick Google search shows you how passionate they are about everything organic, from fresh produce like fruits and vegetables, to food, cafes, and even personal care products. Western Australia also has a climate that is more suited for growing various organic produce, making it the center of Australia’s organic supply.
#9 – Safety and Security
The crime rate in Perth is pretty low (you can actually check out the stats from the Western Australia Police website), but in this case, we’re referring to the risk when buying property. In Malaysia, many developers launch a project and sell units even before construction has begun, and buyers face the risk of shoddy construction work or halfway abandoned projects. In Australia, buyers do not have to worry about that, as developers are required to build then only sell completed projects to buyers. There’s a lot more legal procedures in the transaction process, but the cusp of the matter is that buyers can be assured that their investment property exists, and not just written on a piece of paper.
#10 – Transportation
Basically, only two words are needed to describe transportation in Perth: ‘cheap’ and ‘fast’. Perth has a network of metropolitan public transport, including trains, buses and ferries. There is also an area known as the “Free Transit Zone” which provides zero-fare bus and train trips around the city centre. Perth is also linked by a road network with 3 freeways and 9 metropolitan highways, allowing access to the rest of Western Australia by car or bus. For further journeys, Perth Airport located in the city’s east caters to regional, domestic and international flights, while Jandakot Airport in the southern subsurbs serves for general aviation and charter flights.
So, what do you think? For an idea of why Malaysians invest in overseas property, take a look at our infographic! 😀