Asian investors in Perth

Asian investors in Perth

PERTH, Australia (AFP): Singapore, Malaysian and Indonesian investors have poured more funds into Perth's central business district than all Australian sources in the past two years.

Singapore interests spent A$135 million (US$100 million), Malaysians $80 million and Indonesians $18 million for a total of $233 million, according to a survey by West Australian property agent Richard Ellis.

Australian sources invested $213 million, with $146 million coming from institutions, $52 million from individual investors and $15 million from developers.

Thailand invested $2.1 million and China $1.9 million, the survey added.

The number of Indonesian tourists had increased 67 percent in the past three years and Malaysian figures were up 28 percent. He forecast Indonesia would become a major Perth investor in the next few years.