Indonesians interested in Australian property
Indonesians interested in Australian property
JAKARTA (JP): At least US$7.2 million in foreign exchange will
flow to Australia soon as more Indonesians purchase property
there.
In cooperation with PT SuryaPrapta Indah, a private Australian
property company, Central Equity Homes, will market in Jakarta on
Saturday some 60 Melbourne townhouses and apartments at prices
ranging between US$104,000 and $202,000.
A SuryaPrapta executive, Steve J.S., said that Indonesia is
the main market for Australian property after Hong Kong and
Singapore.
"The Australian government is currently encouraging people to
live in the center of cities," he said.
He added that his company has recently succeeded in selling 38
apartment units located in central Melbourne through a two-day
exhibition here. The apartments, priced at about $150,000 each,
are being developed by Central Equity, a publicly-listed
developer.
Steve said that in the coming exhibition, Central and his
company will offer 16 units of Park Side Terrace, a townhouse
near the Yarra Bend River and 45 units of Studely View Garden
apartments. Both properties are located in Clifton Hill.
According to Australian regulations, only half of the
apartments built in Australia may be purchased by foreigners.
Sales of commercial and industrial property in Australia last
year reached $5.68 billion, more than double the $2.44 billion of
the previous year.
Meanwhile, office building sales surged from $644 million in
1992 to $4.7 billion in 1993, he added.
According to Steve, property buyers in Australia comprise
property trust (40.5 percent), occupants (20.8 percent), domestic
investors (13.2 percent), developers (12.1 percent), institutions
(10.7 percent) and foreign investors (2.7 percent).
"Most Indonesians usually buy Australian property to use it
for the residence of their children studying there and some
others lease it," he said.
He said that Indonesians are interested in Australian property
because prices there are much cheaper than property in Singapore
and Hong Kong. (icn)