Singapore property platform iProperty Group, will utilise its international arm for the launch of a marketing campaign giving south east Asian buyers direct access to a a luxury property development in the western Australian capital city of Perth.
iProperty says The Towers at Elizabeth Quay has seen 60 per cent of its units snapped up since its January launch, with Raeon International Limited the sole property marketer.
iProperty Group General Manager and Chief Business Development Officer Sean Tan says Asia-based property buyers love Australia; whether for lifestyle, studies or retirement plans.
"Australian property is hugely appealing," Tan says.
"iProperty International will market The Towers at Elizabeth Quay right across south east Asia on our international platform."
The campaign will be supported by iProperty's International Property Expo and private events in Malaysia and Indonesia.
Tan says the campaign will reach an audience of buyers benefiting from attractive exchange rates.
"The Singapore dollar, for example, has risen against the Australian dollar by roughly 13 per cent over the past 24 months,” he says.
The Towers at Elizabeth Quay is developed by Far East Consortium (FEC), one of Asia’s largest property developers, with a strong presence in Australia.
The high-end Perth waterfront development is a mixed-use precinct that will feature a Ritz-Carlton hotel, along with residential and retail components.
Located within Perth’s Central Business District, with scenic views of the Swan River, 400-hectare Kings Park and Botanic Gardens, The Towers is slated to be one of the city’s iconic developments, offering buyers 1-, 2- and 3-bedroom apartments and penthouses starting from AU$763,000.
Tan adds Perth properties are providing good returns, with rental yields at 3.8 per cent.
According to CoreLogic and Moody's Analytics, property prices in the city will rise 5.08 per cent next year.
"Elizabeth Quay is a part of the Government of Western Australia’s plans to revitalise the city," Tan says.
"The waterfront development will reconnect Perth city with the Swan River, creating a new precinct for recreational activities for locals and tourists. It will also extend the Perth CBD with a focus on the river, creating a more connected and vibrant city.
With access to millions of interested Asia-based buyers, Tan adds selling The Towers at Elizabeth Quay across Southeast Asia will demonstrate the value of iProperty's international market strategy especially the value the platform can bring developers and developments,
"Our marketing channels form a branding platform with events and listings, EDMs, banner advertisements and features in video and magazines provide reach and access to the right buyers,” Tan says.
According to the Australia Foreign Review Investment Board, Southeast Asians are top investors in Australia property.
iProperty Group’s Asia Property Market Sentiment Report (APMSR) for H1 2016 confirms continued interest in the country. The recent report indicates Australia as an overseas investment destination among respondents in Malaysia, Indonesia, Hong Kong, and Singapore.
Respondents in Singapore registered the strongest interest, with almost all indicating Australia as a key investment destination.
“Given Southeast Asia’s appetite for Australian residential property and iProperty Group’s investor reach in this region, we are confident that The Towers at Elizabeth Quay will see strong sales," says Raeon International Managing Director Terence CheungThe Towers at Elizabeth Quay.
In other news, iProperty International has added investment opportunities in Japan and Thailand, as well as a further 35,000 Australian property listings.
The site was launched in 2015 with listings of new residential property in Indonesia, Malaysia, Singapore, and Australia. The website has also been enhanced with responsive design to allow for smoother navigation across various devices, catering to Asia’s growing number of mobile users.
To ensure that investors are equipped with the necessary information when investing in Australia, iProperty has also launched its first white paper, focusing on Australia’s property market.
The white paper provides insights into current trends in Australia’s property market with a shortlist of Australia’s property hotspots, why these hotspots make good investment destinations and includes analysis of rental yields for property in these regions plus legislative changes affecting foreign property investors looking to invest in Australia’s property market.