Foreign investors return to Perth

Overseas property investors are retuning to Australia and especially the region of Perth, according to the latest reports.

An increased number of overseas investors from the UK have joined others from China and south-east Asia in purchasing property in the area of Western Australia (WA).

"Perth's property market has been widely noticed because of its growth and, because of the resource boom, we are needing specialised employment and that is attracting people to WA because of our lifestyle and the job opportunities," said Erit Livshitz, from Mark Hay Realty Group general manager, according to The West Australian.

Some experts have said that the trend of buyers is for property to live in part-time, with a view to moving out to Perth to live in the future.

Marcus Gilmore, managing director of MLG Realty, highlighted the strength of overseas investment.

Mr Gilmore pointed to the fact that out of the AUS$22 million (£9 million) of waterfront penthouse properties sold by his company recently, 65 per cent were bought by overseas property investors.

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