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Increased interest from Indonesian investors in the Australian residential property market will boost the local economy, according to one property management firm.
Nyko Property director Bill Nikolouzakis said although much of the focus had been on Chinese investment in Australia, Indonesia was an emerging market.
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Mr Nikolouzakis said factors that attracted Indonesian interest in the local market included asset diversification, Australia’s stable political and judicial systems, a strong property market, and the opportunity to migrate.
Nyko has revealed plans to open two offices in Indonesia. “It is a market, we believe, that has real potential in terms of attracting foreign investment into Australia because of the high demand there for good quality investment properties,” he said.
Sydney-based Loan Market broker Katharina Hartanto moved to Australia in 1984, and generates about one-fifth of her business from Indonesian clients.
“I currently have several investors buying property here, and I’m busy filling out applications at the moment,” she told The Adviser.
Ms Hartanto said that Australia was the most popular choice for Indonesian investors.
“Since the government can still allow foreign investors to buy property here, there are so many people that have started to buy in Australia,” she said.
“Indonesian investors also look to buy in Singapore and the US, but Australia is the most popular.”
[Related: Brokers best placed for foreign investment boom]
