Malaysian investment in Australian properties to rise by 15%

Malaysian investments in the Australian property market are expected to rise by 15 percent this year, from RM125 million in 2011.

According to Steven Cheah, Director of Property Talk, investment in Australia for the past two years was consistent at about RM125 million per year.

"This was due to the stronger Australian dollar. But since March, the Australian currency had weakened slightly and so we are anticipating more property investments in Australia," he said.

Cheah noted that Melbourne is the leading destination for Malaysian property investment funds.

"This is because many Malaysians have relatives who have migrated to Melbourne, where you can find a variety of Malaysian restaurants."

"According to the latest research by Australian Property Monitors, of the major capital cities, Melbourne has been the standout performer for house price growth over the last five years, with prices increasing almost 30 percent in just 15 months."

He added that Melbourne and Sydney were always listed in the top three most liveable cities in Asia by ECA International, a research house in Hong Kong.