INVESTING IN WA REAL ESTATE
Recent years have seen a boom in the Perth property market due to several factors including population growth and the ongoing investment in WA ’ s energy and natural resources industry . With Westpac projecting an annual price growth of 8 % in Perth ’ s property market in 2023 , followed by an additional 8 % next year , many investors view real estate as the more secure form of investment .
A local developer , Bo Wang , has recently partnered with Urbane to undertake two luxury developments in the beautiful neighbourhood of Dalkeith . “ Locale ” is the first development currently under construction . This unique site has enabled Urbane to design a five-townhouse development , providing home buyers , downsizers , or the astute investor , an opportunity to secure prime real estate in one of Perth ’ s riverside locales . We ask Bo for his journey to property development and his thoughts on the current state of the real estate market in WA .
“ Whilst there have been significant increases in building costs in the last few years , there are still great opportunities in the Perth Real Estate market for price appreciation . The property will adjust to meet the current gaps .
With the demand for rental properties increasing , there is also a need to build more homes to attend to the shortage in the rental market . I also am conscious current tenants are also potential new home buyers .
I prefer to focus my portfolio in high value land areas as they will yield a higher return when the market appreciates .”
Bo Wang