Perth is on the verge of a significant private infrastructure surge, with billions of dollars of investment in hotels, apartments, and shopping centres about to kick off, according to a new research report from Momentum Wealth, a Perth-based property investment advisor.
The research report outlines Perth’s massive pipeline of projects, either under construction or committed to, including 15 major hotels, more than 40 large-scale apartment projects, and $4bn worth of upgrades to metro shopping centres.
Damian Collins, managing director of Momentum Wealth, said the looming private infrastructure investment presents lucrative opportunities for property investors.
“While these developments will create tens of thousands of jobs and buoy the Perth economy in the coming years, many of these projects will also enhance amenity in local communities, which will help to drive demand and prices for nearby housing,” Collins said.
“Although some of these apartment, hotel and shopping centre projects have started, the research report shows that the large majority of works are still ahead of us and will be completed over the next 2-4 years.”
Investors who act early and take advantage of this investment surge are likely to benefit the most, according to Collins.
Investors should target projects with tangible benefits
While Momentum Wealth’s report, Perth Private Infrastructure 2017, details the unprecedented building boom ahead, Collins said investors need to be vigilant when making their investment decisions.
“Hotel developments are typically limited to the Perth CBD, and while they will help stimulate the local economy by creating jobs, these projects won’t have a direct impact on property markets,” Collins said. “Instead, the research report explains that investors should focus on metropolitan apartment and shopping centre developments that deliver more tangible benefits to local communities by way of new cafés, shops, restaurants and cinemas.”
The research report highlights that many shopping centre expansions. These include main-street dining and leisure precincts to ensure such areas remain active after 5pm. Some suburban apartment projects include café and retail offerings at the ground floor that are open to the local community.
“New amenities that come with these projects will help buoy values of nearby housing as more people [will] want to live in these areas. It is these types of projects that investors need to consider when buying their next investment property,” Collins said.
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