Australian property tops asian investment wish list

Australian property is at the top of Asian investors' wish lists, according to research from HSBC.

The country is one of the most sought-after property markets among affluent Asians, according to the lender.

HSBC's study, conducted by RFi and involving more than 7,000 individuals across seven Asian countries, found that affluent Asians are likely to favour smaller property markets in Australia, such as Queensland and ACT over the larger markets of NSW and Victoria.

Commenting on the findings, Alice Del Vecchio, Head of Mortgages for HSBC in Australia, said: "HSBC's research found that more than a third (37%) of affluent Asians currently own an investment property overseas with many of them looking to invest further in the next 12 months. Looking ahead, interest in Australia is expected to remain strong so our economy is set to be a key beneficiary as foreign investment activity can help increase the supply of new housing by stimulating construction."