When it comes to Australia, cities like Sydney, Melbourne, Victoria, and Perth tend to come to mind. Perth, in particular, being the capital of Western Australia, is listed in the top ten list of the world’s most liveable cities. In fact, some are so familiar with the city to the point where it gets mistaken as the capital of Australia!
Perth’s relaxed pace of life, warm and friendly atmosphere, natural and culturally rich environment, solid economic prospects, top-notch education standards and unparalleled medical services are just some of the many factors that have propelled Perth into becoming one of the top ten most liveable cities in the world.
Albeit quaint, West Perth shouldn’t be underestimated – it is one of the best places to live or invest in. Read on to discover what gives Perth its hidden edge!
The rich natural environment of Australia’s Plant Kingdom
West Perth is a small but well-equipped area, accounting for only 10% of the entire Perth Central Business District (20 square kilometers). So how exactly did it earn the title of plant kingdom? The most attractive part of Perth is its natural environment, coupled with the pleasant Mediterranean climate which is very suitable for the growth of plants – more than 6,800 kinds of plants can be found here.
Perth is home to a number of beautiful botanical gardens and parks. The famous Kings Park and Botanic Garden houses a 400.6-hectare park, with two thirds of it being natural virgin woodland, planted amongst 2,000-year-old trees, dense wildflowers and native jungles, earning its position as the central green space in Perth.
With a botanical park of this scale in a small area that is no different from a forest park, Perth is truly a hidden gem waiting to be appreciated. Take a walk in the park, have a picnic, and bask in the sun in the lovely green city of West Perth and enjoy the breeze of fresh, clean air!
Upcoming redevelopment plans
As a result of the COVID-19 outbreak, Perth has become an ideal place to live for many Australians overnight, and even keyword searches for Western Australia soared by 91 per cent at the beginning of the year. West Perth has naturally benefited from this, welcoming more and more people to live in the area.
Australia’s largest supermarket chain Woolworths sees opportunities for future growth in West Perth as the number of people moving into West Perth continues to increase. Its development arm, Fabcot Pty Ltd, has submitted a development application to the capital city council Construction of a $26.5 million four-story plus basement complex in the old parking lot of Princess Margaret Hospital.
The supermarket plans to use about a quarter of the 14,078 square-metre floor area for supermarket development, while the remainder will be used for retail and hospitality leases, underground car parks, childcare centres and medical centres. Another high-profile redevelopment project in West Perth is the $227 million Subi East redevelopment project, of which the aforementioned supermarket scheme is part.
This redevelopment project will create jobs for the local area, while also creating multiple public areas for local residents, outdoor activities and housing for new residents.
Providing employment opportunities through education
Australia is famous for its high quality education, globally recognized for having the most advanced and innovative education and training system in the world, attracting a large number of international students yearly. As of 2019, the country has attracted 720,150 international students, showing an increase of 11% year-on-year.
Perth is home to the University of Western Australia, one of the five universities located in Perth, which is ranked 92nd in the QS World University Rankings 2021, and is a university sought after by international students. Other universities in Perth include Murdoch University, Curtin University of Technology, Edith Cowan University and University of Notre Dame. Students will normally move to Perth in order to have a seamless academic experience.
However, the Edith Cowan University campus, originally located in Mount Lawley will be relocated to the Perth CBD, in the west of Yagan Square. This is a major A$695 million project launched in the city centre by the City of Perth’s state and federal governments, and is the first comprehensive university campus in the heart of Perth.
When the university opens in 2025, it is expected to attract more than 9,200 students and staff from the faculties of Technology, Arts, Business, Law and Cybersecurity, and this number is expected to grow by more than 11,000 in 2034.
In addition, the project is expected to inject $150 million into the local economy, creating jobs for thousands of locals and more than 3,100 jobs during the construction of the university. This transformative project will bring a whole new face to the university and the city.
Optimistic investment potential for West Perth’s economic development
West Perth’s redevelopment plan, coupled with the move of Edith Cowan University into the city centre of Perth and the high concentration of higher education institutions, will inject more vitality into the area, stimulate the economy, and drive local real estate.
According to the latest economic assessment report by Moody’s, an internationally renowned rating agency, Western Australia will, by virtue of its favorable investment environment and effective economic stimulus measures, lead the important regions in Australia’s economic development in the next 2 to 3 years, and will also make Western Australia’s economic development more significant. Thus, if you are planning to invest in property in West Perth, you can expect a decent return on investment!
That sums up the undiscovered investment advantages of West Perth. If you plan to immigrate to Australia, consider purchasing a property in West Perth! Whether you’d like to invest in Australia as a pension plan, need a place to study or just as an investment to enjoy life – it is one of the best choices you can make.
Curious to invest in West Perth? Drop your inquiry below, and the Western Australian real estate experts at Juwai IQI will help you solve your Australian investment or immigration questions!