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Saturday, January 12, 2008

Malaysia a favourite among foreign property investors

MALAYSIA, alongside Singapore and Thailand, is one of the top choices for foreign property investors, according to the Asia Property Trends Survey conducted online from Nov 15 to Dec 31, 2007, by Asia’s leading property portal network Group.

Condominiums are the most preferred property for foreign investors

Its executive chairman Patrick Grove said in a statement that the survey results confirmed the fact there is a lot of foreign interest in Malaysian property. “These foreign buyers have big budgets and are actively looking for high-end property investment opportunities here,” he said.
The survey revealed that 55% of the respondents indicated they were looking for high-end properties in the US$100,000 (RM327,157) to US$500,000 price range, with 15% keen to invest in property ranging from US$500,000 to US$1 million.

About 95% of those surveyed said they intend to purchase property within the next 12 months.
“This definitely augurs well for Malaysia’s property market as well as the Malaysia My Second Home (MM2H) Programme, launched by the government to attract skilled, affluent, foreign property investors to Malaysian shores,” Grove added.

According to the survey, condominiums are the most preferred property type, with 55% interested in completed projects and 39% favouring newly launched projects. Location, price and the country’s foreignerfriendly policies were some of the important factors when making a property investment decision.

Meanwhile, the Internet is considered the tool of choice in hunting for viable properties, with 95% using it to look for properties available for sale, 56% to research on market trends, 50% to get the latest property news, 33% to research developers and 23% to search for real estate agents.

“We are pleased to learn that an overwhelming proportion of foreign investors use the Internet as their primary property search tool due to the rich and up-to-date content, accessibility,
convenience and speed it offers,” Grove said, adding that the group is committed to further enhancing its website’s content and product offerings to provide better service.

By theSun (by Yap Yew Jin)

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