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Tuesday, June 10, 2008

Malaysian real estate 'still attractive': Consultancy

MALAYSIAN property remains attractive to foreign investors due to its "freehold" status, said global property consultancy DTZ.

"You can't find such properties in Hong Kong and China. Not only do institutional investors find this an attractive deal, it is relatively cheap as well," said DTZ North Asia chairman David C Watt in a recent interview.

Fuelled by good rental growth projections, Watt said the only drawback was that the market was relatively small compared with Japan, China and India.

"The only problem is that it's quite small. If someone has a big allocation for Asia, will they choose to learn about Malaysia because they can spend it easier in the other markets," he asked.

Brian Koh, executive director of investment for DTZ Nawawi Tie Leung Property Consultants Sdn Bhd, said he expects the local property market to remain robust for the next 12 to 18 months.

"The underlying fundamentals of the commercial market is still very strong while buyers' demand for high-end residential remains," he said.

By New Straits Times

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