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Tuesday, October 6, 2009

Zerin: British keen on properties here

Malaysian properties have received a good response from overseas especially in the UK, says local property agent Zerin Properties.

Its chief executive officer Previndran Singhe said the positive response has prompted him to set up a branch there by the end of this month.

"British buyers are one of the top buyers in 2007 and top 2 buyers last year. There has been an increase in interest and surveys have shown that more and more British residents want to set up second homes in Malaysia," he said in a recent e-mail interview with Business Times.

Zerin, which was formed in 2002, has offices in Kuala Lumpur, Sydney, Singapore and New Delhi.
"Other than the fact that economic activities are now Asian centric, the weather and the less expensive lifestyle is definitely a pull for them.

"Moreover, with Malaysia being the only country in Southeast Asia that allows freehold ownership of landed properties and that we are tier to real estate transparency with Japan at a fraction of the cost, we are indeed attractive," he said.

Other reasons include the pricing levels of the properties and quality of the development.

Singhe said the demographics of the type of foreigners wanting to buy second homes in Malaysia were "generally 40-50 years old, to invest or to have second home, hip and happening and wanted a superb lifestyle".

"Malaysia is also familiar to them. It is an English speaking nation, prices are reasonable and of course, Malaysia Truly Asia," he said, adding that his company targets the elite to set up second homes here with assets from RM750,000 onwards.

He said besides the British, Singaporeans are also keen to buy Malaysian properties.

Foreigners favour buying their second homes in the Klang Valley such as the Kuala Lumpur City Centre (priced from RM1.5 million onwards), Mont Kiara (RM500,000 onwards) Bangsar and Damansara Heights (RM1 million onwards), Sentul Raya (RM450,000 onwards) and other selected locations like Country Heights and Gita Bayu.

Singhe said Zerin plans to sell RM100 million worth of Malaysian properties per year as the market in London is picking up.

By Business Times (By June Ramlee)

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