Malaysian Property Market Overview
Current trends in property purchase in Malaysia are characterized by investment either in the capital city of Kuala Lumpur or within the new coastal resorts. City investment is growing in line with increased direct foreign investment from China, the US and Japan. A surge in economic activity (predicted increase in worker numbers of 27.9% by 2013 over 10 years) has brought with it a high demand for quality commercial and residential real estate lettings to serve an ever growing expatriate community employed in and around the city. Off-plan properties are being sold to international property developers with impressive guaranteed rental yields of between six and ten percent.
Meanwhile, growth in the tourism sector has prompted the birth of new resorts, particularly in coastal areas just south of Kuala Lumpur around Port Dickson. Boosted by a strong tourist industry, property purchasers are experiencing impressive returns on their buy-to-let and off-plan investments. These holiday resorts also offer great potential for second home buyers seeking an exotic overseas home in the sun.
The Malaysian government has recently relaxed home ownership rules for foreigners and introduced tax incentives which contribute to make this property market an easier and more beneficial option for foreign ownership. Further details are available on www.imi.gov.my.
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