Malaysia’s strong economy to see a 6% growth this year
The continuation of high government spending, along with strong domestic demand Malaysia is fast becoming a “Tiger Economy” with Key Business and Government figures working towards solid economic improvements.
The increasing demand for luxury properties such as condominiums in Malaysia is due largely to the nation's socio-political stability, accommodating policies and a positive image globally. In an interview with Malaysia’s The Star, Mervin Chow from OSK Investment Bank said that “On a regional basis, Malaysia was easy for foreigners to buy property, whether condominiums or landed housing.”
“Many Asian countries prevented foreigners from owning land as well as restricted them in buying apartments or using leasehold arrangements but Malaysia allows foreign investors to own or invest in residential units without having to seek the Foreign Investment Committee's consent.” Mr Chow said
In furthering his comments Mr Chow added that “The luxury residential market in Malaysia is still relatively affordable compared with some other Asian countries. The property price gap in Malaysia has widening further, especially in the luxury condominium sector, which makes Malaysia's luxury condominiums an attractive proposition. For many years, Singapore has had a high volume business travel inflow, so makes it makes this comparison even more attractive.”
Justin Wood, the Corporate Director of Economist Intelligence Unit said “The Government’s focus on the development services sector, as well as incentives in the financial, property investment and corporate sectors, were also factors towards positive growth.” adding that Malaysia “had progressed from a low income country to a high income one, with foreign direct investment accelerating growth”
In conclusion Malaysia’s economic growth and increased earnings, property investment is sure to provide an excellent opportunity for high rental returns especially from the high level, long term executive sector.
The increasing demand for luxury properties such as condominiums in Malaysia is due largely to the nation's socio-political stability, accommodating policies and a positive image globally. In an interview with Malaysia’s The Star, Mervin Chow from OSK Investment Bank said that “On a regional basis, Malaysia was easy for foreigners to buy property, whether condominiums or landed housing.”
“Many Asian countries prevented foreigners from owning land as well as restricted them in buying apartments or using leasehold arrangements but Malaysia allows foreign investors to own or invest in residential units without having to seek the Foreign Investment Committee's consent.” Mr Chow said
In furthering his comments Mr Chow added that “The luxury residential market in Malaysia is still relatively affordable compared with some other Asian countries. The property price gap in Malaysia has widening further, especially in the luxury condominium sector, which makes Malaysia's luxury condominiums an attractive proposition. For many years, Singapore has had a high volume business travel inflow, so makes it makes this comparison even more attractive.”
Justin Wood, the Corporate Director of Economist Intelligence Unit said “The Government’s focus on the development services sector, as well as incentives in the financial, property investment and corporate sectors, were also factors towards positive growth.” adding that Malaysia “had progressed from a low income country to a high income one, with foreign direct investment accelerating growth”
In conclusion Malaysia’s economic growth and increased earnings, property investment is sure to provide an excellent opportunity for high rental returns especially from the high level, long term executive sector.
posted by Obelisk International at 12:26 pm
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