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Malaysian market has 'scope for high-end properties'

Article Date : Monday, June 11, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

The Malaysian state of Sabah could offer a number of opportunities for foreign investors, with demand for high-end properties expected to increase, it has been claimed.

One of the country's most popular tourist destinations, the state has the potential to draw a number of foreign investors, the Malaysia Star reports.

Lai Voon Hon, executive director of development firm Ireka, said: "If Sabah can continue to attract foreigners and Malaysians from the peninsula to set up their second homes in the state, there will be scope for high-end homes and apartments,"

There are presently a number of Japanese, South Korean and Taiwanese investors who have entered the market, while the government is actively promoting the country as a place to purchase second homes, he added.

Deputy tourism minister Datuk Donald Lim Siang Chai recently said that the country's travel agencies and property developers need to consider how the Malaysian property market can attract more visitors to the region, Bernama reports.
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