Malaysia to become property "hub"

Article Date : 02 July 2007

Malaysia is on track to become a property hub in the coming future following the implementation of government plans designed to make the country an international property location.

Through a unique public/private sector initiative the Malaysian government will work to promote the country as a high-profile international property hub, inviting investors to channel funds into the property market at large.

Highlighting low property prices in Malaysia in comparison to destinations such as London for example, Datuk Seri Effendi Norwawi, minister in the prime minister's department, asserts that there are attractive opportunities in Malaysia.

"The idea is to make Malaysia a destination for foreigners to buy properties," he told StarBiz.

"Property prices here are so much cheaper than in places such as London and Singapore.

"We should show that we have real value for money.''

Experts at Regroup Associates state that there is increased foreign interest in the Malaysian property market from investors in Asia, Australia and Europe, with high demand for commercial as well as residential accommodation, reports The Edge Daily.

Malaysia to become property "hub"

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