Real Estate & Economic News in Malaysia from Propertyshowrooms.com

Malaysia expected to keep interest rates at the current level

Fri, 12 Nov 2010 00:00:00 GMT

The Malaysian central bank is expected to hold interest rates at their current level in order to support its economic growth.

Bloomberg reports that while the country has enjoyed a robust increase in its economy for the first half of the year, the outlook for 2011 remains uncertain "given external developments".

The news is likely to interest individuals with an interest in buying property in Malaysia, with it expected to have a knock-on effect on the real estate market.

Earlier this month, governor Zeti Akhtar Aziz announced that interest rates are at "appropriate levels" to curb inflation, although concerns have been raised that not enough is being done to prevent other asset bubbles forming.

"While Malaysia is not experiencing a general property bubble, targeted pre-emptive measures are appropriate to moderate the increases in property prices that are evident in selected locations that are speculative in nature," Mr Zeti said last week.

Malaysian property market to benefit from economic and tourism revivals

Mon, 31 May 2010 00:00:00 GMT

The Malaysian property market could be set to benefit from the economic recovery in Asia, it has been claimed.

Property Abroad has suggested that the real estate market in the destination will benefit from exiting its short recession and burgeoning tourism market.

Malaysia has always been a favoured destination for tourists in Asia and around the world and as such, could lead to a resurgence in overseas property investors.

"Regional tourism is the investors' best friend because it gives them the opportunity for high-yield holiday lets and sometimes even longer-term holiday lets," the website stated.

Furthermore, the market could receive a boost from the current political troubles being experienced in Thailand, with potential investors looking for a more stable country to buy property in.

Earlier this year, PrimeLocation.com reported that the government in Malaysia is doing a good job attracting British buyers to the country.

Initiatives like the Malaysian My Second Home Visa programme and the lack of capital gains tax when selling a property make investing in the country a viable option for many.

Malaysian property market needs to do more to secure foreign investment

Wed, 3 Feb 2010 00:00:00 GMT

The domestic property market in Malaysia will do well in 2010, but more needs to be done to attract overseas investors to the country, it has been claimed.

Malaysian national news agency Bernama has reported that the MIDF Amanah Investment Bank has suggested the residential property market will thrive, driven by increasing demand in the medium-high sector.

However, the bank believes that greater efforts are required in order to secure foreign investment in the country, as currently, foreign buyers in Malaysia are able to benefit from tax incentives and MSC status benefits.

"Our survey with key developers shows purchasing interest remained high, with take-up rates of new projects at an average of 70 per cent just from private previews or the first few days of the launch," Bernama quoted MIDF as saying.

Meanwhile, a report released by research company RNCOS stated that Malaysia's tourism sector is set to grow by nine per cent between 2009 and 2012.

Malaysia's property market set for growth in 2010

Fri, 29 Jan 2010 00:00:00 GMT

Property in Malaysia has been given a positive outlook for 2010 by one expert.

Malaysian newspaper the Star has reported that investors could see a five to ten per cent increase in house prices in the country.

However, James Wong, president of the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia, remains cautious, saying that a significant jump in prices was not expected.

"Condominiums and apartments are currently selling well and landed property prices, which had held through the economic crisis last year, are expected to grow this year," Mr Wong said to the paper.

Economic recovery will be the biggest factor influencing property market performance and Malaysia's GDP is expected to climb two to three per cent in 2010.

Meanwhile, Mr Wong believes that many developers that postponed property launches last year would not do the same in the coming months, adding that investors could take advantage of a five per cent drop in prices last year.

Malaysian Industrial Development Finance recently highlighted the improving economic outlook as a key factor in attracting potential investors.

Malaysia tipped for recovery

Thu, 29 Oct 2009 00:00:00 GMT

Malaysia has been predicted to see further property market recovery soon, it has been noted.

Property Abroad reported that housing and local government minister Datuk Seri Kong Cho Ha has expressed optimism about the near future as the economy improves.

Speaking at the recent National Property and Housing Summit 2009, he said: "Prices of houses are expected to see further upside, driven by huge liquidity in the economy as well as further rebound in residential rent."

Mr Ha also said the overall economic revival around the world would benefit the country's property market.

The portal stated that Malaysia could offer a number of advantages for UK residents, with legal documents written in English and no inheritance tax.

Earlier this month, chairman of Regroup Associates Christopher Boyd wrote in the Kuala Lumpur-based Star Online that the country has good long-term prospects.

He said this is the case as Malaysia has a low population and rich resources, a combination making it attractive to immigrants from heavily-populated neighbouring countries.

Malaysia property market 'beginning to recover'

Sat, 8 Aug 2009 00:00:00 GMT

The property market in Malaysia is beginning to show signs of recovery following the global recession, it has been claimed.

Speaking to the Business Times, managing director of real estate valuation firm Khong & Jaafar Sdn Bhd Elvin Fernandez said that initiatives from developers have helped the market to avoid collapse in the first half of 2009 after it suffered for the majority of 2008.

"We believe property transactions will start to move upwards given time," he told the news source, news that may interest those considering investing in property in the country.

Mr Fernandez added that it is important that the supply of homes is regulated according to demand, as failing to do would result in the formation of housing bubbles, which would have a negative effect on the market if they were to burst.

The Global Property Guide for 2009 revealed last month that average rental incomes for real estate in Malaysia are more than nine per cent.

Malaysia property market 'remains steady'

Wed, 8 Jul 2009 00:00:00 GMT

Malaysia's property market has managed to weather the global economic storm, according to an international study.

The independent Global Property Guide for 2009 placed the country in ninth place out of a total of 91 territories, indicating that its housing market remains relatively stable.

Average rental incomes for Malaysia are more than nine per cent and property company DSR Asset Management highlighted the benefits of investing in housing in the archipelago island of Langkawi.

Located off Malaysia's west coast, the destination is described as have a "particularly benign climate and stunning environment", with white sand beaches, five star resorts, mountains, good shopping, rainforest, sports activities and coral reefs.

The island was designated a Unesco world geopark in 2007 and development has been carefully controlled as a result, with direct flights from major cities expected to push up its property prices.

A recent article on the Choices website asserted that property in Malaysia offers UK investors "excellent" value for money because of current favourable exchange rates.

Tourism and travel may stagnate or decrease

Tue, 13 Jan 2009 00:00:00 GMT

Tourism and travel may well stagnate or even decrease in 2009 says an executive of one of the leading travel and tour companies in Malaysia. Reliance Pacific Bhd CEO Datin Irene Gan shares her views...

Crisis A "Golden Opportunity" For Islamic Banking

Mon, 12 Jan 2009 00:00:00 GMT

(AFP)--The global economic crisis has handed the Islamic finance sector a "golden opportunity" to show it is a better alternative to capitalism...

Malaysia central bank says more stimulus measures may be needed

Wed, 31 Dec 2008 00:00:00 GMT

Malaysia is unlikely to slip into recession despite slowing exports, but the economy may require another round of stimulus measures, the central bank chief said in comments published Wednesday...

Investor sentiment likely to remain fragile next year

Fri, 12 Dec 2008 00:00:00 GMT

Investor sentiment likely to remain fragile next year Kuala Lumpur: Investor sentiment will likely remain fragile next year amid concerns of developments in the United States and the global...

Malaysia will not be insulated from dismal global outlook

Wed, 3 Dec 2008 00:00:00 GMT

KUALA LUMPUR: The Malaysian Institute of Economic Research (MIER) may be revising its forecast of 3.4% gross domestic product (GDP) growth for next year to less than 3%. According to executive directo...

CIMB Bank lowers lending rates

Tue, 25 Nov 2008 00:00:00 GMT

CIMB Bank Bhd and CIMB Islamic Bank Bhd will reduce their base lending rate (BLR) and base financing rate (BFR) by 25 basis points to 6.5% respectively with effect from Dec 1...

Property players hope for govt measures to boost sector

Wed, 12 Nov 2008 00:00:00 GMT

Property players are hoping the Government will announce some measures to boost the local property market at the National Property and Housing Summit 2008...

MSC Malaysia companies? revenue up RM17 billion in 2007

Thu, 11 Sep 2008 00:00:00 GMT

Prime Minister Datuk Seri Abdullah Ahmad Badawi is pleased with the progress of MSC Malaysia which currently houses 2,170 MSC Malaysia-status companies, up 19 percent from 2006...

Land swaps helped cut debt

Wed, 10 Sep 2008 00:00:00 GMT

JOHOR BARU: The state government has taken measures to reduce its outstanding debts to the Federal Government amounting to RM841.13 million, Menteri Besar Datuk Abdul Ghani Othman told the state legis...

India-Malaysia bilateral trade to reach USD 16 bn by 2012

Tue, 9 Sep 2008 00:00:00 GMT

Kolkata, Sep 9 : Total bilateral trade between India and Malaysia stood at $4.09 billion from January to May this year against $2.94 billion in the same period last year. The amount is expected to go...

Malaysia offers investment opportunities

Wed, 2 Apr 2008 00:00:00 GMT

Overseas property investors could find Malaysia a potentially lucrative market, according to a media report.

Forbes has included the Asian country in its list of nations that could offer favourable investment conditions during the ongoing global economic slowdown.

Malaysia's economy was praised for being one of the fastest-growing in the region, as well as having low consumer prices and low inflation.

This means that many people in the country are enjoying a reduced cost of living and increased amounts of disposable income.

As a result, there will be growing demand for high-quality housing in the most desirable areas.

Forbes commented: "Although the worldwide real estate market is softening as credit reservoirs dry, some spots are poised for growth."

This comes after Amberlamb stated that the Malaysian economy is likely to see growth of 5.8 per cent this year.

Prospective buyers were also told that Malaysia offers a number of other attractions, including a robust housing market.

Malaysia recommended to property investors

Tue, 1 Apr 2008 00:00:00 GMT

People who want to invest in a long-haul destination have been advised to consider the Malaysian property market.

The Asian country was recommended by independent analyst Amberlamb, which said its economy is currently very strong.

According to the organisation, it is likely to build on this positive performance and enjoy economic growth of 5.8 per cent this year.

Property investment buyers were also told that Malaysia offers a number of other attractions, including a robust housing market.

Amberlamb commented: "It's an incredibly strong stand alone market with excellent levels of local demand and affordability."

The group added that government is actively aiming to attracting foreign property buyers by offering a favourable tax regime, benefits and rights.

Furthermore, it said Malaysia is becoming increasingly popular among international holidaymakers, which means it offers the potential to generate good rental returns.

According to the Association of International Property Professionals, British investors spent £24 billion on foreign property last year.

Malaysia looks to attract foreign buyers

Mon, 9 Jul 2007 00:00:00 GMT

Efforts are being made to attract foreign buyers to the Malaysian property market, with the government spearheading a new promotion designed to encourage foreign developers to enter the market.

To this end polices are being implemented that are conducive to the addition of foreign developers in Malaysia with the view of creating favourable economic conditions for future building and infrastructure development.

One expert, Tan Sri Liew Kee Sin, managing director of SP Setia Bhd is confident in the appeal of Malaysia to foreign investors, in light of the government's efforts to attract overseas developers.

"Developers should take the cue from the government’s actions to step up marketing and promotion efforts to capture a bigger share of the global real estate market," he said according to the Malaysia Star.

"The government also needs to accelerate efforts to create a more favourable business climate," he added.

Meanwhile the Malaysian government has outlined plans to make the country an international property hub through collaborative efforts with the private sector.

Malaysian property attracting foreign investors

Wed, 20 Jun 2007 00:00:00 GMT

Malaysia's residential property sector is experiencing growing demand from foreign investors, according to experts.

Speaking at a property seminar, Christopher Boyd, executive chairman of Regroup Associates, said that the country's economic growth was likely to sustain the country's real estate market, the Edge Daily reports.

Meanwhile, Research managing director Datin Adila Lim Ying, said that high consumer confidence in the country and low interest rates were both important factors influencing the country's property market.

"As long as the residential segment has sustainable growth, I view it as a positive if it slows down a bit so that no bubble is created," she remarked.

Bloomberg recently reported that the Malaysia prime minister Abdullah Ahmad Badawi intended to relax its investment rules to encourage greater levels of foreign investment.

The news agency stated that the government recently removed capital gains tax, which had previously been seen as a barrier to overseas investors.

Malaysian property sector showing strong returns

Fri, 1 Jun 2007 00:00:00 GMT

Improved economic performance across the country has helped fuel the Malaysian property sector boom over the first quarter of the year, it has been revealed.

Malaysian second finance minister Tan Sri Nor Mohamed Yakcop (TSNMY) revealed that the economy grew by 5.3 per cent between January and March.

The official also announced that all real estate sub sectors had grown over the period, including commercial and residential.

The findings support a recent survey of property developers in Malaysia, which found that 22 per cent of respondents said they had received more sales enquiries since the introduction of new government policies aimed at boosting the sector.

Acts such as the removal of property gains tax had contributed to 18 per cent converting purchasers into buyers.

Transactions in the property market reached almost 65,000 over the first three months of the year, valued at around 15 billion Malaysian dollars, Tan Sri Nor Mohamed Yakcop added in his economic announcement.