Malaysia tipped for recovery

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.