Real Estate & Property Investment News in Malaysia from Propertyshowrooms.com

Economic recovery boosting Malaysian property market

Thu, 4 Mar 2010 00:00:00 GMT

Speedy

is expected to have a significant effect on the country's property market, it has been suggested.

Datuk Abdullah Thalith Md Thani, director general of Valuation and Property Services Department at the Malaysian Finance Ministry, said that the demand for property was returning.

The growing demand for produce and increasing cost of things such as rubber and crude oil is also helping recovery.

He added: "The property market for this year will improve as the number of transactions involving new housing and construction activities increases."

Furthermore, Mr Abdullah Thalith said that the government would continue in its attempts to make the

Malaysian property

market appealing to foreign investors.

He cited the liberalisation of the Foreign Investment Committee as one particular measure being used to increase buyer confidence.

According to property website Prime Location, the government in Malaysia is doing a good job attracting British buyers to the country.

With initiatives like the Malaysian My Second Home Visa programme and the lack of capital gains tax when selling a property, investment in the country is seen as a viable option for many.

Malaysian government are helping make the country an attractive investment prospect

Mon, 8 Feb 2010 00:00:00 GMT

The Malaysian government's keenness to attract foreign property buyers is helping to make the country an attractive investment prospect for many, it has been reported.

According to UK property website Prime Location, recently Malaysia has been drawing a "steady stream" of British buyers looking for retirement, investment and holiday homes.

Government initiatives such as the Malaysian My Second Home Visa programme and the lack of capital gains tax when selling a property have made it a good investment prospect, the website reports.

Meanwhile, news has emerged that the Foreign Investment Committee is making plans for a deregulation of investment guidelines to make it easier for overseas purchasers.

Malaysia has plenty of natural appeal, with large forests, a warm climate and unspoiled beaches.

It is also one of south-east Asia's most developed countries, boasting rapid economic growth in recent years.

Homesgofast.com has put the country in its top ten places for overseas investment in 2010.

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 could be an attractive investment opportunity in 2010

Tue, 19 Jan 2010 00:00:00 GMT

Rising demand and an improving economic outlook are likely to be key factors in attracting investors to Malaysia, it has been claimed.

A report from Malaysian Industrial Development Finance (MIDF) shows that these factors are likely to make property investment in the country an attractive proposition for many in the coming year.

But MIDF warned that the withdrawal of cheap credit, absence of attractive promotions and favourable regulations may have a detrimental effect in the long term.

"Sales demand for residential properties is expected to remain buoyant as investors continue to deem it as one of the more liquid hedging asset. Speculators are also taking advantage of the current market sentiment to lock-in on gains," they said.

A survey of key property developers in the region found that none of them were planning on slowing down the rate at which they were developing new property.

Earlier this month the Malaysian government decided to limit the reintroduction of capital gains tax to properties sold within five years of their purchase date, something that Malaysia's Property Investment Organisation claimed was indicative of its favourable view towards property investment.

Malaysian government has 'favourable' view towards investment

Thu, 14 Jan 2010 00:00:00 GMT

The Malaysian government's decision to limit the reintroduction of capital gains tax (RPGT) on real estate is indicative of the favourable view it holds towards property investment, it has been claimed.

Malaysia's Property Investment Organisation (MPI) has voiced its approval over the new plans.

The move means that the only properties that will now be taxed are ones sold in under five years of their original purchase date.

In an interview with the Overseas Property Professional website an MPI spokesperson said that they were pleased that the government had taken on board feedback given to them from within the industry.

"This policy still reflects the government's pro-investment [position] and yet would safeguard the Malaysian property industry against speculation. As serious property investors usually take a longer view of their investment horizon, the amendment to the RPGT would appeal to this target group of investors for the industry," he said to the property website.

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

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.

Eastern growth 'set to boost Malaysian property'

Sat, 10 Oct 2009 00:00:00 GMT

The economic and population growth of Asia is set to drive property values upwards in Malaysia in the years ahead, it has been predicted.

Writing in the Kuala Lumpur-based Star Online, chairman of Regroup Associates Christopher Boyd stated that in view of the large increases in both people and economic output to come from India and China, Malaysia will benefit from its geographical proximity.

"Malaysia, as an under-populated resource-rich country, will become increasingly attractive", he suggested, arguing that property prices will rise as large-scale immigration comes in the form of increasingly educated and affluent workers from other Asian countries.

A three-bedroom bungalow within one hour's drive of Kuala Lumpur can be bought for RM250,000 (GBP46,000), Mr Boyd stated, while plots in rural areas are also available at bargain prices.

In August of this year, developers Eastern & Oriental said the market was holding up well in the country, despite the world economic climate.

Malaysian real estate developers reveal plans

Mon, 24 Aug 2009 00:00:00 GMT

Two more real estate developers have announced plans to take advantage of the improving conditions in the Malaysian property market.

Selangor Dredging has confirmed it will launch a project consisting of houses and apartments in Taman Melawati and a condominium development in Petaling Jaya before the end of March 2010.

Teh Lip Kim, Selangor Dredging's managing director, told Bernama there had already been strong interest in the properties in Petaling Jaya.

She added: "We will conduct our projects prudently and be sensitive to the prevailing market scenario. At present, we are already seeing some improvement in the demand for properties."

Meanwhile, Eastern & Oriental has revealed it intends to launch real estate projects worth MYR 4 billion (GBP 678 million) in Kuala Lumpur and Penang over the next three years.

It explained that demand for property in Malaysia is strong despite the economic downturn and that sales had been good at its existing developments.

News of the projects comes just weeks after Mah Sing Group announced plans to build a residential development on a 46-acre site close to Kuala Lumpur in order to take advantage of the full-scale recovery in the Malaysian property market it expects to see in 2010.

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.

Malaysia real estate investment 'value for money'

Wed, 1 Jul 2009 00:00:00 GMT

Malaysia real estate investment offers Britons good value for money because of a favourable exchange rate between the ringgit and the pound.

This is the claim of a new article on the Choices website, which states that an increasing number of opportunities are opening up in the country in light of the price and its popularity as a holiday destination.

"At today's rate of 5.85 Malaysian ringitts to the British pound, Malaysia represents excellent value for both the holidaymaker and the property investor," the piece says.

In addition, it notes that properties of equivalent value are generally of better quality in Malaysia than in Europe, while the government has introduced tax breaks to incite investors.

Further announcements regarding the liberalisation of regulations surrounding foreign property ownership in the country are expected to be made by prime minister Datuk Seri Najib Tun Razak at the Invest Malaysia 2009 conference this week, according to the Star Online.

Malaysian property 'is undervalued'

Wed, 1 Apr 2009 00:00:00 GMT

Property in Malaysia

is the most undervalued in the South-East Asia region, it has been claimed.

Such a comment was made when discussing the country's market by Christopher Chadd, head of research at developing market support firm Property Frontiers.

Mr Chadd said that Malaysia has held up well in the face of the credit crunch, although its economy has not fully escaped the effects of the world economic downturn, with the housing market and economic growth seeing a "slight" slowdown.

Despite this, he stated, the country remains a "fantastic" one to invest in, adding: "We believe the market remains undervalued compared to the rest of South-East Asia."

Mr Chadd noted the country still contains strong features that are favourable to its property market, including ones popular with Britons such as the climate, safety, good infrastructure and transport links to Australasia.

Property magazine Homes Overseas recently identified Malaysia as the

top country to invest

in during 2009.

Malaysia's border area tipped for property

Tue, 31 Mar 2009 00:00:00 GMT

Those looking for the best places to invest in property in Malaysia should look to the area near to Singapore, it has been suggested.

Chris Chadd, the head of research at emerging markets support firm Property Frontiers, said that while Kuala Lumpur is good, there are places where better returns can be achieved, one being Johor Bahru.

He stated that because this area is only 15 minutes north of Singapore and many people are commuting into the city state to work, the area has "a lot of potential".

Mr Chadd noted: "Property can be purchased in Johor Bahru for a tenth of the price in Singapore."

He suggested that the country will see more investments as a result of new low-cost flights there when the world economy recovers.

In November Air Asia X launched a service between Stansted and Kuala Lumpur, with one-way prices staring at £99.

Malaysian Tourist Arrivals Increase In December

Fri, 16 Jan 2009 00:00:00 GMT

(RTTNews) - Tourist arrivals into Malaysia rose 9.2% year-on-year in December, a report by Tourism Malaysia said Friday. The report said December recorded the highest number of tourist arrivals of 2....

Malaysia Airlines scraps domestic fuel surcharges

Tue, 13 Jan 2009 00:00:00 GMT

KUALA LUMPUR, Malaysia -- Flag carrier Malaysia Airlines said Tuesday it will scrap fuel surcharges for domestic flights as part of efforts to boost air travel amid an economic slowdown. The airline s...

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...

Monitoring ringgit speculation

Mon, 5 Jan 2009 00:00:00 GMT

RINGGIT speculation abroad should be monitored so that Malaysia does not become a victim of opportunistic groups seeking to gain from the fall of the local currency, Datuk Muhammad Salleh Majid said...

Sime Darby gets govt nod for Labu LCCT plan

Mon, 5 Jan 2009 00:00:00 GMT

Sime Darby Bhd has received the government’s approval to proceed with the proposed private low-cost carrier terminal (LCCT) project in Labu, Negri Sembilan...

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...

Drop in building material prices benefits contractors and Govt

Mon, 22 Dec 2008 00:00:00 GMT

THE slump in building material prices will not only benefit contractors but also save the Government a significant amount of money. In the middle of this year, the Government agreed to include the...

Malaysia market 'still attracting investors'

Fri, 12 Dec 2008 00:00:00 GMT

Overseas investment in the Malaysian property market is remaining strong despite the current economic climate, it has been suggested.

Chief executive officer of TH Properties Zaharuddin Saidon made the claim at the launch of a new property organisation in the country, The Edge Daily reports.

Speaking at the event, Mr Saidon was quoted as stating that despite some investors reconsidering their position due to the credit crunch, many are still choosing to purchase property in the country.

"This [the foreign participation] will be in high-end [residential properties]," he remarked, adding that the relative safety of the Malaysian property market is attracting cash-rich investors.

Buyers who have yet to decide about making a purchase in the country and are looking for reassurance that the location is still a viable option for investment may welcome the news.

TH Properties has been operating in the real estate market for over 22 years and is currently developing a new flagship project, @enstek, which is located nearby to Kuala Lumpur city centre.

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...

RM500m Lahad Datu airport project to get priority under 10MP

Thu, 27 Nov 2008 00:00:00 GMT

RM500m Lahad Datu airport project to get priority under 10MP Lahad Datu: The Government will give priority to the construction of a new airport for Lahad Datu, costing RM500 million, during the 10...

Low cost service from Stansted to Malaysia launched

Wed, 26 Nov 2008 00:00:00 GMT

A new budget airline long haul route has been launched, connecting Europe and Asia. AirAsia X yesterday announced flights from London to Malaysia, where passengers can connect to flights to Australia.

Booking for AirAsia X's London-Kuala Lumpur service opened yesterday. Tickets are available from £99 one way. Passengers travelling to the Malaysian capital will benefit from five flights per week from Stansted Airport.

"AirAsia X's London-Kuala Lumpur route is the realisation of a long held ambition to open up affordable access between Malaysia and Europe. We have an incredible route network and at £99, the opportunity for Londoners and Europeans to explore the region has never been greater," said Tony Fernandes, CEO of the AirAsia Group.

"This new route will benefit everyone, enabling magnificent holidays in beautiful locations, encouraging economic and tourism activity...As time passes there will be more promotions and the fare could well fall further - we always look to make the fare as low as possible," he added.

AirAsia X already flies to Australia from Kuala Lumpur, enabling passengers to continue their low cost flight. Travellers will be able to catch connecting flights to Perth, the Gold Coast and Melbourne.

The airline is the low cost, long haul affiliate of AirAsia and covers destinations which are more than four hours in flight duration from Kuala Lumpur.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

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...

Association of Banks welcomes cut in OPR

Tue, 25 Nov 2008 00:00:00 GMT

The Association of Banks in Malaysia said on Tuesday Bank Negara’s decision to cut its Overnight Policy Rate by 25 basis point to 3.25% from 3.50% was positive as it would lead to lower cost of funds for banks...

State-level Energy Efficiency Convention

Fri, 21 Nov 2008 00:00:00 GMT

State-level Energy Efficiency Convention Kota Kinabalu: A State-level Energy Efficiency Convention will be held at Shangri-La's Tanjung Aru Resort here this Monday (Nov 24), in conjunction with th...

MIPIM Asia: Kuala Lumpur project is attracting international buyers

Wed, 19 Nov 2008 00:00:00 GMT

International buyers are playing a key role in the early growth of Kenny Heights, an 88-acre site which hopes to develop as a Beverly Hills-like suburb of Kuala Lumpur. Since the first phase of the development went on sale in April—49 villas designed by Kengo Kuma, priced between $1.3 million and $1.6 million (RM 4.6 million-RM...

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...

Genting ventures into renewable energy

Fri, 17 Oct 2008 00:00:00 GMT

Genting Bhd is venturing into the renewable energy sector by acquiring one million shares of US-based Synthetic Genomics, Inc (SGI) for US$8mil or RM28.2mil from its founder...

Ringgit Ends Flat Against US Dollar

Fri, 17 Oct 2008 00:00:00 GMT

KUALA LUMPUR, Oct 17 (Bernama) -- The ringgit ended flat against the US dollar Friday on lack of strong buying interest, dealers said. At 5 pm, the ringgit traded unchanged against the greenback at...

Malaysia rules out re-pegging ringgit

Tue, 23 Sep 2008 00:00:00 GMT

KUALA LUMPUR: Malaysia has no intention of pegging the ringgit to the dollar, Finance Minister Najib Razak said on Monday, ruling out calls to...

Expats make Malaysia their secure haven

Tue, 23 Sep 2008 00:00:00 GMT

Paul Tyminski went to school in Penang in 1962 He has been in Malaysia since July last year under the Malaysia My Second Home (MM2H) programme. "I went to school here in 1962 when my parents lived in...

Ringgit Opens Firmer Against US Dollar

Tue, 23 Sep 2008 00:00:00 GMT

KUALA LUMPUR, Sept 23 (Bernama) -- The ringgit opened firmer against the U.S. dollar on commercial demand as the greenback fell under pressure over the US$700 billion cost to bail out mortgage-related...

Landmark building to be torn down

Mon, 15 Sep 2008 00:00:00 GMT

KUCHING: The former Gambier Street wet market, one of the city's old colonial-era buildings, will be torn down as it is purportedly unsafe, officials said...

Ringgit Opens Slightly Higher Against U.S. Dollar

Mon, 15 Sep 2008 00:00:00 GMT

KUALA LUMPUR, Sept 15 (Bernama) -- The ringgit opened slightly higher in early trade Monday against the US dollar following lack of commercial demand for the greenback, dealers said. At 9.24am, the...

Etihad strengthens global network with new codeshare agreement

Mon, 15 Sep 2008 00:00:00 GMT

Etihad Airways is to extend further its expanding global network by providing its customers with greater access to destinations in Asia, following the signing of a new codeshare agreement with Malaysia Airlines...

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...

Review housing laws to protect buyers, says lawyer

Thu, 11 Sep 2008 00:00:00 GMT

Review housing laws to protect buyers, says lawyer Kota Kinabalu: The Government has been urged to urgently review present housing laws because house buyers in Sabah are at the mercy of developers...

Malaysians top foreign home buyers in Singapore

Thu, 11 Sep 2008 00:00:00 GMT

Singapore - Malaysians overtook Indonesians as the top foreign buyers of private homes in Singapore in the second quarter, a property consultancy said Thursday. According to DTZ, Malaysians accounted...

UEM Builders investors have several options

Wed, 10 Sep 2008 00:00:00 GMT

UEM Builders Bhd shareholders have several options before the shares of UEM World Bhd go ex on Sept 11, according to a local brokerage...

UEM Land plans housing project in Cyberjaya

Wed, 10 Sep 2008 00:00:00 GMT

Growing demand for medium-cost residential units here has attracted more developers to undertake property projects in the township...

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...

ECER Woos China Investors

Wed, 10 Sep 2008 00:00:00 GMT

KUALA LUMPUR, Sept 10 (Bernama) -- Some 500 Chinese entrepreneurs from Guangdong province will be briefed on trade and investment prospects in the East Coast Economic Region (ECER) on Friday. The d...

Airasia X To Increase Daily Flight Capacity To Gold Coast

Wed, 10 Sep 2008 00:00:00 GMT

KUALA LUMPUR, Sept 10 (Bernama) -- As a commitment to Gold Coast, AirAsia X will be increasing its daily flight capacity during the mid-December to mid-January peak season, Chief Executive Officer Azr...

Government calls on corporate support for house building programme

Wed, 10 Sep 2008 00:00:00 GMT

A News item from Business Respect, Issue Number 135, dated 30 Aug 2008Invoking corporate social responsibility, the Malaysian government has called on companies to contribute to the Amal Jariah progra...

Ringgit Still At A Manageable Level, Says Ahmad Husni

Wed, 10 Sep 2008 00:00:00 GMT

KUALA LUMPUR, Sept 10 (Bernama) -- The recent depreciation of the ringgit is still at a manageable level, said the Deputy Minister of Finance I, Datuk Ahmad Husni Hanadzlah. "The depreciation is st...