Singaporeans choose Malaysian real estate
By James Roberts

Singaporeans choose Malaysian real estate

Singaporeans are increasingly choosing Malaysian real estate, as relations between the two countries improve.

Steve Melhuish, co-founder and chief executive of Property Guru Malaysia, explained to The Edge that Singaporeans see Malaysia as a viable location for property investment due to its near proximity to their home country and its comparatively lower cost of purchasing real estate.

It is also much cheaper to maintain a property in Malaysia, which is especially attractive for those in the buy-to-let or holiday rental market, who need to manage such projects remotely.

Luxury property in the country is a particular draw for Singaporeans, who face costs of approximately £1,568.55 per square foot in their home country for high end real estate. However, prices in Malaysia are around five to six times cheaper in contrast, the newspaper reported.

Mr Melhuish explained to the newspaper that the demand in Singapore is now so high that to take advantage of these favourable conditions, Property Guru's Malaysia Property Show will return to the country between December 8th and 9th.

"Prospective investors and homebuyers can expect to view the latest property projects from ten major Malaysian developers including Andaman, UEM Land, Plentitude, Sime Darby Property, MRCB, The Haven, Denia Developments, Pulai Spring, Tunah Sutra and Encorp Iskandar," he said.

With Singapore coming in 9th in the Wealth Report 2012's prime second-home buyer's list, the time is definitely nigh for Malaysian developers to extend an olive branch to their neighbours to stimulate market activity. This falls in line with the government's aim to stimulate further property investment from overseas.

One area proving popular with buyers is Johor Iskandar, which is three times the size of Singapore. It has already attracted RM 32.94 billion (£67.2 million approx) and boasts Legoland Malaysia, Marlborough College, Pinewood Studios, hospitals and universities.

According to a report by The Edge Singapore: "Soaring home prices and overcrowded roads in Singapore have made living in Johor a more attractive prospect for many Singaporeans and expatriates, even with the risk of crime and the inconvenience of crossing the border every day".
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