Malaysian property market ‘one of strongest in the world’
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News on Malaysia
3 July 2008
Malaysia’s property market, which is attracting an ever-growing number of international property buyers, is now one of the strongest property markets in the world, offering robust property investment returns, according to property agent David Stanley Redfern.
Over the past few years the Malaysian government has proactively encouraged greater foreign investment by offering a range of incentives; granting automatic residency to foreigners who buy property for sale in Malaysia, abolishing capital gains tax, amongst other tax incentives. Furthermore, mortgage finance has been made readily available to overseas nationals, with all paperwork in English.
David Stanley Redfern forecast that the average property for sale in Malaysian will appreciate by 15% over the next couple of years, and expects buy-to-let investors to be able to achieve annual rental returns of up to 10%.
The company expects the greatest capital growth to be realised in Kuala Lumpa. The city is the fastest growing metropolitan area in the country, both in terms of population and economy. This, along with strong tourism levels, is driving strong demand for homes to both buy and rent in the region.
David Stanley Redfern is currently marketing a couple of off-plan property developments for sale in Kuala Lumpur - The Vivaldi and The Crest. Apartment prices start from £165,000.