Indonesians have continued to invest in Malaysia’s property
Indonesians have continued to invest in Malaysia’s property market even with the spiked interest in Singapore. According to The Sun Daily, Indonesian property buyers are continuing to invest in Malaysia despite the recent spike of Indonesian investments in Singapore.
Rahim & Co founder and executive chairman Datuk Abdul Rahim Abdul Rahman said that an increasing number of Indonesian are buying high-end properties in Singapore, exceeding those from China and Malaysia, and that it is not a reflection of declining Indonesian investments in the Malaysian real estate market.
“We do have Indonesian investors in Kuala Lumpur and Penang. They come and invest in property development too, through their counterparts here, not just buy units here,” he said. He went on to say that many Malaysians are investing in London instead of Singapore to take advantage of weak prices in the British capital due to foreign exchange.
He said investors are confident of the growth in Britain’s economy and prefer to buy a holiday home in London rather than “just across the border.”
“Investors buy second homes for investment and for holiday. For Malaysians, Singapore is very near, it is just across the border,” he said. “Comparing prices in Singapore and Kuala Lumpur, if you can get the same returns buying here, why would you want to invest in Singapore?” Rahman said Indonesians view Singapore as the nearest attractive investment location due to the political stability, economic performances, and security.
Raine & Horne International Zaki + Partners Sdn Bhd executive director Lim Lian Hong said property prices in Singapore fell a little last year and Indonesians found it a good time to enter the market. He said the Singapore government’s move to “cool down” the real estate market by increasing stamp duty for foreign property buyers last year had affected sales.
“We also have Indonesian investors here, especially in Penang and Kuala Lumpur. We have our fair share,” he added.
Rahman went on to say that residential property prices in Malaysia are expected to stabilize this year with slight growth but prices for properties in established areas such as Bangsar, Kenny Hills, Damansara Heights, and Petaling Jaya will continue to grow. “As land gets less and less, prices for these houses will not drop,” he said.
“Anybody who can afford a deposit and is eligible to take a loan can find homes, except those below RM400,000 (US$130,548) This is where the government comes in. They need to provide houses near workplaces.”
This property news article “Indonesians have continued to invest in Malaysia’s property” Sources : http://www.property-report.com/malaysia-continues-to-attract-indonesian-buyers-20366
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