Malaysians have enormous confidence in country's property market
The strong local economy and political climate makes Malaysia an excellent place to invest in property. That’s the view of a leading Malaysian property expert who also believes that the country remains attractive to foreign property buyers.
iProperty.com’s Asia Property Market Sentiment Report 2012 for the second half of this year is upbeat about Malaysian property, and Chief Executive Officer of iProperty Group, Shaun Di Gregorio, believes the country remains a great place to invest. Keep reading to find out more about the opportunities for property in Malaysia.
Most buyers looking for Malaysian properties worth £30,000 to £100,000
Mr Di Gregorio cited the results of his company’s sentiment report which found that around 52 per cent of 11,966 Malaysian online survey respondents said the current and political climate is conducive enough to property investment.
He said: "The strong growth of the Malaysian economy is also one of the strongest contributing factors for the enormous confidence that Malaysians have in the property market here. Usually, the property market in a country grows in tandem with the economic growth of the specific country.”
Mr Di Gregorio also said that consumers are likely to maintain a cautious approach in purchasing high-end properties due to the loan-to-value ratio of 70 per cent. Over 70 per cent of the survey respondents stated that their budget for property investment was under RM 500,000 (£100,700).
He added: "Most of them prefer properties with a price tag of between RM150,000 (£30,200) to RM500,000 (£100,700). This is also becoming the appetite of many housing developers in Malaysia lately because they realise the untapped potential in the specific price segment.”
However, Di Gregorio said that housing affordability remains the biggest concern of Malaysians. Respondents to the survey said that they wanted the Malaysian government to introduce tax deductions on housing loans to enable more young professionals to own a property.