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SG Exciting times ahead for Malaysian property: expert

Property Here - Tuesday, July 23, 2013

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Malaysia’s property market has excellent growth potential and is expected to benefit from Singapore’s high housing prices, according to Kenny Tan, Founder and Principal Trainer at the Singapore-based School of Infinite Potential.
 
“Malaysia still has much growth. The market here is exciting and there is a lot of potential and resources.”
 
Given the high cost of properties in Singapore, Malaysian real estate has become a more affordable alternative due to the country’s proximity to the city-state, noted Tan, who is also Group Division Director at ERA Realty Network.
 
“A lot of Singaporeans buy their second home or investment properties here. There is a lot of interest here, especially in Iskandar Malaysia (Johor).”
 
Property prices in Kuala Lumpur have also been rising steadily since 2004, while the Singapore market has undergone a few rounds of corrections.
 
There has also been an influx of foreign nationals from Japan and South Korea who are interested in buying a home in Malaysia, offsetting the weaker demand from US and European expatriates.
 
Malaysia's property market is also shifting more towards buying and selling online.
 
“Technology provides convenience and productivity; one can search for properties online at anytime and anywhere. This is already happening in Singapore and we foresee that happening in Kuala Lumpur over the next two to three years,” Tan said.
 
By going online, buyers can search for suitable properties before viewing them or meeting up with estate agents, saving time and money.
 
Meanwhile, there is still strong demand for Singapore properties, especially from Chinese investors despite the government's stringent curbs.
 
“(It's just that Singaporean) investors are now taking their time to buy instead of rushing in and chasing prices,” Tan added.



Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@allproperty.com.sg