Malaysian property is 'second cheapest in region'

Potential investors looking to buy property in Malaysia will be pleased to learn that the average price of apartments in the country is the second lowest in the surrounding region.

Figures released by Global Property Guide have shown that only Indonesia offers city apartments for a lower cost than Malaysia.

"In comparison, the average price of city apartments in Singapore is almost eight times more than in Malaysia, beating even Australian prices, which are almost five times higher than Malaysian city apartments," the news provider explains..

"Other countries surveyed included Philippines, Cambodia and Thailand, where high-rise residential properties in the city cost more than in Malaysia."

Meanwhile, Property Report recently claimed that developers in the country are confident about the health of the real estate market.

This is despite recent cooling measures being introduced by the central bank in an attempt to control the market.

Under the new rules, home buyers who have signed up for two mortgages and intend to apply for a third loan are required to finance only 70 per cent of the home value.