M’sians Buying Up Properties Abroad Thanks To Lower Exchange Rates

PETALING JAYA: More Malaysians are snapping up properties overseas as they take advantage of the lower exchange rate in countries like Britain and the United States to spread their investments or shop for holiday homes.

A check with several major agents marketing international properties here showed that the number of Malaysian buyers has been climbing steadily over the last three years, peaking in the first half of this year.

With property prices in the Klang Valley and major cities and towns here soaring, those with cash to spare are turning their attention to properties in countries affected by the global economic crisis where prices have dropped.

Among the more popular investment spots are London and its surrounding districts as well as university towns in the US where there is a market for rentals.

Australia, despite its high exchange rate, is also popular due to the good investment returns and stable property market.

Henry Butcher Malaysia director Lim Eng Chong said Malaysian investors were getting more savvy and the buying trend was now heading towards a more global outlook.

“Malaysians and Singaporeans are now the biggest overseas market after the mainland Chinese for prime properties in London,” he noted.

Between January and August this year, the company sold over 100 properties in London, mostly new apartment units to Malaysian buyers. The properties were priced from 200,000 (RM965,382) to 2mil (RM9.65mil) each.

In 2009, about 100 properties were sold while some 150 were sold last year.

“Previously, there was interest but London was out of reach for many Malaysians. Then came the collapse of Lehman Brothers three years ago. The pound became cheaper, spurring more Malaysians to invest there. Many investors would already have enough (properties) on their plates locally, so they are now diversifying,” he explained.

Jalin Realty International Pte Ltd chief executive officer Ian Chen said about 50% of his clients buy homes for their children studying overseas while another 50% buy for investment or to keep as vacation homes.

“We are seeing many young Malaysian professionals investing in Australia, mainly to diversify their investment and to achieve early financial freedom. Australian properties provide much stability and consistenty in capital growth, with about 10% annual compounding growth,” Chen added.

He said sales had shot up 100% since the company ventured into the overseas market five years ago. Most of the properties sold ranged from AUD500,000 (RM1.57mil) to AUD800,000 (RM2.5mil).

International property investment firm Robert Douglas head of sales and marketing (Asia) K. Daniel said US properties in Michigan, Florida and Las Vegas were now popular, as they yielded high returns. Michigan and Florida were attractive because of their high student population which provided a ready market for rental properties.

“Malaysians usually buy to let (for rental returns). But if they wish to stay, there are no restrictions as long as they have the necessary visa, ” Daniel pointed out.

Source :The Star 09/2011

Rehda’s wishlist for Budget 2012

KUALA LUMPUR: The Real Estate and Housing Developers’ Association Malaysia (Rehda) hopes the Government will not implement any major systemic change for the property sector in Budget 2012.

While applauding the current system, its president Datuk Seri Micheal KC Yam said frequent changes in the taxation and property-buying segment would disrupt the immense investment in property by both locals and foreigners.

He said a change, would deepen the negative perception of Malaysian legislation by foreigners, and even locals, that things are always changing.“If the system keeps changing for every budget, then the confidence level for a person to invest in local properties will also be very low.“Sustainability and standardisation of property taxes, as well as a market friendly environment, is very important for Malaysia to compete on the international arena,” Yam said after the opening of the “Green Solutions for Property Development 2011” forum here today.

It was officiated by Housing and Local Government Minister, Datuk Wira Chor Chee Hueng.

He added that the result of an inconsistent system has resulted in only four per cent of households in Malaysia being owned by foreigners.

He said the current system was good in ensuring the competency of the local property market among neighbouring countries.“However, the property segment players must be given time to adjust to a certain legislation system.“Usually, when the players are ready to adopt a new system, it is then being enhanced or upgraded, thus, making it difficult for the property developers to put it into practice,” he added.

Meanwhile, Yam said REHDA hopes the government will review the low cost housing scheme requirements and reconsider the release of unsold Bumiputera-property units, due to less demand from the respective quarter.“This will enable the Malaysian property segment to be a more market and demand-driven,” he said.

By Bernama

CASA PERDANA: New Pictures Update!

Hello everyone!

Yes, here are the new pictures of the project site of
Casa Perdana, Seberang Perai Tengah, Penang.

There are allot of talk about the O.C, and I can assure everyone that its just around the corner...
Propertizer Team is also anxious to inform you on any good news as soon as we get instruction from the Developer which is 

VST Development Sdn. Bhd.

So here are the new pictures from the site! (For those who haven;'t been there recently, here are the pictures of the current situation) [thanks to Luffy who took the photos]

Casa Perdana units, standing perfectly in its elegant composure 

Another shot at the Show House row, the facing "east" units

The other row facing the showhouse, the facing "west" units

Centerfold: Tingkat Pauh Jaya 2, the road that divides the 2 rows of Casa Perdana

The "Secret" garden; privilege to the certain few of the "west" units

Meanwhile there are also talk on the potential of increment of price when we obtain the O.C, Yes...that might be true due to the property being completed. In Penang or anywhere else, it is a norm for the price of a property to increase when the property has obtained its O.C/C.F.

So why am I telling you this? Well there is still a very limited time gap till we obtain the O.C, so if you want to catch the best price before the increment, you should call me now!

Mike: 016-4207727
Luffy: 012-5560077
*We would appreciate if calls for showhouse viewing can be made earlier so we can arrange our time to give you our best service ^^
==========
A special shout out goes to Pn. Nasima @ India and Mr. Wan @ Singapore! ...these pictures are especially for you!

TK RESIDENCE: Unrevealing the show unit

TK RESIDENCE: Updated pictures of current site

Buildings up! awaiting final stages for showhouse...

We have recently completed the deco and interior of our TK Residences showhouse!

I must say its tastefully designed to give you an idea of what you can do to your own unit at TK Residence when your ready to move in.

Overlooking the dining area & Kitchen

Beautiful Kitchen

The living hall

The Room @ the ground floor

The Family Area: 2nd floor

Bedroom 

Majestic Master Bedroom

Now you have seen our sneak preview, come make an appointment with us to view the actual site!

Here is our online brochure: TK Residence online brochure

Please contact us for more info:

Michael..... : 016-4207727
Daniel....... : 016-4217121
Luffy......... : 012-5560077
Ryan......... : 016-4278766

or e-mail us at:

the.propertizer@gmail.com

Pavilion Resort roadshow

This is our last day at 1st Avenue, come visit our booth as we display our last few launches of Pavilion Resort before the proposed increment of price due to work progress :)