The Malaysian residential property market continues to boom and drive growth for the rest of the property market. Signs of this can be seen among the many residential development projects that are currently being launched, refurbished, or developed.
Part of the reason for this ongoing growth is the Malaysian government's efforts to promote the development of low and medium cost housing under the 9th Malaysia plan (Thrust 4, Chapter 21), which requires the development of an estimated 700,000 new units of housing in order to accommodate the country's burgeoning needs.
Bolstered by the government's initiatives in this direction, the future of the residential property market looks set to improve; especially with the government's promises to review existing housing and development policies. One notable example of this is the Prime Minister's highly debated 'build-and-sell' approach to property development; a proposal that aims to reduce the risk to buyers of purchasing incomplete or abandoned housing schemes.
In light of this growing optimism in the property market, even home buyers from outside the country are getting on the property buying bandwagon under such programs as 'Malaysia: My Second Home'; a scheme that allows foreigners to purchase higher-end properties in Malaysia without having to receive prior approval from the Foreign Investment Committee.
In addition to this, we have noticed that expatriate living in Malaysia is moving from rental properties to purchasing properties. Expatriate owners are willing to invest in properties in Malaysia as they are confident in the property value (and future property market) in Malasysia.
Empire K - http://www.empirek.com
Article Source: http://EzineArticles.com/?expert=Srinivas_Krishnan
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MALAYSIA INVESTMENT
A cosmopolitan metropolis offering glossy cityscapes juxtaposed with century old traditions and lifestyles, Malaysia is not a destination for the fainthearted. It is however a paradise of property investment opportunities for those looking to add a Far Eastern flavour to their portfolio.
Recent sweeping changes to taxation and legislation have made Malaysia an attractive prospect for both local and foreign investment. The economy is strong with outside investment flooding in and many western corporations setting up Asian outposts there.
In terms of types of property, Malaysia offers a wealth of options for both the casual and serious investor. From urban real estate overlooking the business hub of Kuala Lumpur to tropical holiday properties set on silky sands fringed by blue sea and palm trees, Malaysian real estate is considered to be a good long term investment option by many investment analysts.
For those looking for a serious investment, property in Kuala Lumpur is a safe bet for long term rental incomes. Demand is currently strong for both residential and commercial property. Existing or new builds are plentiful and are backed up by an excess of demand. In comparison with other young, vibrant cities Kuala Lumpur is a cost effective solution for property investors with prices significantly lower than those of comparable builds in other capitals.
As a typical example, a one bedroom new build in the city centre Kiara 1 development is currently on the market for $ 110,005. The epitome of modern living, the apartments are a triumph of comfort and modernity, with everything from lighting, glass walls and architecture specifically designed to give a sense of space and comfort. Luxury living, five star views and an abundance of recreational facilities, the avant-garde Kiara 1 development boasts excellent rental potential.
For more information about overseas investment property and buying in Malaysia, visit http://www.davidstanleyredfern.com
About David Stanley Redfern Ltd
David Stanley Redfern Ltd is an overseas property specialist, working directly with developers in more than forty countries. All properties are exclusive to David Stanley Redfern Ltd, giving an unparalleled selection of resale and new builds. David Stanley Redfern Ltd is AIPP accredited.
Please direct all media queries, requests for press information and editorial details, to rebecca@davidstanleyredfern.com
David Stanley Redfern is the director of David Stanley Redfern Ltd, an overseas property specialist. David works closely with developers in more than forty countries and oversees the David Stanley Redfern Ltd. education programme which lectures individuals and organisations on property investment. David Stanley Redfern Ltd is AIPP accredited.
Article Source: http://EzineArticles.com/?expert=David_Redfern
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