Category: Swhengtee Article Published: Tuesday, 29 January 2013 10:31
Source: PropertyGuru Malaysia
By Farah Wahida:
Malaysia’s real estate sector is rife with opportunities for investors, although the government is likely to implement tighter loan guidelines and possibly higher property taxes this year, according to Gavin Tee, an International Property Consultant.
This decade will bring unprecedented growth in Malaysia’s real estate market and is expected to be the ‘Golden 10 Years’ for domestic property investors, he said.
In the local market, Tee’s top 10 hotspots are Malacca, KLIA region, Pangkor Island, Johor Bahru’s CBD, Tebrau, Kuching, Cyberjaya, Penang Kota Kinabalu, KL City South (TRX, Imbi, and Jalan Cochrane area), as well as Iskandar.
For Klang Valley, Kuala Lumpur City Centre (KLCC), Kuala Lumpur International Airport region (KLIA), Shah Alam-Subang belt, Petaling Jaya town centre, Cyberjaya, Taman Desa/Seputeh, Mid Valley/Bangsar South Belt, Jalan Duta/Mont Kiara, Jalan Cochrane and Jalan Imbi /TRX Zone make up the top 10 list.
Internationally, top markets include Gold Coast in Australia, Wuxi, Jakarta, Miami, Madrid, Moscow, Dubai, London and New York.
Moreover, globalisation is affecting property markets across the world, especially Malaysia, as various governments invite foreign funds to invest in their real estate sectors, he said during the ‘Changing Face of The Real Estate World’ seminar held at Putra World Trade Centre last weekend.
“The march of globalisation has not spared any country and we will see sweeping changes in the real estate world in the coming years.”
“We will witness a shift in the flow of funds as they gravitate towards countries that offer the best returns in an uncertain global economic and political environment,” added Tee.