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Posted: 23 Oct 2009 | 7:13 am
As the Hong Kong and Singapore markets are well into recovery from the global financial crises foreign buyers are now seeking out deals in nearby locations where the expectation is that upside may just be around the corner.
Many Asian investors have turned their eyes on Malaysia with Kuala Lumpur receiving the lion's share of interest. Back of the successful "My Second Home" program which targeted expatriate purchasers one of the other attractive components of the market includes the ability to obtain debt.
CBD condo projects are in demand with rental yields ranging from 5-6% in strong locations while financing interest rates remain low in the mid 3% range. One thing Malaysia has been able to do versus Thailand is attract Asian nationals as purchasers due to debt, relative sophistication in legal structure and perceived stability.
While Phuket mid range housing continues to suffer from an oversupply and flat trading it becomes increasingly important to see some Government reforms in lease terms in order to provide bank financing of units. Until this time comes it puts an unhealthy emphasis of pressure on a mono market of overseas non Asian national buyers, with everyone wondering where the next go to market will come from.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
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