INTERNATIONAL buyers are still attracted to buying properties in Malaysia especially in Kuala Lumpur, Genting Highlands and Sabah, said IBN Corp.
According to IBN Corp director Megat Khalil Izzuddin Shah, Malaysia remains one of the most ideal countries for retirement due to its excellent weather and living environment, and that international investors’ interest in property are mainly concentrated in the centre of Kuala Lumpur and in tourism-related projects.
“As a multilingual and multicultural country, Malaysia has a considerable advantage in providing an environment that is easy for foreigners to blend in,” he explained.
“The highly accessible public transportation system, affordable medical cost and cheap yet excellent education are also attractive prospects.”
Khalil further pointed out that investors like the freehold options and the price in exchange for the quality of lifestyle as compared to what they can get back in their home countries like China, Hong Kong, Singapore and Japan.
“As a result, we have seen that Malaysia’s property market has actually remained quite stable throughout these two years,” he commented, adding that there will be a chance for further growth once customers from overseas are allowed to travel again.
“Some customers from Singapore are starting to come back to Malaysia to shop for properties, and eventually those from East Asia, as well as Europe and America will possibly return in the second half of this year.”
Due to the current travel restrictions, overseas customers have been unable to visit their project site and sales galleries here in Malaysia, said Khalil, and therefore the company has adjusted its sales and marketing strategies to focus more on the local market and by engaging with leading local property agencies.
IBN Corp focuses on high-end property development and has a customer base that mainly comprise of overseas buyers.
The company’s key developments include IBN Bukit Bintang, a RM1.3 bil gross development value (GDV) luxury high-rise development that will eventually become the tallest residential building in Kuala Lumpur, and IBN Highlands City, a RM6.2 bil GDV mixed-use development project located at Genting Highlands. – Feb 7, 2022
