KUALA Lumpur (KL) remains an attractive investment spot for Asian buyers post COVID-19 due to competitive pricing, long-term growth potential and foreign-friendly policies.
The reason for this is that properties in KL have relatively affordable price per square feet, ample facilities, great accessibility with integrated transport services, and one of the highest standards of living in Southeast Asia, said CORE Precious Development Sdn Bhd chairman and managing director Zhang Bao in a press statement today.
CORE Precious, a joint-venture (JV) company between China Communications and Construction Group (CCCG) and Bursa Malaysia-listed WCT Holdings Bhd, is currently developing a high-end residential project located at the Tun Razak Exchange.
Other factors include Malaysia’s reasonable cost of international education, great healthcare system and reputation as a top retirement destination,” added Zhang Bao.
He commented that based on a report by Juwai IQI recently, Malaysia is expected to see an increase in foreign purchases in the next 12 months, and is currently ranked 7th in the third quarter of this year amongst the world’s most preferred destination by Chinese property buyers.
“Malaysia is one of the most foreign-friendly countries in Southeast Asia for real estate investors, due to the lowering of foreign ownership price threshold since June 11 this year, which will be valid for one year.
“Despite a slump caused by the virus and movement control orders, foreign investors are still interested in Malaysia’s long-term growth potential and the economy has already shown tentative signs of recovery after the government began easing restrictions,” he pointed out.
Although overseas investors have been unable to make site visits due to border closures, the company shared that it used creative methods such as online live shows and virtual viewing experience on top of increasing social media engagement.
So far, CORE Precious has received encouraging demand for property units at Core Residence @ TRX and the construction progress is said to be well on schedule in spite of the ongoing pandemic. – Jan 3, 2020
