Economic recovery boosting Malaysian property market
Speedy
is expected to have a significant effect on the country’s property market, it has been suggested.
Datuk Abdullah Thalith Md Thani, director general of Valuation and Property Services Department at the Malaysian Finance Ministry, said that the demand for property was returning.
The growing demand for produce and increasing cost of things such as rubber and crude oil is also helping recovery.
He added: "The property market for this year will improve as the number of transactions involving new housing and construction activities increases."
Furthermore, Mr Abdullah Thalith said that the government would continue in its attempts to make the
market appealing to foreign investors.
He cited the liberalisation of the Foreign Investment Committee as one particular measure being used to increase buyer confidence.
According to property website Prime Location, the government in Malaysia is doing a good job attracting British buyers to the country.
With initiatives like the Malaysian My Second Home Visa programme and the lack of capital gains tax when selling a property, investment in the country is seen as a viable option for many.