Singapore was ranked as the second top choice for real estate investment of wealthy Malaysians who have the financial muscle to hold such asset in the property conscious city . Results from online survey shows that 7 percent of those who did the survey own a high-rise or landed home outside Malaysia out of which 20 percent of these individuals own a property in Singapore. With so many new launch condo and new condominium supply added into the real estate market in Singapore, there are plenty of investment choices for the cash rich Malaysian individuals and also anticipating many new condo launch activities in the pipeline.
Meanwhile, Australia maintains its top spot with 23 percent having already owned a home there. India and Germany are also among the popular destination of new property or real estate investment choices with 18 percent and 8 percent respectively.
Many Malaysians choose Australia as second home due to its close distance with just a few hours flight away and another reason is its better working environment supported by a better education system in Australia.
Those surveyed also favored Hong Kong at seven percent, Japan at six percent, China at five percent, Thailand at five percent and UK at four percent. Approximately half of the respondents who own either overseas homes or non-residential properties realise that the prices in those markets were cheaper than those in Malaysia surprisingly despite the weaker strength of the Malaysia ringgit. Reasons for overseas new property investment are capital appreciation and children’s education. Other reasons include good government policies, retirement needs, migration and relocation to a better living environment.
Going forward, more Malaysians are now very much eager to invest in overseas real estate especially in Australia which continues the trend as the most popular real estate market with Singapore, Indonesia and the UK remain as the target market for their property investment.