The number of Malaysian investors acquiring properties in London has increased rapidly since the end of 2009, said an official from Henry Butcher Real Estate Sdn Bhd.
The increase is due to the weakened pound sterling and the rising property prices in Singapore and Australia, two of the most popular investment destinations for Malaysians.
The overall response for London properties has been good with a “healthy transaction rate,” said the official, adding that many buyers are investors familiar with the city.
International asset consultancy firm Henry Butcher began marketing London properties to Malaysians since February 2009.
Its latest offering is the Kew Bridge Apartments, by developer St. George, located on the banks of the Thames River. It comprises 164 apartments ranging from one to three bedrooms and penthouses, which features a European-style public piazza with landscaped squares and gardens, as well as a new riverside bar.
“The St. George brand has been very well received by investors in Malaysia as they fully recognise our reputation for building high quality apartments, with a superior specification, in superb locations,” said St. George West London managing director Ian Dobie in a press release.
“With interest rates as low as they are in the UK, Kew Bridge offers investors a fantastic chance to realise some very attractive returns and we are delighted to be able to offer this beautifully landscaped riverside development exclusively to our Malaysia customers,” he added.
The 999-year leasehold apartment project features comfort cooling, natural stone bathrooms and extensive facilities which include an exclusive fitness suite and 24-hour concierge. Each unit has an average size of between 409 sq ft and 2,236 sq ft, with prices starting from £279,850 (RM1.37 million).
The project is expected to be completed in stages starting next year, with an initial launch on August 21 and 22 at the Mandarin Oriental Hotel in Kuala Lumpur.