Iskandar Malaysia and Kuala Lumpur are set to see more interest from Singaporeans looking for luxury residential properties, noted Knight Frank Malaysia.
Sales will be partly driven by the recent announcement of a high-speed rail development that will considerably reduce travel time between the two countries.
“We also see a trend of Singaporeans buying high-end residential properties, like condominiums in Kuala Lumpur, as the prices are quite cheap for them due to the current exchange rate,” noted Sarkunan Subramaniam, Managing Director at Knight Frank in Malaysia.
Meanwhile, Malaysians look to buy properties in locations they are familiar with.
“Familiarity is the key for Malaysians who tend to buy properties abroad, especially in places where they have stayed or been educated before, or places where their children have stayed or studied before,” said Sarkunan.
“The property inquiries we get from Malaysian investors are predominantly in London and Australia as quite a number of Malaysians are educated in these places or have sent their children there.”
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@propertyguru.com.sg
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