Malaysians top the list for purchase of properties in foreign lands
A recent report said that Malaysians are the leading purchasers of properties in Queensland. The stats which are for the years 2010-11 have been collected for sale made in both Queensland and Brisbane of the properties. In figures, the whopping amount of RM977.51 million and RM929.63 million for Queensland and Brisbane properties respectively is something that cannot be overlooked.
Talking about the highest deal, it was for the selling of a 40 storey green office building at Brisbane. The same was located at the Turbot street and developer from real estate Malaysia who bought the same were Permodalan National Berhad, popularly known as PNB in Malaysia.
Apart from Malaysia, buyers who have made to the list hail from China, Japan and Singapore. Malaysia however is the top position holder followed by these three. In figures, the total amount for purchase of properties these three made amounted to RM2.36 billion.
In another report, it clearly came to picture that Malaysian developers and firms contributed up to 12% sales of the apartment projects being developed in Australia for the year 2010-11.
The most notable development in this was undertaken by a leading developer in property penang- SP Setia Group. This was for the development of a two tower Fulton lane in Melbourne at Australia. The project started in 2010.
The apartment market in Australia is already seeing dominance by developers and firms from Asia. This even includes almost 90% of the apartment development projects that are currently ongoing in Australia.
The developers who are a part of this development in foreign lands aim at adding to their income base and thus choose locations that are the prime ones. Located near shopping centres, universities and more this will help in accomplishing a stronger demographic growth, thus offering a win-win situation to both Malaysians as well as Australians.
Another talked about acquisition by PNB include making trials to acquire properties in the Capital of UK, London. The company in just two years has already managed to invest on 4 overseas properties. These include one in Australia and three in London. These comprise the One Exchange Square, Santos Place, 90 High Holborn and the Shore house located at London and Brisbane respectively.
The interest that developers from Malaysia are showing in overseas properties has gained significant momentum in the past few years. The step taken by leading developers like SP Setia and PNB are further going to motivate more developers to participate in this and add to Malaysia’s popularity in the global real estate market even more.
Malaysia fits in very well in the property investment area internationally. While on one hand the strong economic policies and relaxation in laws is attracting developers to invest in Malaysia, still on the other hand developers making investment in foreign lands is a bonus for Malaysian real estate growth.
In short, Malaysia has emerged as a strong power on the Asian map and with the growth rate that the same is managing to grow at nationally and internationally, Malaysia is bound to emerge as a strong property investment hotspot and leading overseas investor on the planet.
Jeevan Nanthan - About Author:
The author is an expert in real estate malaysia and works with SriShanBid to assist with buying and selling of penang real estate. SriShanBid as a leading property company can help anyone in finding their dream property penang at best possible deals.
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