Singapore a property hotspot for Malaysian investors

More Malaysians are looking to invest abroad, with Singapore as a hot property destination, according to Malaysia’s leading property portal, HomeGuru, in its latest quarterly consumer sentiment survey.

24 percent of the over 2,800 respondents expressed interest in investing overseas, with Singapore, Australia, the UK, India and Indonesia as the top five preferred destinations.

Meanwhile, more property seekers in Malaysia have become optimistic towards housing affordability in the country.

“HomeGuru, via the Q3 Sentiment Survey, has discovered that there is a 10 percent decline in respondents who believe that property in Malaysia is too expensive, indicating that buyers are more confident about being able to afford property purchases,” said Steven Tan, Country Manager of HomeGuru.

While the 1Malaysia Housing Programme (PR1MA) has garnered positive feedback, 63 percent of respondents feel all property types in Malaysia are expensive, compared to 73 percent in Q2.

An average of 27 percent believed bungalows, terrace / link houses, apartments / condominiums, townhouses and SOHO (small office home office) units are affordable, while 78 percent felt bungalows are very expensive.

Source : PropertyGuru – 23 Nov 2011

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