MRT project to see investor appreciation

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KUALA LUMPUR: The Mass Railway Transit (MRT) project will boost foreign investors influx of investments aimed at industries in the vicinity of MRT stations.

Pua sharing his view on the MRT project during his talk titled “Why invest in property?” at the Penang Premium Property Showcase.

In the near future, it is expected that developers will raise more development projects in the vicinity of the MRT station, said Ronald Pua Eng Teck, financial controller of MPI.

He pointed out that Malaysia My Second Home Programme (MM2H) continues to fuels the influx of more foreign investors.

“Based on data, the numbers of investors under the MM2H programme are the highest from China, followed by Japan and other nation including Bangladesh, Indonesia, Korea andf Macau.

“I believe the data will continue to rise,” Pang revealed.

This was highlighted during the FIABCI Asia Pacific talk with the subject, “Why Invest in Real Estate.”

Pua pointed out that the Chinese foreign investors sees Malaysia as a very livable country. The housing appreciation rate close to the MRT station, schools and other are relatively quicker, although the Malaysian property are on the rise.

“In Singapore, China, Hong Kong and other countries, housing prices have high rate of returns but these are not necessarily optimistic.

“Malaysia on the other hand experiences trade freedom, political stability, fixed returns, the general rate of return is as high as five to six per cent – all these determine that Malaysia is a good market for property investment.”

Pua said the MRT Line 2 will bring Cyberjaya to become another hot spot for investment, where Chinese foreign investors are particularly keen on local development. Many foreign investors are targeting their investments into Malaysian potential hotspots.

He is also optimistic about Tun Razak International Trade Centre (Tun Razak Exchange) which is ideally located in front of the MRT station, covering the overall development of government departments, business centers, the future is expected to become an international financial center in Malaysia, and even boost the housing industry in the vicinity.

He also warned the public that in April next year , The Goods and Services Tax (GST) will be implemented, which will result in pricier building materials, and these costs will be passed on to consumers who buy houses with a heavier burden.

“Sabah and Kuala Lumpur property prices are comparable to the standard of living in Kuala Lumpur.

“However there are wealthy Sabahans, hence even though property prices are high there are high demand for properties there, I believe Sabah will be another industrial area “rising star,” Pua said.

He hoped that developers could steer Sabah into another great potential for local development investments stronghold.

The Malaysia Property Award is the gold standard for distinguished developers and owners in the real estate industry.

The Malaysia Property Award 2014 will be held at OneWorld Hotel on Nov 7. Oriental Daily is the exclusive Chinese newspaper to the coveted event, while Maybank is the main sponsor.