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Cheap Flights Boost Kuala Lumpur Property Prices
July 20, 2009Article by Ray Withers
Kuala Lumpur property is taking off as a hot destination thanks to the success of high-flying Air Asia.
The airline started flying from London to the Malaysian capital for just £160 one way in March – and the service has been such a soar away success that a second Airbus doubling capacity and enabling daily flights has been added to the route.
This is good news for UK investors looking to invest in Kuala Lumpur as the city is becoming a hub for cheap Air Asia flights to hundreds of exotic flights all over the Far East for just a few pounds – for instance Bangkok for from just £9 one way and Bali from £22 one way.Conversely, the flights are bringing more tourists in to Kuala Lumpur – and tourism is one of the big drivers for a thriving property market and rising home prices.
Nick Barton, Stansted’s commercial and development director, said: “AirAsia X’s service between Stansted and Kuala Lumpur has been a fantastic success story so far.”Kuala Lumpur sellers are finding more and more buyers are looking for apartments in the city as second homes or holiday lets for stay-over tourists.
Although the Malaysian property market has taken a dive in line with the rest of the world in the recession, Far East economies are holding up much better than those in Europe and the USA. Property prices have dropped far less and experts predict countries like Malaysia will come out of the recession quicker and financially stronger than those in the west.
New apartments are available in Kuala Lumpur within an easy drive of the airport.Prices have held as the government has controlled new build development and not allowed the market to be flooded.
Apartments in Kuala Lumpur, just a few minutes travelling distance from the business district and city centre, are available from UK based international property consultants Property Frontiers at Axis Pandan.
Essentially, Axis Pandan is two developments –midmarket Axis Residence Deluxe, Kuala Lumpur and Axis Crown Premier, Kuala Lumpur.
The premier provides a luxury living space with fantastic views over the city and the nearby Royal Selangor Golf Club.The developments stand atop of the region’s largest shopping mall Apartments are turnkey developments, delivered ‘ready-to-let’ and offering gross yields of about 8%.Investors can buy in to the Axis projects with 60% loan-to-value mortgages for just £19,000 cash plus purchase costs. Prices start at £50,000 for a two-bedroom apartment.