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Malaysia House Prices Hold Steady
May 29, 2009Article by Ray Withers
Malaysia property investment is standing up well to the battering house prices are receiving in other Asian countries.Japan, Singapore and Hong Kong have suffered the worst with an 83% quarter-on-quarter drop in sales.Property in Malaysia and Indonesia came out best over the past few months – experiencing property price falls of up to 25% over the past few months, with markets remaining more or less stagnant in comparison with the huge falls elsewhere.
The news was released as the Cityscape Asia property investment conference opened in Singapore and made poor reading for many delegates looking to sell or raise cash.Thailand in particular has suffered in the region as investors have virtually pulled out pending how the current civil unrest and government troubles unravel. Banks are also unwilling to lend until the country’s economic and political stability is sorted out.
Similarly, Hong Kong investors have found finance has dried up, even though property is available at below market value prices.
Plenty of reasonable priced investment property is available in Malaysia.Typical investments include a range of apartments in Kuala Lumpur, just a few minutes travelling distance from the business district and city centre a portfolio offered by UK based international property consultants Property Frontiers:
Axis Pandan is two major developments – the midmarket Axis Residence Deluxe Kuala Lumpur , a 33-storey serviced apartment block including pools, gym and a sky lounge and the top-of-the –market Axis Crown Premier, Kuala Lumpur offering luxury living in a prime location with fantastic views over the city centre and the Royal Selangor golf club.The street levels of the blocks house the region’s largest shopping mall.
All apartments are delivered in a ‘ready-to-let’ offering gross yields of more than 8% and with 60% loan-to-value mortgages. Investments are available for just £19,000 cash plus purchase costs. Prices start at £50,000 for a two-bedroom apartment.
Sunway Vivaldi Mont Kiara is a six tower block development of 228 apartments over 7.7 acres.
The apartments, due for completion in 2011, will be finished to luxury standards. The investment offers a range of spacious four bedroom apartments, all over 3,400 square feet. Finished to the highest standards, each bedroom has its own en suite bathroom.
To sweeten the investment, add to that, a 10% reduction on launch prices, a 75% loan-to-value mortgage and guaranteed yields of 7%, for four bedroom apartments starting at £545,000.