A Quick Update on Malaysia Property

Following the strings of Malaysian Government effort announced earlier in the year in stimulating Malaysia property market, ever wonder how effective have these initiatives been? Let's take a look at a recent survey conducted by the Real Estate and Housing Developers' Association Malaysia (Rehda) and you could see that the outcome seems highly encouraging. The survey was conducted between April 21st and May 8th 2007.

According to the survey, enquiries from foreigners had increased by 10% while those from locals 35%. Sales of property to foreigners and locals increased by 8% and 32% respectively.

In another event, A South Korean company has bought an entire condominium block for RM64mil (USD19m)! The property is located at Bukit Jalil, Kuala Lumpur. The entire deal was sealed on May 8 2007. The condominium would be redesigned to suit the taste of the Koreans. It appears that they are on the lookout to purchase another block of condominium.