For the past few weeks, there has been many articles written about how the attractiveness of properties in Malaysia, Singapore and Bangkok has increased for Hong Kongers. The reason is because of the current demonstration issued plaguing Hong Kong at the moment. Earlier article here: More interest from HongKong buyers?
My friend from Hong Kong has also asked for my opinions on Malaysian properties. Of course I give her a glowing report on what she could afford to buy here as well as the fact that she will feel at home because Cantonese is widely spoken and she will not be the first few who are thinking of Malaysian properties. So many have purchased properties here: Hong Kong star with 4 properties in Malaysia It seems that our Housing and Local Government Minister Zuraida Kamaruddin is taking an even bigger step to promote Malaysian properties in Hong Kong and China.
Article in thestar.com.my Housing and Local Government Minister Zuraida Kamaruddin is mulling the possibility of marketing RM100bil worth of unsold high-end houses to buyers in China and Hong Kong. She shared that the Home Ownership Campaign could be launched in China or Hong Kong to overcome a high-end unit glut in Malaysia. She said, “We can attract investors to buy homes here, as the units here are much cheaper than those sold in Hong Kong, which cost about RM3mil for a mere 250 sq m flat.” She mentioned that she will seek Cabinet’s approval after discussing the matter with Tourism, Arts and Culture Minister Mohammadin Ketapi. (If it’s about MM2H, I think it’s time we decide if we want to enhance this or just want to change it. )Full article with more references here: Article in thestar.com.my
Two important things we should take note yeah. Hong Konger property investors are savvy enough to understand that price is not the key issue yeah. Thus, we need to go to them based on attractiveness of the whole package that Malaysia has to offer and not just because our properties are cheaper than Hong Kong. Tell them about the business climate (we are a top 25 most competitive nation in the world). Tell them about the people (2nd friendliest in the world… read here) and tell them about all the food, the places they could visit and many more. Price is secondary when they know what they will get here in Malaysia.
Second thing to note is that this promotion of the Malaysian property market should be on a continuous basis and not when Hong Kongers are thinking about moving or when our property market has unsold properties. All the best dear minister. Thank you for the effort.
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