Recent couple of weeks, we have been reading many news about the interest of Hong Kong buyers with the Malaysian property market. Just recently: Hong Kong buyers buying 50-100 Malaysian properties weekly (click to read) According to one latest article quoting the Malaysian Institute of Estate Agentc (MIEA) CEO, the interest has slowed down with every passing month. This was because the Hong Kong buyers came here because of issues at their home and not because Malaysia is a property market they traditionally has been buying.
Article in themalaysianreserve.com Malaysian Institute of Estate Agents (MIEA) CEO Soma Sundram Krishnaswamy said “Based on the feedback from MIEA members, there was a big influx of Hong Kong buyers into Malaysia, (but) right now after a few months, it has slowed down.”
Jones Lang Wootton ED Prem Kumar explained that Hong Kong buyers come to Malaysia because of what happened there and not because it has been a traditional foreign market in Malaysia. He said, “That trend is continuing. How long it is going to continue is depending on the situation in Hong Kong. If the situation improves, we might not have that kind of influx anymore.”
Soma added however that the influx of China buyers coming into Malaysia will continue. He said. “There is one project targeting China buyers into Malaysia. That is the trend. I think China buyers will come because there is too much money in the country.” There are more details. Please refer to: Article in themalaysianreserve.com
Okay, lower interest from Hong Kong buyers now if we compared then and today. It may mean that many months back, the buying was even higher than today! By the way, I do not wish Hong Kong buyers are buying us simply because of bad things happening there. I prefer them to think of Malaysia as a great place to stay and that they would prefer to stay here versus other more advanced property markets. Expats are happy in Malaysia. Of course. I do want to visit Hong Kong in the next few months with my family. Have already checked the flight tickets. Looks like there has been some droop. Happy following.
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