In the corporate world of different products and services, the formula for VALUE is as follows: Value = Benefits – Cost. In other words, Value is how much we are willing to pay versus the benefits we think we will get. This is why we must not be pitching any products or services based on price. It’s clearly not sustainable. So, when we focus on the benefits instead, it may be something which our competitors may not have. Many companies survive by focusing on the niche markets too.
What about the Malaysian property market? I would like to warn that if it’s just because of price, then attracting all these foreign buyers will be a risky move. There are easily cheaper properties elsewhere. By the way, the properties in many advanced property markets such as Singapore, major Australian cities and even London is no longer cheap by any standard. However, the price seems to be well supported because it was not bought because it was cheap. Coming back to Malaysia. It seems to be a good year for us in 2020.
Article in nst.com.my CHINESE international property portal Juwai.com executive boardmember Kashif Ansari said that stronger interest from foreign buyers are forecasted for 2020. Currently, mainland Chinese buyers accounted for RM8.4 billion (US$2 billion) of total Malaysia residential property sales per year, and less than one per cent of all transactions.
In Q3 2019, Chinese buyers made 16.5 percent more enquiries on Malaysian property versus the same quarter in 2018. Within first half of 2019, Malaysia was the 5th most popular for Chinese property buying inquiries in the world. He said, “Malaysia is especially appealing to buyers motivated by lifestyle, retirement, or education. It has affordable standards of living, high quality of life, medical facilities, and accessible educational institutions. Malaysia consistently ranks among the best places to live.” Please refer to the full Article in nst.com.my
Please do look at all those reasons why the buying a property in Malaysia is attractive. Lifestyle: We definitely have it and at a lower cost too). Retirement: This has always been a major plus point, there’s no need to keep rushing here and there). Education: Where else can any student gain a similar degree from the UK, Australia, the US by just completing their studies here?)
Back in the year 2000, my Japanese GM in the first company I worked for told me that it’s cheaper for Japanese to travel here for medical operations / treatment versus Japan even after the patient has included the cost of treatment, flight tickets, the accommodation and even golfing rounds. This is what Malaysia has to offer even in 2000 when it comes to medical tourism. Oh yeah, if one wants to go golfing, they need to make the booking months ahead. Yes, if the foreigners are buying for all the right reasons, please come yeah. Happy understanding.
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