Melaka is not a main property play for many. In fact that question of buying Melaka properties is often a secondary item, behind Klang Valley, Iskandar, Penang and even Kota Kinabalu for some. Actually, I think every market has its attractiveness and the fact is that when the primary ones move up, the secondary ones would follow too. My earlier article about Melaka is here: Reasons, Numbers and Potential from my latest Melaka visit Come on, nothing ever happens in Ipoh even if there are now more flights. The only reason why property prices in Ipoh is rising is because the major ones were rising to new highs and thus those in Ipoh followed suit when the buyers happen to be from out of Ipoh.
Anyway, it was announced recently about the potential for Melaka to be an international sea port by 2025 with investments from the Guangdong provincial government to construct harbour facilities. Its Chief Minister Datuk Seri Idris Haron said that once this huge investment is realised, Melaka will be recognised as the largest port in this region. Objectively, shipping lines along the Malacca Straits would definitely pass by Melaka, whether it’s before reaching the Singapore port or after the Singapore port. Either way, harbour facilities would be a great addition. Guangdong governor Zhu Xiaodan had also expressed interest during his working visit to Melaka in turning the man-made Pulau Melaka into a tourist port project as well as to cater to the needs of the maritime industry.
The world is investing in China which is already the second largest economy and the largest foreign reserves in the world. As China strives to play its part as an economic superpower and the big brother in ASIA and the world, Melaka would definitely welcome such interest and the potential investments. Perhaps a continuous update about these catalytic and huge foreign direct investments would really give the Melaka property market more confidence. Let me visit Melaka a few more times to feel the vibrancy and avail myself to more nyonya food before I write an update in the near future.
written on 1 Oct 2015
Next suggested article: Melaka: Slow, steady and coffee