I read an article today which claims as below...
"Meanwhile, Malaysia Property Incorporated (MPI) said only up to three per cent of property investors in Malaysia are foreigners."
Let me ask a few questions:
- Is Malaysia yet a main destination for foreigners (high income) seeking work or as an alternative place to stay? How successful is our MM2H?
- Is Malaysia yet a strong education hub? Look at performance of the education sector (colleges and universities) such as HELP, Paramount. The strong performance are due to strong interest in private and international schooling, not foreigners looking at Malaysian universities or colleges.
- Are we there yet in terms of safety?
- Is Malaysia a destination for hot money flowing in? Or rather flowing out!!!
- MYR cheap? MYR will always remain to be cheap. What is the prospect of Malaysian Ringgit over a horizon of 10 years? Will Malaysian Ringgit outdo other regional currencies such as SGD or RMB or even Aussie Dollar?
- What makes Malaysian property hot - speculation? Or investments i.e. including for stay?
- Will interest rates remain this low over the next 5 years?
- There is a reason why Singapore and Hong Kong are trying to cool down their property prices despite the much liquidity in the market. It is hightime we do the same rather than continuing to provide more liquidity to the property market as in what the government is doing. One can't provide more than 100% loan to a buyer. That's the limit.
- Iskandar? Singaporeans are buying for investments, speculation or stay? Will there be a third, fourth or fifth link into Singapore. MRT right through Iskandar as mentioned or planned. Has anyone thought of the security concerns and checks that Singapore does to its visitors? Has anyone gone through the Singapore security checks especially peak hours? Will there be bottlenecks for daily travels into Singapore? If Singapore is ever willing to do connections like Hong Kong Island and Kowloon or Manhattan and New Jersey then ISkandar will thrive. Travel has to be seamless. Can that happen with Singapore? If there is a bottleneck getting in and out of Singapore, then I am doubting that Iskandar will be hot over the longer term. For Iskandar to succeed, Singapore government's mindset has to change - not just Malaysia.
- Schooling. Singapore's children studying in Malaysian schools in Iskandar? Have you seen the number of Malaysian children commuting to Singapore for schooling everyday? They basically travel into Singapore through the causeway before 6 am every morning. With Singaporean buying properties for stay in Iskandar - that will reverse? I think Singaporeans have much trust in their own public schools than our private schools - at least for now...
Note who all the interviewees are for the article...they are all industry players with vested interest.
Eye on Malaysia as HK, Singapore curb property investments
KUALA LUMPUR, Feb 19 — Iskandar Malaysia, Kota Kinabalu, Kuala Lumpur and Penang are set to become hotspots for foreign property investors as the Hong Kong and Singapore governments “cool” their respective overheated property industries.