Malaysian property 'most undervalued in South-East Asia'
03/04/09 15:28
Expatriates tempted by moving to more exotic locations will find property in Malaysia the most undervalued in South-East Asia, claims an industry expert.
According to Christopher Chad, head of research at developing market support firm Property Frontiers, Malaysia has defied the worst of the recession and remains a "fantastic" country in which to invest, Propertyshowrooms.com has reported.
Mr Chad admitted that the country's housing market and economy had taken a "slight" downturn.
However, he noted: "We believe the market remains undervalued compared to the rest of South-East Asia."
Property Magazine Homes Overseas said that Malaysia is experiencing major development and its tourist, residential and commercial property markets are strengthening.
In a further attempt to attract expatriate investment, the Malaysian government has launched its 'Malaysia My Second Home' scheme and eased foreign ownership restrictions.
A Royal Institution of Chartered Surveyors report from 2008 noted that outside of the capital, the average property price in Malaysia was around £30,000.
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