Property investors turn to Malaysia, SE Asia amid Hong Kong unrest | Malay Mail

Hong Kong’s property market is one of least affordable in the world with sky-high prices fuelled, in part, by wealthy mainlanders snapping up investments in a city which has failed for years to build enough flats to meet demand. — Reuters pic

Property stocks in one of the world’s most expensive housing markets have plummeted since June, with developers being forced to offer discounts on new projects and cutting office rents. “People are thinking about how to quicken their ideas, how to make a more stable life,” the 55-year-old told AFP.The Malaysia site of South-east Asian real estate platform Property Guru has seen a 35 per cent increase in visits from Hong Kong, according to its CEO Hari Krishnan.

There has been a jump this year in sales of luxury apartments in the city-state — which like Hong Kong is known for pricey property — driven partially by mainland Chinese buyers, according to the consultancy OrangeTee & Tie. There are further signs the stable, tightly ruled city is benefiting from the Hong Kong turmoil — Goldman Sachs last week estimated as much as US$4 billion flowed out of Hong Kong to Singapore this summer.“Hong Kong property share prices have corrected by about 15 to 25 per cent since July,” said Raymond Cheng, head of Hong Kong and China property at CGS-CIMB Securities International.

Property investors should be careful because investing in Malaysia property does not give u any legal right to any type of long term visa. Pls do ur research properly before investing. Some friends of mine learnt it hard way. Very hard to get any visa in Malaysia.

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