Singaporean investors step up malaysia surge

Singaporean international property investors are continuing to buy residential developments in Malaysia, as reported by OPP in November and December.

The Malaysia-based developer Eastern & Oriental, for instance, has seen a 20% surge in enquiries for its new Penang project from Singapore-based residential buyers such as Soh Poh Neo, who has been investing in properties in the US and Singapore for the past 20 years.

Today, she is investing in Malaysia and has bought two luxury apartments at the Andaman at Quayside condominium development in Penang because, she told OPP, “I cannot find this sort of project in Singapore.”

The development has sea-front views and, despite the fact that the building will not be completed till 2013, prices have already gone up by more than a third. Also, Soh added, Penang has excellent economic prospects.

Source: OPP.org.uk