Malaysia to see a surge of investors

Stability and affordability combined with the creation of new jobs means that an increasing number of investors are looking to buy property in Malaysia, one consultancy has suggested. Knight Frank has forecast a jump in the number of buyers as a result of ex-pats and investors moving to the country to work for the new Economic Transformation Programme (ETP). "The expatriates will be here for the duration of the projects such as the Mass Rapid Transit, among others. They would need a place to stay," Eric Ooi, managing director of Knight Frank Malaysia, told New Straights Times Property Indeed, Mr Ooi said that he expects more than 15 per cent of luxury property purchases in Malaysia this year will be by foreigners. Buyers from Singapore, Hong Kong, Indonesia, Taiwan, South Korea and Japan are buying condos, apartments and bungalows in the Kuala Lumpur City Centre, Bangsar, Mont' Kiara and Kenny Hills areas, he added.