Malaysians are taking advantage of favourable exchange rates to buy properties abroad, especially in Britain and the United States where the value of sterling and the dollar has declined over recent months.
Apparently several major estate agents who market international properties have noticed the number of Malaysian buyers has been increasing steadily over the last three years, with figures peaking during the first six months of this year.
It's not just favourable exchange rates which make overseas property so attractive to them, as property prices in Malaysia are soaring, especially in the major cities and towns. This has led those with cash to spare to look towards other countries where prices have dropped significantly over the last few years, and which offer much better value.
London is perennially popular, as are university towns in the US as they offer great rental potential. Properties in Florida, Michigan and Las Vegas are proving to be very popular as they yield higher returns, especially in the case of Florida and Michigan, as both these states have a high student population.
Most Malaysians are buying property for rental purposes, although they are able to stay in the country so long as they have the necessary visa.
Australia is also proving popular, in spite of the strength of the Australian dollar, as the property market is seen as being stable and offering good returns on investments.
The country is proving to be particularly popular with young Malaysian professionals who are looking to diversify their investments and achieve early financial freedom. The majority of properties sold to overseas buyers cost between AU$500,000 and AU$800,000.
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