Malaysia's low property prices are luring investors from Singapore, according to PropertyGuru.
The property portal's Malaysia Property Show returned this month to Singapore, CEO Steve Melhuish announced.
"Prospective investors and homebuyers can expect to view the latest property projects from 10 major Malaysian developers including Andaman, UEM Land, Plentitude, Sime Darby Property, MRCB, The Haven, Denia Developments, Pulai Spring, Tanah Sutra and Encorp Iskandar," read an official statement.
"Our previous two Malaysia Property Shows were very well-received with over 1,400 visitors contributing total sales worth RM44.5 million."
The main reason for the demand? Affordability, Melhuish told The Edge . Speaking to the magazine, he said that the comparatively low cost of maintenance and purchase makes the market a "tenable outlet" for investment.
Indeed, according to the 2011 Wealth Report, Singapore's luxury real estate is worth around $2,518 per square foot, five or six times more expensive than that in Malaysia. The strength of Singapore's currency has boosted interest still further, with one Singapore dollar able to fetch 2.5 Malaysian ringgit.
Johor is a popular hotspot with buyers, adds The Edge: "Soaring home prices and overcrowded roads in Singapore have made living in Johor a more attractive prospect for many Singaporeans and expatriates, even with the risk of crime and the inconvenience of crossing the border everyday."
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