Singaporean Property Buyers Find Malaysia as Their Third Favorite Real Estate Investment Destination

KUALA LUMPUR: Malaysia is the third most popular destination for Singaporean buyers, accounting for 13.2 per cent of their purchase enquiries this year.

In a recent report by Juwai IQI, Malaysia emerged as a compelling choice, accounting for 13.2 percent of purchase inquiries from Singaporean buyers. The proximity and economic ties between the two nations play a pivotal role in this trend.

Kashif Ansari, co-founder and CEO of Juwai IQI, emphasized Malaysia's appeal, citing the ongoing Singapore Rapid Transit (RTS) project. This project, already over halfway completed, is set to facilitate the movement of 10,000 people per hour between Singapore and Malaysia. It's anticipated to significantly drive Singaporeans to consider Johor Bahru for either primary or secondary residences.

IQI's data further solidified this trend, showing a notable 17 percent increase in Singaporean buyer transactions in Johor Bahru during the first quarter of 2023 compared to the previous year.

Ansari shed light on the motivations driving Singaporean investors abroad, attributing it to their cultural inclination towards real estate investment and their abundance of capital. With a small domestic market, substantial wealth, and a global outlook, Singaporean investors seek diversification, currency advantages, lower transaction costs, provisions for overseas education, and second homes for retirement or vacations.

Interestingly, while Australia and Thailand retain their positions as top destinations for Singaporean buyers, Malaysia's ascent to the third spot underscores its growing allure.

As the real estate landscape evolves, it's worth contemplating: where might Singaporean property buyers turn next, and what could drive their choices in the ever-changing global property market?

Property Genie, a leading property listings platform, serves as a window into this shifting landscape, connecting buyers with diverse real estate opportunities, including Malaysia, reflecting the evolving trends in property investments.

As the global property market continues to transform, keeping an eye on the shifting preferences and investment strategies of Singaporean buyers may provide insights into the future of international real estate investments.

source - New Straits Times