Hartlepool, United Kingdom (PressExposure) January 12, 2009 -- The recent massive changes in global exchange rates have made Malaysia an even more favourable location to invest in for British buyers. Liam Bailey, chief market analyst for overseas property portal Property Abroad stated that some properties in Malaysia can now be bought for up to Â£30,000 less than they could when they were launched, in the rest of his statement he said:
"But it is not just exchange rate fluctuations that make Malaysia an attractive market, we are currently listing the Axis development, with 2 bedroom apartments in Pandan, Kuala Lumpur for just Â£57,650, now if that was launched say 6 months ago, the prices would have been twice that, and the growth potential will be equal to what it was then when the markets begin to recover -- if not better. One thing I will say to prospective overseas property investors, and not just in Malaysia, is find out the price of the property in its local currency, and make sure it matches the price you have seen it at in pounds. I have come across several properties lately that need their price in sterling changed to match the new exchange rate."
One Malaysia development on the Property Abroad website clearly displays the bargains that the currency fluctuations present, as well as, "the fact that high-end properties in Kuala Lumpur are still holding their prices," according to Bailey.
The lowest priced four bedroom apartment in the Vivaldi development as listed on Property Abroad is priced at Â£545,000. But in Malaysian Ringgits the price is 2.6million, which currently converts to just Â£515,000, which means the apartments are actually Â£30,000 less than their advertised price.
Of course, buyers pay the Malaysian Ringgits price, in whatever it exchanges to at the time the order goes through Property Abroad to the developer, but this is why buyers should check the sale prices; as some third-party agents may not be as honest as those working with Property Abroad. It would simply be silly to change the advertisements on every portal every time the exchange rate for every currency changes -- especially now.
The development mentioned above as being launched at prices up to 50% less than it would have been 6 months ago is the Axis development, offering 2 bedroom luxury Kuala Lumpur apartments, in a 5 star sky-scraping resort development from just under Â£58,000.
The above benefits are of course on top of the existing benefits of buying property in Malaysia, like no capital gains tax and no inheritance tax, as well as the extra benefit for English speaking, and especially British buyers: the fact that all contracts are in English and the buying process is almost identical to that of Britain. This is of course because Malaysia is an ex British colony.
About Property Abroad
Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.