INTRODUCTION
In recent years, rapid economic development has resulted in an increasing demand for residential housing among urban areas in Malaysia. Reviewing the housing prices in Malaysia, the prices have appreciated dramatically whether in major cities or smaller towns and depending on specific location. Malaysia No.1 property portal, iProperty.com Malaysia revealed that Malaysians are unfazed by the economic cycle and continue to remain optimistic about the housing market. Comparing with the housing prices with many Western Countries and Malaysia neighbouring countries, the housing market is still offered comparably low property prices as well as price per square foot. In addition, Malaysia offers the lowest average price per square feet for house if compared directly with Asian Neighbouring countries, aside from Indonesia. The Malaysian Valuation & Property Services Department General Director, commended at the Property Market Outlook for 2011 that the recovery of the Malaysian economy has reinvigorated the overall housing market. In 2011, the value of transactions increased at a higher rate of 35% from RM71.67 billion to RM 96.77 billion. In the residential market, transactions in Kuala Lumpur recorded a transaction growth of 8.2%, Selangor 7.2% and Penang Island 9.7%. Due to recent government policies and strong economic climate to encourage foreign investment in housing market in Malaysia, numerous worldwide housing investors are now looking to Malaysia as a lucrative housing market in which to invest.
INTRODUCTION
In recent years, rapid economic development has resulted in an increasing demand for residential housing among urban areas in Malaysia. Reviewing the housing prices in Malaysia, the prices have appreciated dramatically whether in major cities or smaller towns and depending on specific location. Malaysia No.1 property portal, iProperty.com Malaysia revealed that Malaysians are unfazed by the economic cycle and continue to remain optimistic about the housing market. Comparing with the housing prices with many Western Countries and Malaysia neighbouring countries, the housing market is still offered comparably low property prices as well as price per square foot. In addition, Malaysia offers the lowest average price per square feet for house if compared directly with Asian Neighbouring countries, aside from Indonesia. The Malaysian Valuation & Property Services Department General Director, commended at the Property Market Outlook for 2011 that the recovery of the Malaysian economy has reinvigorated the overall housing market. In 2011, the value of transactions increased at a higher rate of 35% from RM71.67 billion to RM 96.77 billion. In the residential market, transactions in Kuala Lumpur recorded a transaction growth of 8.2%, Selangor 7.2% and Penang Island 9.7%. Due to recent government policies and strong economic climate to encourage foreign investment in housing market in Malaysia, numerous worldwide housing investors are now looking to Malaysia as a lucrative housing market in which to invest.
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