Malaysians are now the third-largest Asian investors in UK and AU
Refer from http://www.property-report.com/malaysia-zooms-up-to-be-the-third-largest-asian-investor-in-uk-and-au/
But still a long way off the top spotA recent report from Knight Frank has found that Malaysia has been the third largest Asian investor into the Australian and United Kingdom’s property markets in the last two years.
The country follows Singapore in first place, and China in the runner-up position.
Malaysia’s investments accounted for USD5.61 billion, while China’s were worth a total of USD22.09 billion and Singapore USD25.10 billion.
In total, Asian property investment in the United States, UK, Europe and Australia since Q3 2013 have totalled USD78.4 billion.
The UK, in particular, has been responding proactively to the interest from Asia with one investment company even taking their plans on a two-week road show around Singapore, Hong Kong and Malaysia, reports the South China Morning Post.
London Central Portfolio (LCP) have announced plans to raise USD150 million from Asian and Chinese investors to buy up 100 prime central London residential units in iconic buildings around the British capital, targeting property offering 12 percent annual returns.
“Affordability is not an issue and will not be for some time to come. With over 13 million high net worths around the world and just 5,000 sales a year in London, it is the scarcity of stock and the constant global demand that underpins future price growth potential,” explained LCP chief executive Naomi Heaton in Hong Kong, on the decision to target Asian investors.
Malaysians have invested USD2.23 billion into UK property in the last two years.James Buckley, executive director of Knight Frank, commented that Malaysia’s overseas property investment has been “incredibly active” but is now at risk of slowing down thanks to the weakened ringgit.
“There is a strong desire from Malaysian investors to diversity their wealth into overseas markets. There has been a slight shift in outbound capital, with Malaysian investors focusing more on the Australian market compared with the UK.
“This has largely been driven by the value of the Malaysian ringgit relative to the Australian dollar, which has weakened 6.6 percent versus 24 percent relative to the pound sterling,” he added.
Image is by barony and is used under a Creative Commons licence
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