Another piece of interesting news, highlighting the new property growth areas in the capital of Malaysia. This goes to show the trends in the property market in Malaysia.

Read on for the whole picture of the property trend.

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PROPERTY-GROWTH

KL, KLANG AND KLIA TO BE NEW PROPERTY GROWTH AREAS

PETALING JAYA, June 19 (Bernama) — Kuala Lumpur, Klang and the Kuala
Lumpur International Airport (KLIA) will be the new growth areas of the
property market in the Klang Valley, according to a property research
services company.
These areas will see active development as the authorities planned to
broaden the economic base, said Research Inc (Asia) Sdn Bhd’s managing
director Datin Adila Lim Lay Ying.
Currently, the high growth areas were Kuala Lumpur, and northern and
southern Klang, she said at the “Property Trends and Market Outlook for
Klang Valley” seminar organised by the Real Estate and Housing Developers’
Association Malaysia, Kuala Lumpur branch, here today.
“The focus in years to come will be Kuala Lumpur, Klang and KLIA. There
are many opportunities for the development of housing, industrial and
leisure properties in these areas moving forward,” Lim said.
She said there were ongoing efforts by the government to set up tourism
strip and biotech clusters in the areas concerned, which would offer new
opportunities for housing, commerce, industrial and leisure development
projects.
On the outlook of the Malaysian property market this year, Lim said the
market was expected to be bullish, supported by feel-good internal factors.
She cited the recent removal of the real property gains tax (RPGT), the
lifting of Foreign Investment Committee approval, removal of the limit of
the number of property loans allowed for non-residents and the introduction
of the Malaysia My Second Home programme as factors boosting the local
market.
She said the residential sector was expected to continue dominating the
transaction volume of the property market.
About 65 percent of the total transaction volume in the Malaysian
property market last year came from the residential sector, she added. —
BERNAMA