Category: Europe

Now Malaysian speculators snap up properties in London

An informed source has revealed to me that at one upmarket seafront apartment suites complex in northern Penang Island, the actual occupancy rate is just 10 per cent, even though the apartments have been sold out.

Contrary to popular belief that much of the property speculation/investment in high-end properties in Penang is by foreigners, the rough breakdown by nationality of owners of these particular apartments is as follows:

  • Malaysians based in the country (60 per cent),
  • Malaysians residing/working abroad (20 per cent), and
  • foreigners/others (20 per cent). (more…)