Malaysia’s condo prices will likely reach RM5,000 psf within the next five years, said Gavin Tee, Founding President of SwhengTee International Real Estate Investors Club (SwhengTee REI Club).
“We are experiencing exciting times in the real estate market. The greatest opportunities in property investment will take place in Malaysia this year,” said Mr. Tee at “The Best, The Worst, All in 2011” property investment seminar at the Grand Dorsett Subang Hotel in Subang, organised by SwhengTee REI Club.
Kuala Lumpur’s property market would have matured and reached the highest point by 2010, he said, adding that Malaysia’s tourism-related properties would become the most expensive by 2018.
Mr. Tee also expects that Iskandar Malaysia will have the second highest real estate values after Kuala Lumpur by 2016.
With condo prices hitting RM2,900 psf and land prices reaching RM7,209 psf in the Golden Triangle, along with the various development and infrastructure works happening within the surrounding areas, luxurious condos will likely escalate in the next five years.
Mr. Tee also identified hotspots for Klang Valley, including Bukit Jalil / Equine, Ulu Klang / Melawati, Sungai Buloh, U-thant, KLCC Luxury Apartments, Sentul, Maluri/Cochrane and Bukit Bintang/Jalan Stoner.
He also recommended Klang, Muar, Ipoh, Kuantan, Cyberjaya, Iskandar Johor, Malacca, Penang and Kota Kinabalu.