Taking advantage of the weaker ringgit that declined 2.7 percent in the past year, more Singaporeans are buying properties in Malaysia.
Based on the figures from Malaysia Property Inc, an agency that promotes the country’s real estate abroad, showed that total transaction value of property had increased 28 percent from RM107.4 billion in 2010 to RM137.8 billion in 2011, of which two percent accounted for foreign investments.
Local agents have also increased their efforts to attract Singaporeans to invest in Malaysian property through heavy advertising, road trips and roadshows.
According to Propnex, Singaporeans have purchased around 50 units in the second quarter of the year, doubling purchases in the first quarter.
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