/// International Property News
Short-Felt Impact on Property From Missing MH370
both developers and house
buyers to go overseas.”
A Wall Street Journal blog
China Real Time reported
that the shift in mood has
started to worry some
Chinese developers who
have substantial investment
building houses in Malaysia
to sell to mainland Chinese
investors. Property is among
their favourite investments.
The Malaysian property
sector may be affected in
the short-term as a result of
the missing flight MH370 but
the market is expected to
bounce back in the medium
to long term, according to
two developers and two
property consultants.
Kumar Tharmalingam,
chairman at property
consultancy Hall Chadwick
Asia said: “It may not even
be a blip on the radar.”.
“If the matter drags on, the
effect on sales will be much
longer,” said a source in a
text message.
The MH370 effect has come
into focus as a result of
strong Chinese interest in
the last few years.
Chinese developers
have bought land here
while individual Chinese,
deterred by anti-speculation
measures in Hong Kong,
Singapore and China, are
buying Malaysian propertie.
Country Garden Holdings
Co planned to build 9,000
condominium units in
Iskandar Malaysia, Johor.
Other Chinese developers
included Guangzhou R&F
Properties Co Ltd and Agile
Property Holdings Ltd with
a combined investment
of US$2.7bil [