Malaysians among top five buyers of London properties
KUALA LUMPUR: Malaysian investors, being among the top five largest investors in London property market, are looking at the real estate market in other European countries, Knight Frank international capital markets head Jeremy Waters said.
"In the long run, the investment trends are seen to shift to other parts of Western Europe and we can see more Malaysians having properties in France and Germany."
He noted that Malaysians preferred the commercial real estate market, which offer lucrative annual returns of between six and seven per cent.
However, he said Malaysian investors will remain focussed on the London property market despite concerns about the long-term strength of the market there.
Waters was speaking to reporters at the launch of Knight Frank's "Global Investment Report" here yesterday. Also present, were Knight Frank Malaysia managing director Sarkunan Subramaniam, Knight Frank global head of capital markets research Darren Yates and Knight Frank head of research for Asia Pacific Nicholas Holt.
Waters said Malaysians were keen to invest in mixed development such as residential and commercial properties. Malaysians perceived the UK as a safe haven and were comfortable with the policies and laws of the country.
Meanwhile, Sarkunan said cooling measures introduced in the 2014 Budget last week will not bring down prices of residences in the country.
"We will have fewer transactions but we do not see prices coming down due to the cooling measures," he said, noting that the measures such as a higher 30 per cent real property tax gain will not see house prices coming down.