KUALA LUMPUR, 17 February: While there is a lack of efficiency in terms of data collection on foreign investments in Malaysian properties, concerns over the “influx” of China investors have been over politicised, says Rahim & Co.
“These Chinese investors coming to Malaysia is over politicised. There seems to be a lot of worry that the Chinese will take over, which is rubbish. First of all, we need overseas investments. Therefore it is not just the Chinese but the Europeans, Americans, Australians are encouraged to come, that’s why we have programmes like MM2H (Malaysia My Second Home) and so forth,” said Rahim & Co International Sdn Bhd executive chairman Tan Sri Abdul Rahim Abdul Rahman.
He said many politicians made comments and expressed worries when it was announced that Chinese investors would invest in Bandar Malaysia.
“There is nothing to worry about, in fact it would be good for the property market. I think there were a lot of Chinese investors going into Iskandar Malaysia, which was needed,” he added.
Rahim & Co International research director Sulaiman Akhmady Mohd Saheh pointed out that many projects in Johor were jointly developed with Chinese developers, thus attracting Chinese buyers.
“One of the projects that we’ve looked at now has a total of about 50-60% bought by Chinese buyers in terms of the rate of transactions. But that is just one particular project … but now, from our intelligence, more and more Malaysians are also buying into those mega projects in Johor,” he said, adding that foreign investments in property are about 10% or less now.
Sulaiman said foreign investments are needed if Kuala Lumpur aspires to become an international city.
“Of course, the government also needs to ensure locals have the opportunity to buy,” he added.
Rahim & Co International real estate agency director Robert Ang said Chinese investments are mainly in large scale developments such as Bandar Malaysia, with very little individual retail investors from China.
“Unfortunately here, our data collection is not as efficient as some other countries. So we don’t have the official figures for Chinese investments,” he said.
“We do not have those figures. I recommend that the government come up with those figures so that people will know exactly, and it is also good for policies,” said Abdul Rahim.
— THE SUN