New budget airline boost for Malaysian property

Extracted from the Homes Overseas Magazine dated 20 March 2009...

The Malaysia property market, named as the number on place to invest in property this year byHomes Overseas magazine, has been boosted by the launch of a new budget airline service.

Air Asia X has started a new service offering flights five times a week from London Stansted to the Malaysian capital, Kuala Lumpur. The company has already sold 50,000 tickets priced between £149 and £199 one way, compared to typical prices of £300 charged by other airlines.

John Scott, director of Southeast Asian property specialist, Asset Property Brokers, said: “This is good news for those thinking about investing in property or seeking a property in Malaysia.

“Although property price rises have slowed inline with the global downturn, Malaysia’s property market has been more robust than most.

“The launch of this new airline service will add a further boost to Malaysia¹s booming tourist industry, driving up occupancy rates and yields of well located and managed hotel property projects.”

A record 22m people visited the country in 2008, up 5% compared with the previous year, making it Southeast Asia’s top tourist destination.

Asset Property Brokers is currently marketing villas for sale at Golden Palm Tree Resort, an iconic luxury hotel development forming the shape of a palm tree that will stretch out almost a mile into the Straits of Malacca, near Kuala Lumpur.

Investors are provided with a 15-year rental package starting at a net 8% per annum, good potential for capital growth and zero capital gains tax.

The scheme, which is located just 75 minutes from Kuala Lumpur¹s central business district, is scheduled for completion in 2010.

Property prices start from £190,337.