Friday, 12 August 2016

Malaysians keen on investing in commercial properties in Australia

Malaysian investors in Australia will most likely focus on commercial properties with the implementation of new tax rates targetting foreign buyers of residential real estate, according to Knight Frank Australia.

The property consultancy, which recently organised a roadshow to gauge investors’ sentiment, noted that the Australian property market remained a key attraction for Malaysian investors despite the recent changes to the country’s property tax law.

“Despite the recent stamp duty changes imposed on foreigners purchasing residential property, interest from Malaysian private and institutional investors is remarkably strong,” Knight Frank head of commercial sales Paul Henley said in a statement.

“We expect many commercial, hotel and retail assets transactions from Malaysian investors over the next year.

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