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PENANG (Malaysia): More young Malaysians are buying burial plots and columbarium niches as a form of investment.
Like apartments and landed property, the value of cemetery lots and niches have gone up, with prices almost doubling within a year for those in prime locations.
NV Multi Corporation Berhad general manager Au Kok Huei said 600 prime double burial plots in Semenyih were snapped up at a price of RM21,800 each last year.
"Today, these 216sq ft plots are worth about RM42,800 each. Burial plots are no different from landed property. They appreciate because prime land is scarce.
"We have plots costing between a few thousand ringgit to millions depending on the client's budget. Some clients invest in plots for their future generations because of the good feng shui of the land."
NV Multi Corporation Berhad manages the Nirvana Memorial Parks around the country.
Au explained that about 90% of their clients purchased burial plots for future use.
"Our clients used to comprise those above the age of 40 but now, our average clients are in their mid thirties.
"They fall into three categories - those who buy for investment; those planning for their future; and those who believe that good feng shui can result from having a tomb built even before their death."
Salesman Wong Wy Lee, 46, is saving up to purchase five burial plots for him and his family.
"I am in the midst of paying off my housing loan and am now looking to invest in some burial plots or columbarium niches. It is mainly for the family but I may sell it off later on if I get a good offer," he said.
Penang Island Catholic Cemetery committee chairman Patrick Gopal said many families had booked niches at the Church
of Immaculate Conception Kelawai Road Catholic Cemetery's columbarium since it was built in 2005.
"We do not allow reservations for the burial plots which are only for the Church of Immaculate Conception parishioners.
"We don't allow purchases by the family unless the person is deceased. We have about 6,000 parishioners, so we have to control the sale of the plots which cost RM1,500 each.
"Running the cemetery is a social obligation so we are not out to make a profit. The money from the sale is used for the maintenance of the cemetery," he said.
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