KUALA LUMPUR - The Iskandar region and Johor Baru will be the hottest places to invest in this year, given the booming development in the area, said Swhengtee International Sdn Bhd president and founder Gavin Tee.
"There is a lot of action going on in Iskandar and we expect more after the general election," he said, adding that even Singaporeans are crossing the border to invest there.
"The Iskandar region and Johor Baru will take the lead this year while the southern part of the Klang Valley, although quieter this year, will still be buzzing due to the development of many new townships and mega projects, including the MRT (Mass Rapid Transit)," he said at the sidelines of the Swhengtee Annual Property Forecast Talk here yesterday.
Tee also listed Cyberjaya as an upcoming hotspot as well as places in greater Kuala Lumpur which have been earmarked for big projects such as the Tun Razak Exchange and the re-development of the former Pudu jail and Sungei Besi airport.
Other hotspots include Kota Kinabalu, Penang, Kuching, Pangkor, Malacca and areas near the KL International Airport.
Tee added, however, that it was important to identify the best places within the hotspots to ensure proper investment returns.
The international property consultant and speaker also said that this year would likely see more Malay participation in the property market.
He attributed this trend to the increasing number of young Malay investors, especially those interested in buying property in urban areas as well as future development in Malay reserve lands, kampung areas or special economic zones.
Tee, who founded the SwhengTee International Real Estate Investors Club, advised those who wished to buy properties to do their research and speak to those in the know as well as the locals to help them make a better informed decision.
"When buying, try to avoid difficult financing areas as it will be quite hard to dispose of them when you eventually want to.
"As investors, I hope people recognise the changes and invest based on the facts and the future.
"Property is something very personal; you need to feel it," he said.