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Property investors urged to consider Far East

Friday, 22 February 2008 12:00 AM

Property in the Far East, specifically Vietnam and Malaysia, could prove to be an interesting proposition for British investors looking for opportunities.

That is the view of overseas property experts AmberLamd.com, which finds a rapid acceleration of urbanisation and wealth generation are increasingly turning the countries into realistic possibilities for investment.

"Vietnam is benefiting from urbanisation, as there is a growing local affluent class seeking real estate to buy and rent and this is fuelling demand and development considerably; this translates into opportunity for investors," said Rhiannon Williamson, director of Amberlamb.com.

"In terms of price movement, in Ho Chi Minh City where demand is at its most intense, property prices have doubled in the past year."

AmberLamb finds property in Vietnam now costs $3,500 (£1,750) per square metre, however, others local sources believe it is not unrealistic to imagine top end prices will reach nearer US $4,500 (£2,250) per square metre within 12 to 18 months.

However, Ms Williamson also warned there is little historical data against which to compare prices, and thus caution must be exercised when making decisions.

Yet, investors appear to be waking up to the market.

According to AseanAffairs.com, it is expected 40 foreign investment funds will invest $20 billion (£10 billion) worth of capital into the Vietnamese property market this year.

Malaysia is also proving alluring to investors.

"Why look anywhere else?" said Ms Williams.

"The government is doing all it can to attract foreign investment into property and it is a tax efficient location to buy in for many.

"It's a nation with a buoyant and expanding tourism and business environment which equates to demand, affluence, affordability and a strong potential for profit.

"It's a stunning nation with well-built, attractive real estate for sale and according to local property professionals, Malaysia's property market is well positioned to smoothly ride out any impending storm created by the US subprime crisis and potential recession."

In addition The Global Property Guide rates Kuala Lumpur as the 22nd best city in the whole world in terms of gross rental yield.

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