Looking for a place to buy property? Malaysia might be the answer as Thailand and Singapore tighten their visa rules. These changes are making it trickier for foreigners to settle in, prompting them to consider Malaysia, where visas are easier to get. The CEO of Juwai IQI, Kashif Ansari, thinks this shift could lead to around $581 million being spent in Malaysia over the next five years.
Singapore, known for its attractive job opportunities, is making it harder for foreign workers to get visas, starting on September 1. Thailand is also raising fees for its Elite Visa Program, which used to be a popular choice. These moves are driving property buyers to explore options in Malaysia.
Malaysia is taking advantage of this situation by keeping its visa process straightforward. They’re even thinking about making their 10-year visa program more relaxed, allowing foreigners to stay longer. This move is part of Malaysia’s plan to attract wealthy foreigners looking for a stable and hassle-free place to invest.
Across Southeast Asia, countries like Thailand, Singapore, and Malaysia have been competing to draw in wealthy foreigners. With its easy visa rules and growing property market, Malaysia is aiming to win this competition.
As Thailand and Singapore make it harder, Malaysia’s friendlier approach might bring a lot of foreign money into its property market, giving its economy a boost. If you’re thinking about property investment, Malaysia is looking like a pretty good bet right now.
Read More: NewStraitsTimes.com, Dagangnew.com, Businesstoday.com, Retalkasia.com, E.vnexpress.net
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