The Malaysian property market has been luring foreign investors back as the ringgit depreciated, according to Juwai IQI’s Q3’22 Economic Outlook report.<\/p>\n
Juwai IQI co-founder and group CEO Kashif Ansari said the weakening ringgit is part of the appeal of Malaysian property that has been luring foreign investors back into the market.<\/p>\n
“Foreign investment benefits from exchange rate trends. The ringgit has lost 6% of its value against the dollar so far this year and is down 13% from its 2018 high against the greenback,” he said.<\/p>\n
Additionally, the reopened borders are already having an impact on the property market and tourism industry. Juwai IQI believes the economy and property market have enough momentum to absorb the increases in stride without falling into a down cycle.<\/p>\n
“While these moves represent an increase from the extraordinarily low levels that prevailed for the past two years, interest rates remain historically low to support the property market,” added Kashif.<\/p>\n
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