Malaysia Property Market Driven by Tourism Print
Monday, 16 February 2009 15:20

The government has a serious commitment to increase the local economy and has helped to grow tourist arrivals to an estimated 21.5 million in 2008 with anticipated gross receipts of MYR 49 billion -which will contribute 7.2% to nominal GDP. By 2010, the number of visitors to Malaysia is predicted to grow to 24.6 million, generating receipts of RM59.4 billion and providing 520,700 jobs.

The Government continues to enhance the Malaysia property industry by promoting the Malaysia My Second Home (MM2H) programme. From its start in 1996 up to end-2006, the MM2H programme has drawn 9,551 foreigners, including 1,049 Britons.

Over 45 international airlines fly into the Malaysia while national carrier Malaysia Airlines has a global network that spans six continents including flights for KL to London twice a day.

Obviously tourists need places to stay, and it’s no surprise that under supply of hotel and rental property in Malaysia has is a driving factor helping the spurred the growth of investment in hotel, resort and rental accommodations investments in Malaysia.

Investing in rental property in Malaysia also takes advantage of rising household incomes and improved quality of life demands.

Domestic tourism also plays an important role in the overall tourism industry - so it is actively promoted to attract more Malaysians to travel within the country.



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