PETALING JAYA: The weakening ringgit has prompted prudent investors to search for viable options including buying properties overseas to preserve their wealth, said a real estate consultant.
“Investors should maintain a good balance in their wealth portfolio to preserve savings whilst reaping capital gains from property appreciation and high rental,” said Michael Geh, Raine & Horne senior partner.
Financial analysts have reported that the value of the ringgit against the dollar was down 1.8% since January this year and will be facing flattish movement in the coming months, thus becoming the worst-performing currencies among the emerging Asian countries, Geh added.
Raine & Horne and Original Property Brokers (OPB) are co-hosting an exclusive Australian property investment preview at its premises at 14, Penang Street, Penang from Oct 4 to 7. The preview will also be held over three days in Kuala Lumpur at Nomad Suites @the Pavilion, beginning Oct 3.
“It is the right time to make a choice and consider investing overseas like in Western Australia, as the property sector Down Under is currently a good bargain,” says Geh.
OPB director Samantha Payne, a licensed real estate agent in Western Australia (WA) and Dubai said: “The future of the Australian property market and in particular WA’s property market is extremely bright and seen by most as one of the optimum global places to invest.”
According to Payne, the current a lack of housing in Australia, whereby demand far exceeds supply has contributed to the promising investment prospect. The situation can be attributed to the state being an attractive migration destination, education opportunities, conducive climate and probably, most importantly the A$200 billion (RM608.6 billion) invested in the huge natural resources sector that is producing large employment growth.
Local investors can tap the insider knowledge from Raine & Horne’s vast network of affiliate offices in Australia where the international real estate agency was founded more than a century ago.
“Investors should consider both local and overseas property as a viable option for capital gains and also investing to provide a home for their children who may pursue quality secondary and tertiary education in Australia,” advises Geh.
Payne will meet with prospective investors to provide advice and share on Perth’s and WA’s attractiveness as well as migration visa options, the rapidly growing property market, finance options, business and joint-venture opportunities, relocation services and education facilities and locations.As seats are limited, interested parties are advised to contact Ms Norha at 012-624 7200 to make an appointment with Payne and her team.