Japan folk scouting for overseas property to invest in
GEORGE TOWN: More Japanese investors are expected to scout for
property in
Penang this year because of fears of another round of
natural disasters in their country.
Tropical Resort Lifestyle (MM2H) Sdn Bhd managing director Shotaro Ishihara said more Japanese were now scouting for overseas property to invest in and to relocate.
Ishihara,
whose company promotes
Malaysian property in the Japanese market, said
Penang real estate was an attractive investment because it cost less
than property in
Kuala Lumpur, Hong Kong, Singapore and Japan.
“However, only a small number of Japanese have bought residential property in Penang.
“This
is because Penang is known in Japan as a holiday resort and not as a
property investment destination. The rental yield is also still not
attractive,” he said.
Ishihara said the
Japanese media should be roped in to help promote property in Penang.
About 1,500 Japanese expatriates work in Penang while some 600 more live in Penang under the
Malaysia My Second Home programme.
The
property rented or bought by the Japanese are usually condominiums in
the residential neighbourhoods of Pulau Tikus, Tanjung Tokong and
Tanjung Bungah, all priced from RM500,000.
In the last few years,
Tropical Resort has helped to sell about 200 condominum units in Kuala
Lumpur and Penang to Japanese investors, priced between RM600,000 and
RM1.8mil each.
Reports by ISABELLE LAI, DAVID TAN and HAFIZ MARZUKHI
More Japanese opt to live in Malaysia
Reports by ISABELLE LAI, DAVID TAN and HAFIZ MARZUKHI
PETALING JAYA: The Japanese have overtaken Iranians in making
Malaysia their second home, snapping up properties in the Klang Valley
and other urban areas.
According to the Malaysia My Second Home
Centre, Japan has been the top participating country since last year,
when the country was hit by a tsunami and a nuclear crisis in Fukushima.
Malaysia's political stability and economic growth are said to be a big draw.
Feeling
at home: Hiroko Hirano, 64, and her husband Hiroyuki Hirano, 67,
watering plants at their home in Glugor, Penang. They find it an ideal
place for a second home. — ZHAFARAN NASIB / The Star
MM2H
statistics showed that the number of Japanese applying to participate
in the programme doubled from 195 in 2010 to 423 last year. A total of
787 Japanese applications were approved from 2009 to last year.
The Chinese jumped to second place last year, with 405 applications approved.
The
Iranians, who topped the list from 2008 to 2010, dropped to third place
last year and fourth this year, below the Bangladeshis.
As of March, 18,090 foreigners have successfully applied to participate in MM2H.
The rise in Japanese applicants followed the announcement of
Tourism Minister Datuk Seri Dr Ng Yen Yen in late 2010 that Japanese senior citizens were welcome to make Malaysia their second home.
She
had said the number of Japanese aged 65 and above was increasing, and
living in Malaysia was ideal due to its strategic location, advances in
medicine and cheaper living costs.
Real Estate and Housing Developers Association
president Datuk Seri Michael Yam
said Malaysia, as part of its
Look East policy in the past few decades,
had focused on making living here convenient and comfortable for the
Japanese.
This, he said, included the setting up of a Japanese School in Kuala Lumpur in 1966.
The
school is the fifth oldest Japanese school overseas, with spacious
premises that include a kindergarten and primary and secondary schools.
Such
initiatives had helped to build a cordial relationship between the two
countries, Yam said, adding that there were many Japanese investors in
Malaysia today.
“These people used to work in Malaysia. When they
went back, they probably thought that this is not a bad place to have a
second home, especially since it is one of the cheapest places to live
in,” Yam said.
He noted that Malaysian condominiums now
incorporated a “sprawling lifestyle complex” approach, which includes
amenities such as big swimming pools and tennis courts.
“You get
good value for money, which you don't necessarily get in other
countries, which are more densely packed,” he said, adding that Mont
Kiara, which is popular among expatriates, was one of the biggest
Japanese enclaves in the country.
According to the Japanese Embassy, the earthquake and tsunami which happened in March last year were another “push factor”.
Japanese Ambassador Shigeru Nakamura said there were about 1,000 couples who have made Malaysia their second home.
Couple finds Penang ideal for second home
Reports by ISABELLE LAI, DAVID TAN and HAFIZ MARZUKHI
GEORGE TOWN: While many foreigners look upon Penang as a tourist
destination, a Japanese couple feel the island is ideal for a second
home.
Hiroyuki Hirano and his wife Hiroko love everything about
Penang so much that they have no plans of moving elsewhere at the
moment.
The 67-year-old hardware products quality control consultant moved to Penang in 2007 when he was offered a job here.
Time together: Hiroko helping her husband Hiroyuki wash their car at their house in Minden Heights in Glugor, Penang.
“As
I had visited Penang previously, I had no hesitation taking up the job
offer,” Hiroyuki said at his rented house in Minden Heights.
He loves the local cuisine such as
Hokkien mee and
roti canai.
“I also like
nasi lemak and
char koay teow,” Hiroyuki added.
Hiroko, 64, a professional dollmaker, said Penang's warm climate suited her and her husband.
“If the weather is too cold, we may get joint pains. Penang's weather suits us perfectly,” Hiroko added.
Asked
if they intend to buy property in Penang, the couple said that one of
their sons, who is working in Kuala Lumpur, had plans to buy a house.
“We are comfortable in our present home as the neighbours are nice and friendly and the environment is peaceful,” Hiroko said.
Japanese businessman Takayuki Kaneko said he was looking to buy a condominium in Pulau Tikus, Tanjung Tokong or Tanjung Bungah.
“I
have lived in a condominium here for seven months with my wife and two
daughters. As I am here for the long-term, I want to have my own
property.
“Pulau Tikus, Tanjung Tokong and Tanjung Bungah all
have easy access to shopping malls, schools, hospitals, restaurants and
hotels,” he said.