Japan look to overseas property for investment and relocation

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Due to fears surrounding the potential for natural disasters in Japan, Japanese property investors are considering property overseas, not just as an investment but for relocation purposes too.

More Japanese are hunting property overseas for investment and as a potential location to move to, according to Shotaro Ishihara, Managing Director of Tropical Resort Lifestyle (MM2h) Sdn Bhd.

The company that Ishiara manages promotes property in Malaysia to the Japanese market.

Ishiara said Penang is expected to be a popular location for investors looking for a good investment because property is not as expensive as it is in Hong Kong, Japan, Singapore and Kuala Lumpur.

He continued to describe why Penang is not yet a hotspot for the Japanese. Ishiara said: “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.”

Approximately 1,500 Japanese expats currently work in Penang and because of the ‘Malaysia: My Second Home’ Programme, 600 more live in Penang.

The Malaysia My Second Home Programme is an initiative instigated by the Malaysian government to permit foreigners that meet the criteria to live in Malaysia for as long as they wish to do so. They are offered a multiple-entry social visit pass, which is initially provided for ten years and can be renewed.

Transferring money to Malaysia

If you are looking to invest in Malaysia, think carefully about how to send money abroad to Malaysia. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Malaysia – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Japan look to overseas property for investment and relocation

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