As more foreigners go house-hunting in Malaysia, sellers say cash is king

Tan Ai Leng

Published Tue, Sep 27, 2022 · 05:50 AM

MATT Tian, a veteran property agent at PropNex Malaysia, was on holiday recently when he received a call from an overseas client requesting to view one of his listings in Kuala Lumpur.

The arrangements were quickly made, and the transaction was wrapped up in less than a week after Tian returned to Malaysia. The buyer snapped up 2 luxury condo units with a combined size of 7,000 square feet for RM5.1 million (S$1.6 million) in cash, after getting a 15 per cent discount from the market value of RM6 million.

“Since Malaysia’s borders reopened in April, there are more enquiries from abroad, and some property owners are willin…