Gents,
Someone has already posted this previously if i remember correctly but anyway here it is again:
http://www.theedgemalaysia.com/prop...rice-rise-not-due-to-foreigners-says-mpi.html
Property price rise not due to foreigners, says MPI
Property
Written by Bernama
Tuesday, 04 September 2012 16:34
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KUALA LUMPUR (Sept 4): It is only a perception that foreigners influence the rising property prices in Malaysia, as they are involved in a very small percentage of property transactions, says the Malaysia Property Incorporated (MPI).
She said overall for Malaysia, prices started rising after 2009, going up 6.7% and 9.9% in 2010 and 2011 respectively.
"We should not actually label the foreign buyers as foreigners. The main foreign buyers are actually Malaysia My Second
Home buyers, expatriates and diasporas.
"The large percentage of foreign owners from Johor are likely to be the Malaysian diaspora residing in Singapore," she said.
Loh said higher property prices have very little to do with foreigners but instead are due to such factors as supply, shortage of
prime land, rising building material costs, all-time low lending rate since 2006 as well as speculative activities in the local
property industry. — Bernama
I hope this answers your question, especially the underlined and highlighted part.
The reverse is true for Singapore though.
Top foreigner buyers in Singapore are actually from Malaysia.
http://www.propertylaunchguru.com/singapore-properties-top-foreign-buyers-from-malaysia/
http://sg.news.yahoo.com/chinese-no...perty-buyers-singapore-044958449--sector.html