Its chief executive officer Leon Lee said sales were encouraging, adding that they had locked in over RM10mil in sales over the past three days.“Our properties are still attractively priced because of the weaker ringgit,” Lee said.
The participating developers are Ideal Property Group, Mah Sing Group Bhd, Ewein Zenith Sdn Bhd, Asia Green Group, Berjaya Land Bhd and Devoteshens Sdn Bhd. “More than 60% of the first and second phases of Queens Residences have been sold so far, while about 40% of The Amarene project were taken up. “Currently, fewer than 3% of Malaysian properties are owned by foreign buyers and I believe this is still very healthy and low.“We can raise foreign ownership of high-end properties to 5%,” he said.
“These speculators would come here to buy properties and flip these to Malaysian buyers at a higher price, thus driving up the property prices. This practice should be discouraged.