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Savvy home buyers are turning to auctions in high-end market

31 9 6

IN recent years, Malaysia property market has seen a spike in auctioned properties owing to rising residential unit prices, especially in the high-end segment.

According to the Malaysian Reserve, the buyers have mostly cast aside the notions that auctioned properties, or “rumah lelong”, were associated with misfortunes and inheritance of bad luck to buy up the homes that no one else seemed to afford.

An auction property market consultant Mohd Izwan Abdul Latiff said the spike in popularity of auction properties became apparent since 2014.

SEE ALSO: These property buyers were treated to a luxury cruise

This happened as property prices shot up drastically in high demand areas and not in........

© Asian Correspondent