Despite being one of the major cities in Malaysia, Ipoh has been overlooked for almost 20 years, in terms of property investment and development.
However, Peter Chan, Co-Principal of The Haven Sdn Bhd, said Ipoh’s property market has been growing in confidence, especially in 2011, with many new launches taking place.
“It helps that the quality of life is high and prices are among the lowest in Malaysia,” he said.
One good example of property investment and development in the area is The Haven, a new luxury condo project comprising three 26-storey blocks of high-end condo units. The development sits on a 5.44 ha site that features a 1.6 ha lake and is surrounded by nature parks.
“We were confident enough to launch three blocks at the project in one go, instead of the usual one block, which has been the case for Ipoh properties in the past,” noted Chan.
The project was showcased at the recently concluded Malaysia Property Showcase in Singapore and serves as a viable option for retirement or vacation homes for foreigners.
The Haven is priced at almost one-tenth the prices of private properties in Singapore. Currently, prices start from S$185 psf (RM456), with 20 percent of buyers comprising foreigners.
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